Lyceum Capital backed the £50m buyout of Access Group in March last year.
This latest bolt-on acquisition is the seventh deal for Access in the past 12 months, and sees the group strengthen its not-for-profit (NFP) offering, where it already has over 530 customers including BBC Children in Need and Citizens Advice using its finance and human resources software.
The latest addition to the portfolio means Access will provide a fully-integrated finance and fundraising CRM system to the sector.
“Having worked closely with the not-for-profit sector for many years, we know that there is strong demand for tightly integrated finance and fundraising systems,” said Access CEO Chris Bayne.
“With the acquisition of thankQ, Access is now able to offer a fully integrated best-of-breed solution bringing time and cost savings to our NFP customers and improving the reporting of both financial and non-financial data.”
He added, “Our aim is to help charitable organisations focus their efforts on core activities – such as donor and fundraising management – and to ensure they are not burdened by administration and paperwork.
“We can now provide a fully-integrated solution that improves the speed and ease with which charities access and work with data, and integrate invoice and donation transactions to aid decision making through better reporting.”
The acquisition allows Access to strengthen its sector focus by leveraging the joint expertise in both companies and building on best practice in software development, implementation and support.
NFP customers can now move away from manual data transfers between fundraising and finance systems and enhance their solution with collaborative, mobile and agile business intelligence.
For the financial year to June 2013, Access is on track to produce EBITDA of about £8.5m on revenues of £43m, with organic growth expected to be in double digits.
The company will continue its investment in R&D with a focus on a cloud based proposition, alongside further strategic acquisitions, the company said in a statement.
In September it also bought French-based innovative business intelligence specialist Prelytis for €4m.
Lyceum Capital, the British lower mid-market buyout firm that spun out of European commercial lender West LB, is currently in the market with its third fund, AltAssets reported exclusively in March.
Sources said the firm, whose notable investments include high street sandwich chain EAT, has set a £275m target for Lyceum Capital III and a hard cap of £325m, and reached a first close in June.
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