ICG’s £1.3 Billion Joint Partnership Investment with Hg into IRIS

DC Advisory, Linklaters and OC&C advised Hg Saturn. The company was advised by Arma Partners, Skadden, Deloitte and Bain & Co. Ropes & Gray has advised Intermediate Capital Group

Intermediate Capital Group (ICG) finalized its £1.3bn joint partnership investment – alongside HG Saturn Fund – into IRIS, a leading provider of business-critical software and services to the UK accountancy, education and business market. The deal is the largest UK and third largest European private equity software buyout ever.

Over 21,000 accountancy practices and more than 80,000 small and mid-sized businesses, corporates, and payroll bureaus rely on IRIS to run their business every day.

The Ropes & Gray team was led by private equity partner Helen Croke (Picture) in London, with finance partner Alex Robb leading on the debt aspects of the deal. Other members of the team included private equity associates Tina Hartwright and Folake Fani-Kayode and finance associate Jack Bodkin.

Linklaters has advised Hg Saturn on the deal with a team led by Corporate Partners Alex Woodward and Chris Boycott.


Involved fees earner: Helen Croke – Ropes & Gray; Tina Hartwright – Ropes & Gray; Folake Fani-Kayode – Ropes & Gray; Alexander Robb – Ropes & Gray; Jack Bodkin – Ropes & Gray; Alex Woodward – Linklaters; Chris Boycott – Linklaters;

Law Firms: Ropes & Gray; Linklaters;

Clients: HgCapital; Intermediate Capital Group Plc;