Ropes & Gray Advises ICG on £1.3bn Joint Partnership Investment with Hg into IRIS
UK’s largest ever and Europe’s third largest ever private equity led software buyout
Ropes & Gray has advised Intermediate Capital Group (ICG) on its £1.3bn joint partnership investment – alongside HG Saturn Fund – into IRIS, a leading provider of business-critical software and services to the UK accountancy, education and business market. The deal is the largest UK and third largest European private equity software buyout ever.
Over 21,000 accountancy practices and more than 80,000 small and mid-sized businesses, corporates, and payroll bureaus rely on IRIS to run their business every day.
The Ropes & Gray team was led by private equity partner Helen Croke in London, with finance partner Alex Robb leading on the debt aspects of the deal. Other members of the team included private equity associates Tina Hartwright and Folake Fani-Kayode and finance associate Jack Bodkin.
In June 2017, Ropes & Gray – again with a team led by private equity partner Helen Croke and finance partner Alex Robb - advised ICG on the $5.3bn consortium buyout of Visma, Europe's largest ever software buyout.