Shearman And Sterling

News June 14, 2022

The Access Group’s Refinancing - Europe’s Largest Ever Unitranche Financing

In another market-leading transaction, Shearman & Sterling advised the financing sources to The Access Group in relation to a marquee refinancing transaction and the financing of a substantial further investment by its shareholders, Hg and TA Associates. This is the largest private debt financing transaction ever undertaken in Europe.

The Access Group is a leading provider of business management software to mid-market organisations in the UK, Ireland and Asia Pacific. In a press release, the Access Group confirmed that this further investment from its shareholders Hg and TA Associates (with an associated enterprise value of £9.2 billion) is believed to make it one of the largest UK-headquartered software providers.

This transaction builds upon the team’s strong momentum in the European leveraged finance market, having advised on a significant number of leading unitranche transactions over the last few months, including advising the lenders in connection with the financing supporting Partners Group's acquisition of Forterro and advising the lenders in connection with the financing supporting CVC Capital Partners’ acquisition of RGI.

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