A £20 million head office for a $1bn-plus “tech unicorn” is up and ready for occupation.
Leicestershire County Council has spent four years constructing the new global HQ for business software specialist Access Group on the Loughborough University Science and Enterprise Park.
It is believed to be the largest, single-occupier office deal in the county this century and Access Group plans to move in early next year.
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The business joined the so-called tech unicorn group last year – the term coined for young, high-growth companies valued at $1 billion.
It has grown exponentially over the past decade following a 2011 management buy-out and several rounds of private equity investment.
Only last month it reported growth in both revenues and EBITDA of close to 50 per cent as well as substantial investment for future expansion.
Turnover was £315 million in the year to June, up from £214 million a year earlier and £143.1 million a year before that.
EBITDA was £109 million.
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The group also recently secured further investment from its two largest shareholders – Hg, a leading European investor in software and tech-enabled services businesses; and TA Associates, a leading global growth private equity firm.
Access provides business management software to mid-sized organisations, and now has more than 35,000 customers across commercial and not-for-profit sectors.
It was founded in 1991, and employs more than 3,000 staff with a significant number based in the Midlands.
Chief marketing officer Chris Marjara said: “Our links to Loughborough University go back several years since we opened our technical development and support centre at LUSEP in 2016.
“We’re looking forward to being part of the future expansion and moving into our new office HQ in the early part of 2021.
“The board and our teams are excited to make the building our new home.”
Leicestershire County Council will collect around £1.6 million a year in rent from the property, to support its front-line services.
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Council leader Coun Nick Rushton said: “This underlines the strength of Leicestershire as a great place to do business as well as the county council’s place at the forefront of the drive for growth and innovation.
“It also cements Loughborough’s growing global reputation as a business and innovation centre and shows that Leicestershire is truly open for business.
“Our approach of building new workspaces is creating jobs and boosting the economy, which is vital in securing a good recovery from the Covid pandemic, and crucially, it means we can invest more into services such as maintaining our roads and supporting vulnerable people.”
The 109,000 sq ft office, close to junction 23 of the M1, was completed in less than four years with work continuing safely through the pandemic.
Loughborough University Vice Chancellor Professor Robert Allison said: “Since joining the LUSEP innovation community four years ago, the Access Group has developed mutually beneficial links with the university, expanded operations and affirmed its position as one of the 海角视频’s fastest growing tech employers.
“I am delighted that by working in partnership with the county council, we have delivered a fitting home for the company which also marks the start of exciting expansion at LUSEP within Loughborough and Leicester Science and Innovation Enterprise Zone.”
Leicester-based property, construction and infrastructure consultancy Perfect Circle helped with the plans.
Managing director Victoria Brambini said: “We’re delighted to see such a successful technology firm taking up their new premises in the county.
“The engagement of Perfect Circle at the earliest stage of planning and design, right through into project and cost management of the construction and fit-out, allowed the county council and Loughborough University to de-risk the project and deliver better outcomes.”