In a groundbreaking deal, IRIS, a preeminent software provider, achieved a valuation of £1.3 billion after a substantial buyout by Hg Saturn Fund and ICG. This transaction stands as the largest private equity software buyout in UK history.
IRIS, renowned for its business-critical software, serves thousands across the UK daily. The buyout cements its status and sets the stage for further advancements in the accountancy and education sectors.
The UK software landscape witnessed a significant development as IRIS, a leading provider of business-critical software, achieved an enterprise valuation of £1.3 billion. This milestone followed a joint investment by Hg Saturn Fund and Intermediate Capital Group, representing the largest private equity software buyout in UK history. The valuation underscores IRIS’s pivotal role in the accountancy, education, and business sectors.
The buyout is not just a financial transaction; it’s a testament to IRIS’s strategic vision and operational excellence. The company serves more than 21,000 accountancy practices and over 80,000 small and mid-sized businesses daily, reflecting its extensive footprint and influence. The investment is poised to catalyse further growth and innovation.
IRIS’s advisory team, including Arma Partners and Skadden, played a vital role in realising this transaction. The involvement of reputable firms like Deloitte and Bain & Co further highlights the deal’s significance and potential impact on the broader market.
IRIS’s presence across the UK, with locations in Berkshire, London, Manchester, Wigan, and Stockton-on-Tees, ensures a wide reach and robust support network. Such a comprehensive presence is crucial for delivering consistent service and driving operational efficiencies.
The investment from Hg and ICG offers a platform to accelerate IRIS’s strategic goals, fostering an environment conducive to innovation and excellence. As the company navigates future challenges, maintaining its focus on strategic growth and partnerships will be instrumental in sustaining its industry leadership.
The financial specifics of the buyout were not disclosed, pending regulatory approval. However, the significant valuation and backing from esteemed investors highlight the confidence in IRIS’s potential. This transformative deal sets a precedent in the private equity landscape and positions IRIS for continued success in the competitive software sector.
IRIS’s landmark buyout reinforces its distinguished position within the software industry. The strategic investments by Hg and ICG pave the way for future innovations, ensuring IRIS remains a formidable force amidst evolving market dynamics.