Mid-market business applications provider Access Group has really been on the move since the £50m MBO in 2011. Management has grown the business via several acquisitions (see the string here) but also managed strong organic growth. In the last FY revenue was up a heady 32% to £43.4m, of which 13% was organic.
It made six acquisitions in the year either to populate its aCloud or move into new markets. EBITDA grew by 34% to £8.96m from £6.7m, but Access does not disclose net or operating profit. These will have been impacted by increased R&D costs and a higher headcount as well as the rush to acquisitions but the overall growth story is still strong.
The business profiles differ to varying degrees but nevertheless Access’s organic growth is outstripping the organic growth of other mid-market business software providers such as Advanced Computer Software (9%) and Sage (3%). Access has expanded the footprint of the business and entered the SaaS space (which was much needed catch-up work) but its progress is also a sign of the growing momentum in the mid-market as businesses look for value and functionality from their software providers.