Silicon Valley Bank, the bank of the global innovation economy, today announced its Mandated Arranger role in new facilities to Access Technology Group ("Access"), a leading business management software company. The facilities support the acquisition of a majority stake in Access by TA Associates, a leading global growth private equity firm. Silicon Valley Bank has a longstanding relationship with TA Associates, lending to several of its portfolio companies in the US and UK.
Colchester-based Access was founded in 1991 and employs 750 people. Its software covers finance, HR and payroll, business intelligence, supply chain, CRM and warehousing, and can be deployed in the cloud, in a hosted environment or on-site. The company's applications help over 6,000 customers – including some of the most innovative and rapidly-growing enterprises in the UK – achieve operational excellence. In December, it acquired cloud hosting specialist StratoGen.
Paul Jackson, Managing Director of Corporate Banking at Silicon Valley Bank in the UK, said: "Having tracked Access for some time, we have gained an appreciation for the strength of the business, the quality of its management and its potential for further growth. We are excited to be working with TA Associates and the Access management team to support the business through its next phase of growth."
J. Morgan Seigler, a Director at TA Associates who will join Access's Board of Directors, added: "With a history of consistent growth, an impressive customer base, and an experienced and committed management team, Access is a highly attractive investment for TA Associates. We are delighted to be partnering again with Silicon Valley Bank, working closely with Access to further build value in the business."
About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life science, venture capital, private equity and premium wine businesses. SVB Financial Group provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations. (Nasdaq: SIVB) www.svb.com/uk .
Silicon Valley Bank is registered in England and Wales at 41 Lothbury, London EC2R 7HF, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Silicon Valley Bank is a subsidiary of SVB Financial Group, a Delaware corporation and is an affiliate of SVB Financial Group UK Limited. SVB Financial Group UK Ltd is registered in England and Wales at 41 Lothbury, London EC2R 7HF, UK under No. 5572575 and is authorised and regulated by the Financial Conduct Authority, with reference number 446159. SVB Financial Group and its subsidiary Silicon Valley Bank are members of the Federal Reserve System and Silicon Valley Bank is a member of the FDIC.
About Access Technology Group
Access is a leading author of integrated business management software. The portfolio spans solutions for ERP, finance, HR, Payroll, warehousing, business intelligence, professional service automation and manufacturing. More than 6,000 UK businesses and not-for-profit organisations use Access solutions to improve their performance, profitability and drive growth, unlocking their business potential through improved business insight. Access' industry-specific solutions differentiate it in the market, and templated solutions make for rapid and easy deployment. With Access, businesses can automate operations, streamline processes and share business information anytime, anywhere. Access' aCloud solutions integrate with its finance, ERP, HR and payroll solutions, allowing Access customers to test the cloud model without significant changes to their existing infrastructure, and with minimal cost. Designed as an open platform, aCloud can also integrate with third-party systems - whether in the cloud or on-premise. For more information, please visit www.theaccessgroup.com .
About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 440 companies around the world and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com .
Silicon Valley Bank – UK Branch
T: +44 (0)20 7367 8111