M&A Deal Summary

TA Associates and HgCapital Acquire Access Group

On January 19, 2015, private equity firms TA Associates and HgCapital acquired software company Access Group from Horizon Capital UK

Acquisition Highlights
  • This is TA Associates’ 43rd and HgCapital’s 15th transaction in the Software sector.
  • This is TA Associates’ 10th and HgCapital’s 43rd transaction in the United Kingdom.

M&A Deal Summary
Date 2015-01-19
Target Access Group
Sector Software
Buyer(s) TA Associates
HgCapital
Sellers(s) Horizon Capital UK
Deal Type Secondary Buyout

Target

Access Group

Loughborough, United Kingdom
Access Group is a provider of fully integrated business management software. Its portfolio spans ERP, finance, HR, Payroll, recruitment, warehousing, business intelligence, professional service automation and manufacturing. Access Group was formed in 1991 and is based in Loughborough, United Kingdom.

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Buyer(S) 2

Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 224 of 364
Sector (Software) 43 of 86
Type (Secondary Buyout) 20 of 69
Country (United Kingdom) 10 of 16
Year (2015) 3 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-15 RateGain

Noida, India

RateGain is a provider of SaaS-based hospitality and travel technology solutions. RateGain provides revenue management and distribution channel management software, and real-time pricing data and analytics, to help businesses streamline operations and sales. RateGain was founded in 2004 and is based in Noida, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-28 Fotolia

New York, United States

Fotolia is a provider of micro-priced stock images on the Web. Fotolia provides professional and amateur photographers with the ability to connect with more than 800,000 media buyers worldwide – from small businesses and design firms to some of the world’s most recognizable brands.

Sell $800M
Buyer

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.

DEAL STATS #
Overall 75 of 151
Sector (Software) 15 of 47
Type (Secondary Buyout) 20 of 50
Country (United Kingdom) 43 of 59
Year (2015) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-16 A-Plan

Witney, United Kingdom

A-Plan Ltd. is a UK specialist multichannel insurance broking group with a focus on personal lines and a growing presence in specialized products such as SME policies. The group’s core proposition is a branch-led, service-driven offering, valued by its large base of loyal customers that today make up over 1.5 million policies nationally. A-Plan was formed in 1963 and is based in Witney, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-24 Sporting Index

London, United Kingdom

Sporting Index is a sports spread betting, dominating the global market with an estimated 80%+ market share.

Sell -

Seller(S) 1

SELLER

Horizon Capital UK

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 800M GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Horizon Capital is a private equity firm that targets investments in middle-market companies valued up to £100 million. The Firm has a preference for UK-headquartered businesses and will consider opportunities in the technology services, software, data/analytics, and business services sectors. Prospective transaction situations include buyouts with potential for consolidation. Horizon Capital was formed in 1999 and is based in London.

DEAL STATS #
Overall 11 of 27
Sector (Software) 1 of 2
Type (Secondary Buyout) 5 of 10
Country (United Kingdom) 10 of 24
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-16 Isotrak

Orlando, Florida, United States

Isotrak, Inc. is a provider of GPS vehicle tracking and fleet management software solutions. Isotrak was founded in 1999 and is based in Orlando, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-23 Synexus

Chorley, United Kingdom

Synexus Ltd. is a global patient enrolment and investigator site management organisations (SMO). It enrols and manages patients for large, complex clinical trials on behalf of a number of leading international pharmaceutical, biotechnology and contract research organisations.

Sell £83M
Mergr

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