Lyceum Capital-backed Access Group, a business software provider, has acquired French-based business intelligence specialist Prelytis for 4 million euros ($5.04 million). The acquisition is the company’s sixth bolt-on since Lyceum Capital the business in March last year.
Lyceum Capital-backed Access Group (‘Access’), the business software provider, has acquired French-based business intelligence specialist Prelytis for 4 million euros ($5.04 million).
The acquisition, which marks the first of a series of moves by Access into the software as a service (SaaS) marketplace, is the company’s sixth bolt-on since Lyceum Capital backed a £50m buyout of the group in March last year to support its long-term growth strategy. In July, it acquired Delta Software Limited in a £5.4m deal
The transaction brings the number of deals completed by Lyceum Capital since the beginning of 2011 to 21, comprising 17 add-on acquisitions for portfolio companies and four new platform investments.
Prelytis’ LiveDashBoard, which already has 100,000 daily users at 300 customers, will offer Access customers a new dimension for viewing their management information.
Chris Bayne, Access CEO, commented, “Our users will benefit hugely from being able to see their real-time business information anytime, anywhere and on whatever platform they choose. Easy to use analytics put power into the user’s own hands and provide strong data access and integration capabilities.
“Valuable real time information is the backbone of all business decisions, and while Access has always provided dashboards with our solutions, Prelytis LiveDashBoard takes our business information to the next level.
Alexandre Schneider, CEO at Prelytis, concluded, “By joining forces with Access we bring the LiveDashBoard opportunity to the thousands of customers that Access already serves, and introduce Access’ business management software to our existing user base. Access and Prelytis are a fabulous fit in terms of innovation, technology and people. It’s an exciting time for both companies.”
Access provides solutions that meet the needs of the whole organisation, delivering full transparency and visibility of information across every department to aid with quality decision support. By acquiring Prelytis, Access expects to accelerate further its current organic growth rate of 13%.
Prelytis currently serves customers including ADP, LaSer Cofinoga, Takasago and Johnson Controls and will see its existing close working relationships further strengthened and supported by Access, while the combined pool of sales, marketing, and product development expertise and resources will advance the development of a market-leading solution set.
With a predicted growth rate of over 8% to 2015, Gartner Group analysts expect the business information market to remain one of the fastest growing software sectors, as organisations continue to turn to it as a vital tool for smarter, more agile and more efficient business with the expansion of mobile computing devices (tablets and smartphones) a key driver. Gartner predicts that 33% of business information functionality will be consumed via handheld devices by 2013.
Jeremy Hand, Founding Partner of Lyceum Capital, which acquired Access in March 2011, commented: “Prelytis is a compelling strategic fit for Access. As the pace of business has accelerated, real time delivery of key information is crucial. A product which delivers the information you need to manage a business wherever you are, however you want it and in real time has excellent growth potential.”
Access was recently placed number 47 in The Sunday Times Buyout Track 2012, which recognises private-equity-backed companies with the fastest-growing EBITDA.
Since 1991, Access has become established as a leading business solutions provider, employing over 400 people. It helps organisations improve performance, profitability and cost efficiency by delivering integrated organisation-wide solutions spanning finance, HR and payroll, professional services automation, document management and manufacturing. More than 5,000 customers including Eden Project, Methodist Church, Birmingham International Airport, Leicester Tigers, National Accident Helpline and Eddie Stobart rely on Access to drive growth and unlock the potential of their people as well as their organisation through better business insight.
A £50 million investment by private equity firm, Lyceum Capital, in 2011 marked a significant step change in Access’ growth trajectory, cementing the company’s notable position amongst the top five fastest growing UK software developers in The Sunday Times Buyout Track 100 List 2012 and in last year’s Profit Track 100. Access’ on-going commitment to excellence, its customers and its people also placed it amongst the UK’s top employers in The Sunday Times 100 ‘Best Companies to Work For’ 2011.
Accreditations and memberships:
• Microsoft Gold Certified Partner
• Institute of Chartered Accountants in England and Wales (ICAEW)
• Business Application Software Developers Association (BASDA)
• Access’ software is recognised by HM Revenue & Customs
About Lyceum Capital:
Lyceum Capital is an independent investment firm that invests in innovative and growing mid-sized UK-headquartered businesses; having acquired 90 businesses in the UK and internationally since 2000. Lyceum plans to invest a further £300 million in the UK over the next two to three years.
Lyceum Capital makes targeted investments in mid-sized businesses with the potential to become larger participants in fragmented and growing sectors; and has a strong track record across a number of industries.
Lyceum Capital works alongside management teams to increase scale by driving growth through investing in infrastructure and improved operations as well as sourcing and funding complementary acquisitions in the UK and internationally. Through a combination of investment, operational and strategic input Lyceum Capital helps management build robust and successful businesses with good long-term growth prospects.