Iris software group, is today announcing it has entered into a definitive agreement to acquire fmp global, from tenzing, the uk lower midmarket investor. Hgcapital previously held a minority stake in the parent company. Iris software group is the largest privatelyowned software supplier in the uk. The companys products include iris, ptp, kashflow, keytime and taxfiler which are cloud based, providing small and mediumsized businesses to automate the mundane, but critical daytoday business tasks. Hg saturn fund makes new joint partnership investment into iris. Megabuyte50 awards honour commify, foundry, access group. Iris software group general information description. Hgcapital has been an investor in iris since 2004, retaining a minority stake following its sale and merger with csh in 2007, and becoming a majority investor again in 2011 when we separated the two businesses. Sector expert investors supporting management to grow. Software group acquired in major private equity buyout insider media. Iris software limited company profile slough, united.
Set to be the largest acquisition by iris to date, fmp global is closely aligned with the groups mission to be the most trusted provider of mission critical software. Iris is a provider of businesscritical software and services to the uk accountancy, education and business market. He is on the board of directors at gentrack group ltd. The objective of the company is to provide shareholders with consistent longterm returns in excess of the ftse allshare index by investing predominantly in unquoted companies where value can be created through strategic and operational change. Hgcapital to buy software maker for 565m financial times. Cogitalgroup which is backed by hgcapital announces an investment in baldwins and the launch of the new group. Iris software group was formed by the 2007 merger between iris software group and computer software group. Hgcapital mercury announces a significant investment in fundinfo ag. Aug, 2019 arma partners is pleased to announce that it has acted as exclusive financial advisor to iris software group limited on its recapitalisation by hgcapital at an enterprise valuation of. Stay informed and uptodate on your network with relsci news and business alerting service. Nov 16, 2011 midmarket private equity group hgcapital is in discussions to purchase ias, the accountancy and payroll software division of iris software group, from private equity investment firm hellman. Private equity firm hgcapital trust on wednesday announced a joint. We note press rumours that hgcapital is considering the sale of iris, a provider of software solutions to accountants, smes and the education. View michael biehls professional profile on linkedin.
Dec 09, 2011 hgcapital, a european sectorfocused private equity investor, has acquired a majority stake in both iris accountancy solutions and iris software group following the separation of iris software. May 22, 2018 a londonlisted investment firm is on the brink of winning a. Hgcapital has been an investor in iris software since acquiring the business for. Provider of businesscritical software and services in united kingdom. Capital group have made an investment in iris, a provider of software and services for.
May 23, 2018 hgcapital trust plc and intermediate capital group announced wednesday that they are partnering to make a significant investment in iris software group, which provides software and services to the. All six are application software businesses and represent sweet spot characteristics that hg looks for in. Hgcapital trust plc is a fastgrowing portfolio of unquoted investments, primarily in technology and technologyenabled services. Iris software group enters definitive agreement to acquire fmp global. In may, this software developer was bought out by hgcapitals saturn fund and intermediate capital group for. The group supports 21,000 accountancy practices, 11,000 schools and academies, and 80,000 small businesses via its software, which covers accountancy, human resources, and payroll. Hgcapital reinvests in the uk business software firms, iris accountancy solutions and iris software group 24 nov 2011 hgcapital trust wins the investment. Intermediate capital group partners with hgcapital in iris. May 23, 2018 private equity firm hgcapital trust on wednesday announced a joint investment with intermediate capital group in britains iris, which valued the business software provider at 1.
The group provides specialist accountancy, financial, human resources, payroll and bookkeeping solutions, driving attractive crosssell dynamics. Iris software group enters definitive agreement to. Iris is one of the earliest examples of our focus on business critical software firms operating in attractive, predictable endmarkets. Hgcapital trust takes controlling interest in iris. Iris software group limited provides software solutions. We understand you need to be as effective and productive as possible, so you can deliver an unsurpassed service to your clients. Hgcapital reinvests in the uk business software firms, iris accountancy solutions and iris software group. Hgcapital sells iris software and computer software group to. Hgcapital, the ukbased private equity group, is on tuesday expected to announce the acquisition of teamsystem, the italian accounting software maker, from bain capital in a deal worth about. Ias and isg were created following the split of iris software group ltd. Iris software group enters definitive agreement to acquire. Hgcapital announces joint venure with intermediate capital in iris. Iris software group helps over 80,000 businesses, schools and public sector organisations successfully managing their critical operational tasks. Iris software group, a provider of businesscritical software and services to the uk accountancy, education and business market, has been.
