Private equity appetite to acquire mid market enterprise software companies remains high with TA Associates acquiring Access Technology from Lyceum. This follows the recent acquisition of ACS by Vista. The attractions for private equity include the high growth, strong margins and recurring revenues of enterprise software.
TA Associates, a leading global growth private equity firm, today announced it has signed a definitive agreement to acquire a majority interest in Access Technology Group (Access), a leading business management software company. TA will acquire its stake from Lyceum Capital, a growth investor. Financial terms of the transaction, which is expected to close later this month, were not disclosed. Access’s software covers finance, HR and payroll, business intelligence, supply chain, CRM and warehousing, and can be deployed in the cloud, in a hosted environment or on-site. The company’s applications help over 6,000 customers – including some of the most innovative and rapidly-growing enterprises in the UK – achieve operational excellence. Colchester-based Access Group was founded in 1991 and today employs 750 people. In December, it acquired cloud hosting specialist StratoGen.