The businesses were created following the split of iris software group. Jun 29, 2017 hgcapital trust plc the company and other institutional clients of hgcapital will reinvest in visma group holdings visma, a leading provider of missioncritical business software to smbs in the nordic region, following a decision by kkr to sell its holding in the group. Iris worked under contract with lotus development corporation until 1994, when it was bought by lotus. About hg a specialist investor focused on software and service businesses. Hgcapitals most common sectors for investment are software 24% and internet software and services 12%. 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. Iris exhibits a number of hgs sweet spot business model criteria, including a. Inside one of the uks most prolific business software providers hg invests in smarttrade technologies hg invests in smarttrade technologies to accelerate its growth as a global leader in multiasset electronic trading solutions hgs support will help continue innovation a. 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.
May 22, 2018 icg, which reported strong growth in results announced to the city on tuesday, will acquire iris alongside a fund set up by the software companys existing owner, hg capital. Hgcapital has today announced the sale of computer software holdings limited csh to advanced computer software plc acs for an enterprise value of. They have couple of key accounts and they dont want to loose them. In total, hgcapital has invested in 5 us states and 17 different countries. It has also invested in 4 others hgcapital s most common sectors for investment are software 24% and internet software and services 12%.
The firms customers include notfor profits, accounting firms, medical practices, and law firms. Hgcapital to buy software maker for 565m financial times. Hg is a longterm investor in the software industry, participating last year in a. Hgcapital acquires majority stake in iris accountancy. 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. 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. Hgcapital sells iris software and computer software group. Free company information from companies house including registered office address, filing history, accounts, annual return, officers, charges, business activity. Iris accountancy solutions ias and iris software group isg, it has acquired a majority stake in both independent. Iris must do something to make the company a better company. The iris deal follows hgcapitals acquisition of visma in a deal that valued the norwegian software company at. Iris software is a professional software company having offices in usa, india and canada which provides high quality business solutions and support services. Hgcapital sells iris software and computer software group to.
Iris specialises in providing accounting and payroll software to private sector clients which include the royal opera house and bellway homes. Iris is one of the earliest examples of our focus on business critical software firms operating in attractive, predictable endmarkets. Group in britains iris, which valued the business software provider at. Group have made an investment in iris, a provider of software and services for the.
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. Apr 18, 2019 hg, the manager of hgcapital trust plc, today announces that it has agreed to make a further investment in visma, a leading provider of businesscritical software to private and public enterprises in the nordic, baltic and benelux regions. He continues to represent hgcapital on the board of iris software group. Hgcapital llp operates as a private equity company. Iris will be split into two entirely separate companies, being iris accountancy solutions and iris software group. Hgcapital looking to sell iris software group acq5. Intermediate capital group partners with hgcapital in iris. Megabuyte50 awards honour commify, foundry, access group. Iris provides business critical software and services to liberate time, talent and energy of uk businesses, including accountancy practices, schools and smes. Ias and isg were created following the split of iris software group ltd. The firms most common investment types include secondary buyout 34% and buyout lbo, mbo, mbi 23%. Hgcapital llp, 2 more london riverside, london, united kingdom, se1 2ap.
Hgcapital eyes iris software unit midmarket private equity group hgcapital is in discussions to purchase ias, the accountancy and payroll software division of iris software. Iris associates was an american software development company founded in 1984. This means the business has a highly resilient, recurring revenue base. Software group acquired in major private equity buyout insider media. Iris software group enters definitive agreement to acquire fmp global. Customers can install iris software on their computers or gain access to the software via the cloud. 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. Hgcapital looking to sell iris software group ukbased accountancy and payroll software provider iris software is up for sale, according to sky news.
Hgcapital acquired csh as part of its purchase of iris software group in 2011 and has now succeeded in separating csh out from iris and selling it on to a strategic. Iris must have some strong policies for each and everything. The company provides enterprise software for functions such as accounting, ticketing, staff planning, and automated correspondence. Iris is being put on the block by its private equity owners hgcapital, sky news first reported yesterday, which has enlisted techfocused corporate finance adviser. Learn more about iris software groups board and executive leadership team.
Iris claims to be the uks market leading provider of businesscritical software and services to clients in the accountancy and payroll sectors. The company also invests in two renewable energy funds. Hg capital has appointed arma to oversee a sale of iris likely to value it at well over. It developed the software for lotus notes subsequently ibm notes. Cinven, the global private equity firm, will sell its entire shareholding in visma as part of this. Hgcapital will remain a significant shareholder with a 12% stake in the combined group but lloyds tsb development capital will exit from its longstanding investment in iris. Hgcapital in talks to buy back ias financial times. Hgcapital eyes iris software unit institutional investor. 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. In the last 3 years, hgcapital has acquired 2 companies. Hgcapital announces joint venure with intermediate capital in. 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.
