Lyceum’s Access adds on FactoryMaster
Lyceum Capital-backed Access Group (Access) has added to its Supply Chain Solutions (SCS) division with the acquisitions of FactoryMaster and its principal reseller, Compete IT.
The deals bring to 12 the number of add-on acquisitions by Access since its Lyceum-backed management buyout in March 2011. The company’s continued growth was confirmed in November 2013 when it announced increases in turnover and EBITDA of approximately a third to £43m and £9m respectively for the financial year ended 30 June 2013.
FactoryMaster is designed for companies which monitor and manage manufacturing activities. The Nuneaton-based business has over 170 customers including A&G Precision, Amfin, SL Engineering and MB Aerospace.
The software will integrate with Access’ financial solution Access Dimensions, offering additional functionality including stock control and resource scheduling, as well as being sold as a standalone manufacturing offering.
Chris Bayne, CEO at Access, said: “We’re already strong in manufacturing with over 800 customers. FactoryMaster fills a gap in our software portfolio and gives us an increased opportunity in sectors such as aviation and precision engineering.
“SCS is a growth sector for us; we’re seeing signs of recovery and improvement in manufacturing. Having FactoryMaster as part of our portfolio will strengthen our offering, and bring benefits to both our existing customer bases.
“By making this acquisition we’re able to offer a complete end-to-end manufacturing solution to UK companies. Whether they want a full ERP system, financials integrated with MRP or manufacturing software, we have the right software to suit.”
Graham Scott, the Managing Director of FactoryMaster who joins Access as part of the deal, commented: “Becoming part of Access is a huge step forward for us. It enables us to get our software to Access’ customers, and we’ll be able to share knowledge and expertise to offer some truly great solutions to UK manufacturers.”
Jeremy Hand, Founding Partner at Lyceum Capital and Access board member, added: “Access has undergone rapid growth since we first supported the business in 2011. These add-ons provide an even firmer footing for Access in the UK manufacturing industry, a key vertical market for the company.
“We will continue to support Access’ expansion in its key verticals as well as investing to support the roll-out of its hosted, cloud and SaaS capabilities.”