Loughborough cloud firm posts “outstanding financial results”

Lincolnshire’s digital sector worth nearly £1bn and growing
Credit: Shutterstock.com/ TierneyMJ

Revenue has grown 41% to £214m at The Access Group, the cloud solutions provider, while EBITDA is up 45% to £74m, according to results for FY 2019. This continues eleven straight years of uninterrupted profitable growth for the company.

The acquisition of nine companies has contributed to the growth, with organic growth also playing a major part with the addition of over 2,000 new customers in the core business, taking the total to more than 20,000 customers.

A key driver of growth has been the company’s SaaS cloud platform, Access Workspace, which now has over 150,000 users across Access’ commercial and not-for-profit sectors after its first year on the market.

After acquiring Riliance, a SaaS risk and compliance software provider, and Unicorn, a learning management systems provider, The Access Group has created a new division – Digital Learning and Compliance. It is already delivering risk and compliance solutions to a range of sectors, including legal and financial services.

Following the acquisition of Rapidata, the market leader in direct debit processing for the not-for-profit sector, Access extended its business in the payments category with the acquisition of Eazy Collect, one of the UK’s leading payment platform providers for SME’s, not-for-profit, blue-chip corporates and public sector.

Further strategic acquisitions of Volcanic, Microdec, Joyful, Conquest and iCareHealth have reinforced Access divisions operating in key vertical sectors including healthcare, recruitment and not-for-profit.

Chris Bayne, CEO of The Access Group, said: “I’m incredibly proud of this year’s outstanding financial results and the fantastic reception of our innovative cloud platform, Access Workspace, which truly transforms the way business software is used and delivers incredible value to our customers.

“As well as growing our proforma revenues significantly, it is great to see that our organic underlying growth has continued with a double digit increase in performance demonstrating the strength of the business as a whole.

“Over the course of the next twelve months we’ll continue to invest in new products and solutions to enable new and existing clients to improve their productivity, increase levels of efficiency and ultimately give our customers’ employees the freedom to do more.”