ERP consultancy and software house Access UK has sealed a £50m deal with Lyceum Capital Partners that will buy out the founder and a number of other shareholders.
Jeremy Hand, deal leader at Lyceum Capital, said the deal will target expansion of the 20-year-old firm's £28m turnover and £5.5m EBITDA.
Access UK has a successful operating model, proven management team and a strong position in the rapidly growing business segment of the software market, he said.
"This deal will give the business the funding and additional insight and expertise to broaden its services and penetrate further into key verticals," Hand said.
Lyceum Capital will help Access UK's chief executive Chris Bayne cement the company's 15 per cent sales growth over the past year, targeting rapid organic growth and acquisitions of complementary offerings.
SaaS development and the mid-market will be particular areas of focus.
Alistair O'Reilly, founder of Access UK, said the agreement had met all the firm's needs and was brokered by Regent Partners International.
"Regent delivered a deal including the valuation, structure, and a buyer that is going to enable the management team to take the business to the next level by investing in growth," O'Reilly said.
Lyceum's Jeremy Hand and Phillip Buscombe have joined the board.
Former IBM, Spring Group and Rebus HR exec Gareth Denley will take over the reins as chairman. David England, formerly chief operating officer at Computer Software Group, has been taken on as non-executive director.
Access has 300 staff across nine UK and Ireland offices and about 5,000 mid-market customers including Topps Tiles, the National Museum of Science and Industry, Sue Ryder Care and Birmingham International Airport.
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