04:16, April 11 805 0

2018-04-11 04:16:14
Linklaters and Travers Smith lead in largest UK software buyout this year

Linklaters has advised Hg Capital in its investment in software company The Access Group, while Travers Smith represented its current majority shareholder TA Associates.

The deal will see Hg take joint ownership of the London-based technology group alongside TA Associates.

Linklaters partner Alex Woodward led for Hg on the corporate side, with managing associates Aneeq Durrani and Ben Suen. Woodward was supported by finance partners Oliver Sceales and Adam Freeman, as well as associate Amanda Fortuna.

Taylor Wessing corporate partner Robert Fenner was an additional adviser to Hg’s management team, representing the group on its new equity arrangements with TA Associates.

Travers Smith advised private equity house TA Associates, having won the top role for Lyceum Capital when it sold The Access Group in 2015 to a new vehicle funded by TA Associates.

The team was led by private equity partners Paul Dolman and Adam Orr, while finance matters were handled by partner Donald Lowe. Tax partners Kathleen Russ and Hannah Manning were also involved, as well as competition partner Stephen Whitfield.

Based in London and Munich, Hg invests in expanding segments of the TMT, services and industrials sectors and manages £9bn for institutional and private investors around the world.

The transaction is the largest UK software buyout this year and though Hg’s stake has not been disclosed, the investment values The Access Group at £1bn.