Iris provides software to accountancy companies and gps and is owned by private equity group hgcapital. Iris is a leading uk provider of businesscritical software solutions for compliance and regulatory driven industries such as accountancy, education, bookkeeping and human capital management. Hgcapital focuses on funds and equities, as well as offers investment advisory services. Hgcapital company profile office locations, competitors. Hg purchases cinven stake in visma company announcement. Our people meet our global team of talented experts.
It has produced strong growth by delivering a highquality product and exceptional customer service. Our portfolio the software and service businesses we partner with. May 23, 2018 intermediate capital group plc said it and hgcapital have taken part in a joint buyout of accountingsoftware provider iris, valued at. Growth and exit strategies for software and it companies, london 2009. Iris software is a global information technology services organization offering highquality solutions to businesses. Iris software limited company profile slough, united. Nic humphries, a partner and head of technology investment at hgcapital, called iris an example of a worldclass uk software company.
Hgcapital announces joint venure with intermediate capital. 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. 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 said the deal is the largest private equityled buyout of a software company in the u. The company invests in renewable energy, services, industrial, technology, media, and communications sectors. We seek out organisations that have this profile, in the regulatorydriven sme software sector, for investment. Iris software group enters definitive agreement to acquire. Hgcapital profits on sale of norways visma financial times. Private equity firm hgcapital trust on wednesday announced a joint. Hgcapital trust plc will participate in the acquisition of a majority stake in iris software group limited iris alongside other institutional clients. Hgcapital reinvests in the uk business software firms, iris.
Aug 02, 2010 hgcapital to buy software maker for 565m. We note press rumours that hgcapital is considering the sale of iris, a provider of software solutions to accountants, smes and the education. Iris software groups accounting and finance products and services help its customers keep track of their books and more. Building one of the uks most trusted providers of business. Hgcapital trust a specialist tech investor in the buyout market price 214. Hgcapital trust plc is a fastgrowing portfolio of unquoted investments, primarily in technology and technologyenabled services. Fmp is a leading provider of payroll and hr services to international and uk based small and medium sized enterprises.
L in britains iris, which valued the business software provider at 1. Lot of politics and it is visible to every team member. Even some of iris clients are involved in politics. Iris software group, a provider of businesscritical software and services to the uk accountancy, education and business market, has been. Hgcapital announces joint venure with intermediate capital in iris. A software company which supplies thousands of gp practices across britain is to be auctioned in a deal valuing it at well over. Hgcapital reinvests in the uk business software firms. All six are application software businesses and represent sweet spot characteristics that hg looks for in all of our investments. Working together partnering with you to build better businesses. Iris software group enters definitive agreement to. Alex has an msc from the london school of economics and an ma from the university of cambridge. Companies are awarded a scorecard rating a mark out of 100 and then ranked against their peers. This is underpinned by the average uplift to book value of 40% over hgts last 30 software and service businesses realisations. Hgcapital trust plc will participate in the acquisition of a majority stake in iris software group limited iris alongside other institutional clients of hgcapital.
It services the information technology requirements of fortune companies by utilizing specialized domain knowledge, bestofbreed technologies, rapidly deployable proprietary frameworkssolutions and flexible engagement models. The companys customer base numbers more than 17,000 accountancy practices and 80,000 small and mediumsized enterprises, which use its bookkeeping, payroll and human resource technology. Hgcapital, intermediate capital team up for iris buyout law360. Careers at iris we are a company built on hiring the best people who are interested in a challenge and want to work with a brand that gets things right for millions of people today and tomorrow. 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. Iris is a leading uk provider of businesscritical software solutions for compliance and. Hgcapital previously held a minority stake in the parent company. An investment in hgcapital trust plc provides exposure to a portfolio of more than 30 fast growing companies, run by an experienced and wellresourced manager. Hg saturn fund and intermediate capital group have made an investment in iris, a provider of software and services for the uk accounting. 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, the european sectorfocused private equity investor, has today announced that, following the separation of iris into two operating businesses. Csh is a leading provider of software to the uk legal and notforprofit markets and has an increasingly strong offering in accounting software for smes, ticketing, software modernisation, and compliance.
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