Software firm has Access to £50m

BUSINESS management and accounting software firm Access UK has raised £50 million from Lyceum Capital.

Edinburgh-based Access, which has 5,000 clients, will pursue a rapid expansion programme and will be boosted by the arrival of chairman Gareth Denley and non-executive director David England.

The 28m-turnover firm will acquire the stakes previously held by founder Alistair O'Reilly and a number of other shareholders. Lyceum's Jeremy Hand and Phillip Buscombe join the Access board.