The London Private Equity team advised Hg Capital, together with its affiliated investment funds, ("Hg"), in connection with their agreement to sell, alongside Insight Partners (a minority shareholder), their entire stake in Dext Software Ltd ("Dext") to IRIS Software Group ("IRIS"). The acquisition will unite two sector-leading cloud-based platforms – Dext's Bookkeeping Automation Platform and IRIS Elements – to deliver a complementary and fully integrated, end-to-end solution for accountants, bookkeepers, and businesses. The transaction will allow IRIS to accelerate Dext's product roadmap, infuse additional capital and enhance its partner integration program, which already connects to over 35 bookkeeping software platforms and over 11,500 banks & financial institutions.
Hg is a leading global private equity firm, and among the world's most specialist investors in specialist software companies. Hg focuses on building transatlantic champions that provide critical services for many thousands of businesses globally. The company has over 400 employees across London, Munich, New York, Paris, San Francisco, and Singapore; a current portfolio of over 50 businesses, worth $160 billion+ aggregate enterprise value, with 115,000+ employees globally, growing consistently at over 13% per year.
The Goodwin team was led by Gemma Roberts, Saya Sharma, Stefania Athanassopoulou, Matt Nestor and Angus Simpson ( Private Equity M&A) and included Katie Leah (Tax), Hugh O'Sullivan and Laura Kelly ( Finance), Sarah Jordan, Anuj Ghai and Sophie Entwisle ( Competition), Gretchen Scott, Genevieve Watt and Alex Mulligan ( IPTS), Phoebe Boag, Simon Woodcock and Samuel Cramer ( Real Estate), Akshay Chauhan and Alex Fisher ( Employment), Andrew Henderson and Matthew Dixon-Ward (Regulatory Compliance), Annabel Loose and Mihaela Angelova ( Data Protection), Sarah McAtominey ( Litigation) and James Taylor ( Tech and Life Sciences).
For more information on the deal, please read the press release.