US private equity firm TA Associates has acquired Essex-based technology company Access Group in a deal thought to be worth over £225m, it emerged yesterday.
Access Group is a software consultancy and developer headquartered in Colchester, primarily serving UK mid-market businesses. Employing approximately 450 staff, the firm’s 6,000-strong client base includes the Leicester Tigers rugby club and logistics company DHL.
Boston-based TA takes over the software firm four years after its £50m management buyout backed by UK investment specialist Lyceum Capital.
Access Group’s management team, including chief executive Chris Bayne, are expected to reap considerable reward from the deal, as they reportedly hold a sizeable minority stake in the company. The group’s managers, are set to re-invest their gains into the new buyout, confident of the company’s prospects for international expansion.
TA and Lyceum declined to comment.