Linklaters, Travers and Taylor Wessing advise on private equity deal valuing UK tech firm at £1bn

Travers Smith, Linklaters and Taylor Wessing are advising as investment trust HG Capital invests more than £30.9m in The Access Group.

The investment means Colchester-headquartered software developer Access has an enterprise value of about £1bn.

Travers is advising Access’s current majority shareholder, private equity outfit TA Associates. As part of the deal, it will take joint ownership of the group alongside HG Capital.

The firm’s team is being led by private equity head Paul Dolman. Private equity partner Adam Orr, tax partners Kathleen Russ and Hannah Manning, finance partner Donald Lowe and competition partner Stephen Whitfield are also advising.

Previously, Travers represented Lyceum Capital and its management on the sale of Access to a newco or corporate spinoff funded by TA Associates in 2015.

Linklaters is advising new investor HgCapital, with its team led by corporate partner and co-head of global financial sponsors sector Alex Woodward. Leveraged finance partners Oliver Sceales and Adam Freeman are also advising.

Last year, Woodward advised European private equity fund Montagu on its investment in Norwegian software company Visma. Montagu was part of the collection of investors led by HgCapital.

Taylor Wessing is acting for HgCapital’s management with a team led by corporate and technology partner Robert Fenner, and including private equity partner Duncan McDonald.