Clearwater has advised the shareholders of education finance specialist HCSS Education on its sale to Access Group.
HCSS Education is an award-winning education finance software business, providing practical and effective Software-as-a-Service (SaaS) solutions to schools. Consistently adding value through its extensive experience and knowledge of the education sector, the business’ objective is to ensure that schools, academies and local authorities have the tools, support and guidance to ensure effective financial management. Its core financial planning products are soon to be joined by a market-leading full accounting software package which will also be delivered as SaaS.
Access is a leading author of integrated business management software. Its portfolio spans solutions for ERP, finance, HR, payroll, warehousing, business intelligence, professional service automation and manufacturing. The acquisition of HCSS will broaden Access’ education solutions, which it sees as one of its key verticals, as well as continuing to shift its revenue mix towards SaaS. Access is firmly back on the acquisition trail having completed its own secondary PE deal with US backers TA Associates in January 2015 for £225m.
