Business software provider Advanced has secured significant investment from funds advised by international private equity firm BC Partners.
The £2 billion deal is for a reported 50 per cent of Berkshire-headquartered Advanced, which has bases around the UK.
Advanced, which will use the funds to boost its UK and global footprint, could not confirm the details of the deal.
Investment firm Vista Equity Partners, which acquired Advanced in 2015, will continue as an investor, partnering with BC Partners and the Advanced team to accelerate adoption of the company’s cloud-based ERP, vertical market and application modernisation software solutions.
The investment comes after a period of rapid growth and transformation for Advanced, the UK’s third largest software and services company.
Since 2015 the company has recruited more than 900 new hires across three regional hubs. More recently, it has launched 14 cloud-based SaaS solutions and completed six acquisitions, further extending its offerings to UK mid-market organisations in the public, private and third sectors.
“Today’s business leaders are under constant pressure to innovate, in order to sustain a competitive advantage,” said Advanced CEO Gordon Wilson.
“Vista and BC Partners share our vision for the future and will work to support our growth, benefitting our customers through continued improvement of our cloud-based software solutions and extending our offering through M&A and further innovation.”
Advanced aims to continue its growth through strategic acquisitions and investments in product innovation.
Nikos Stathopoulos, partner at BC Partners said: “Advanced has the hallmarks we look for in our investments – a market leader in a growing sector, with a strong management team and multiple levers for growth, both organic and by acquisition.
“We are pleased to partner with Vista and the Advanced leadership team to drive even more success for this high-quality business.”