Vista Equity sells stake in Advanced to BC Partners
Summary
The funds from BC Partners will support Advanced’s rapid growth aspirations to become the number-one provider of business software solutions in the UK, whilst expanding its global footprint. This investment comes after a period of rapid growth and transformation for Advanced, the UK’s third largest software and services company. More recently, Advanced has launched 14 cloud-based SaaS solutions and completed six acquisitions, further extending its offerings to UK mid-market organisations in the public, private and third sectors. Vista and BC Partners share our vision for the future and will work to support our growth, benefitting our customers through continued improvement of our cloud-based software solutions and extending our offering through M&A and further innovation,” said Gordon Wilson, CEO, Advanced. We are pleased to partner with Vista and the Advanced leadership team to drive even more success for this high-quality business.” Philipp Schwalber, lead deal Partner at BC Partners added: “We see significant, long-term potential to build on what Advanced has accomplished over the past four years, including its strong track record providing mission-critical ERP, vertical market and application modernization software solutions to its over 19,000 customers.” Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners said, “Since 2015, we have worked closely with Gordon and the Advanced team to transform the Company into a leader in business software solutions.