Set to be the largest acquisition by iris to date, fmp global is closely aligned with the groups mission to be the most. Sky news understands that intermediate capital group icg. Linkedin is the worlds largest business network, helping professionals like michael biehl discover inside connections to recommended job candidates, industry experts, and business partners. Hgcapital, intermediate capital team up for iris buyout. Nic humphries is affiliated with hgcapital llp, hgcapital 7 a l. Iris is expected to be a particularly enticing takeover target because it enjoys profit margins of close to 50%, excluding investments the company has made in a new cloudbased software division. Iris accountancy solutions is one of the uks leading providers of specialist applications software to the uk. Iris software group is a ukbased enterprise software provider. Citing sources, the broadcaster said private equity owner hgcapital has appointed investment bank arma partners to advise and help find a buyer for the business. Hgcapital announces joint venure with intermediate capital in. The iris refinance deal heres the formal statement. Iris software announced on tuesday that it had acquired exchequer software, one of the uks leading midmarket accounting software developers, for an undisclosed sum.
Hgcapital looking to sell iris software group ukbased accountancy and payroll software provider iris software is up for sale, according to sky news. Hgcapital reinvests in the uk business software firms, iris accountancy solutions and iris software group 24 nov 2011 hgcapital trust wins the investment week private equity investment trust of the year award. Nic humphries is chairmansenior partner at hgcapital llp. Linklaters has advised hg saturn, a fund of leading private equity firm, hg, on the buyout of iris software group from hg6. Both icg and hgcapital will each hold about 50 per cent stake in the company, the people said. Hgcapital in joint investment into software firm iris. Iris software group computer software slough, berkshire 25,055 followers we ensure 80,000 businesses get things right today and look forward to the future with confidence. The company offers modular solutions to automate various aspects of corporate finance departments including accounts, tax, practice. Iris, which began as specialist in integrated tax and practice applications has become increasingly acquisitive since lloyds invested in the company in 2000. Through helpful strategic guidance, and by brokering key relationships, theyve brought fuel to our partnerships with publics agencies and across the broader adtech ecosystem.
The group s client list has included npower, the liverpool football club, connaught, electrolux s uk operations, and wadsworth. The berkshire firm supports 21,000 accountancy practices, 11,000 schools and academies and 80,000 small businesses via its software, which covers accountancy, human resources, and payroll. A londonlisted investment firm is on the brink of winning a. Hgcapital trust plc will contribute a net total of approximately. Hgcapital, intermediate capital team up for iris buyout law360. Hgcapital acquires majority stake in iris accountancy. The trust, whose shares are listed on the london stock exchange, gives private and institutional investors the opportunity to participate in all hgcapitals investments. Capital group in britains iris, which valued the business software. Hgcapital looking to sell iris software group acq5. May 23, 2018 hg saturn fund and intermediate capital group have made an investment in iris, a provider of software and services for the uk accounting, education and business market. Hgcapital eyes iris software unit institutional investor. Iris accountancy solutions is the uks leading provider of specialist applications software and solutions to the uk accountancy and payroll sectors, whilst iris software group primarily operates in various other vertical. The groups client list has included npower, the liverpool football club, connaught, electrolux s uk operations, and wadsworth. Humphries also served on the board at iris software group ltd.
May 23, 2018 intermediate capital group plc said it and hgcapital have taken part in a joint buyout of accountingsoftware provider iris, valued at. Kevin dady is the executive chairman of iris software group and is responsible for iris acquisition and corporate development strategy, while also continuing his executive sponsorship of the companys exciting next generation of products and services, which are due to be launched this year and beyond. Hgcapital sells iris software and computer software group. Hgcapital in joint investment into software firm iris hgcapital trust hgt has announced that it has made a joint investment into iris with intermediate capital group. Access group, allocate software, fe and iris all placed in the 50 while commify and foundry were also named as best performing company in their respective categories mobile, wireless and satellite and specialist applications. Hg saturn fund and intermediate capital group have made an investment in iris, a provider of software and services for. Hgcapital announces joint venure with intermediate capital. Set to be the largest acquisition by iris to date, fmp global is closely aligned with the group s mission to be the most. Iris software group limited free company information from companies house including registered office address, filing history, accounts, annual return, officers, charges, business activity. Hgcapital trust plc will participate in the acquisition of a majority stake in iris software group limited iris alongside other institutional clients of hgcapital. Hgcapital reinvests in the uk business software firms, iris. Iris capital has been a true partner to flite at a crucial stage.
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