Software services firm Advanced has received a £2bn private equity growth investment from BC Partners.
“The funds will support Advanced’s aspirations to become the number one provider of business software solutions in the UK, while expanding its global footprint,” said CEO Gordon Wilson.
Vista Equity Partners - which acquired Advanced in 2015 - will continue as an investor, holding a 50-50 share of the business with BC Partners.
Since 2015 Advanced has grown rapidly with over 900 new staff employed across three regional service hubs.
It has also launched 14 cloud-based SaaS solutions and completed six acquisitions, extending its offerings to UK mid-market organisations in the public, private and third sectors.
“Vista and BC Partners will work to support our growth through continued improvement of our cloud-based software solutions and extending our offering through M&A and further innovation,” added Wilson.
Nikos Stathopoulos, Partner at BC Partners, noted: “Advanced has the hallmarks we look for in our investments, a market leader in a growing sector with a strong management team and multiple levers for growth, both organic and by acquisition.”