Leonard Green & Partners and Hg Take Co-Controlling Stake in IRIS Software Group

Leonard Green & Partners Acquires Majority Stake in ECI Software Solutions

November 19, 2020

Cloud & SaaS

Leonard Green & Partners will acquire a majority stake in ECI Software Solutions from funds advised by Apax Partners and The Carlyle Group; financial terms were not disclosed. Funds advised by Apax Partners will retain a minority stake. ECI is a Fort Worth, Texas–based provider of cloud-based ERP and vertical-market SaaS for small and medium-sized businesses, with ~1,700 employees and more than 22,000 customers.

Leonard Green & Partners Acquires GeoStabilization International from KKR

September 26, 2024

Industrial Services

Leonard Green & Partners (LGP) agreed to acquire GeoStabilization International (GSI) from KKR. The sale returns roughly five times KKR's invested equity, and GSI's more than 900 employees will receive substantial cash payouts under the company's employee ownership program.

Intermediate Capital Group (ICG) Acquires Iver from EQT Private Equity

July 2, 2021

IT Services

Intermediate Capital Group plc (ICG) has agreed to acquire Iver Holding AB, a leading Nordic managed IT services provider, from EQT Private Equity (EQT Mid Market Europe fund). Iver, headquartered in Stockholm with more than 1,300 employees and strong multi-cloud, cybersecurity and IT outsourcing capabilities, was created by EQT through a merger and expanded via multiple add-ons; the transaction is expected to close in August 2021 for an undisclosed amount.

Hg Makes c.$1bn Strategic Investment in insightsoftware

July 13, 2021

Cloud & SaaS

Hg’s Saturn 2 Fund will make a c.$1bn equity investment in insightsoftware to become a significant minority shareholder alongside TA Associates, in a transaction valuing the business at an enterprise value of around $4.0bn. The investment will support insightsoftware’s continued scale as a cloud financial reporting and EPM platform, with existing minority shareholders Genstar and ST6 remaining supportive and TA and Hg sharing joint control.

ECI Partners Acquires Independent Governance Group (IGG)

October 30, 2024

Professional Services

ECI Partners has acquired Independent Governance Group (IGG), the UK provider of professional pensions trusteeship and governance services; LDC has exited its majority stake but has reinvested alongside ECI. Crescent Capital's European Specialty Lending strategy led the debt financing to support the transaction. IGG employs more than 200 people, serves 386 pension schemes with around £324bn of assets and will pursue further organic growth and acquisitions under ECI's ownership.

IRIS Software Group to Acquire FMP Global from Tenzing

August 14, 2019

Software

IRIS Software Group has entered into a definitive agreement to acquire FMP Global from Tenzing. FMP Global is a provider of international and UK payroll and HR services supporting over 1,750 businesses in 135 countries; IRIS says the deal expands its international footprint (including the US) and strengthens its UK payroll and HR capabilities.