Jamieson has advised the incumbent management team of Iris Software Ltd on their involvement in the management-led acquisition of Computer Software Group (“CSG”), backed by Hellman & Friedman LLC.
The combined business will trade under the “Iris Software Group” brand umbrella and will be the No 1 software provider to the UK accountancy practice, UK legal practice and UK not for profit sectors with revenues in excess of £100m. Martin Leuw and Neal Roberts the existing CEO and CFO of Iris will be joined by Vin Murria of CSG on the new Group board.
Both of the businesses have been acquired from HgCapital, which will remain a significant shareholder in the combined Group, whilst LDC will exit from its longstanding investment in Iris.
“We are delighted to have advised Martin and Neal on the deal. This transaction represents a fantastic opportunity for them to work with the team at CSG to extract value from the enlarged Group and continue their exceptional track record of profit growth.”
Ian Jamieson, Jamieson
“This deal provides us with a first class platform for future expansion both in the UK and overseas. It is excellent news for our customers as it significantly expands our R&D capabilities and service infrastructure as well as providing tremendous scope for career opportunities for our employees.”
Martin Leuw, Group CEO