IRIS Software Group wins award for Top Average EBITDA Margin, according to Grant Thornton Berkshire Limited report 

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Posted: 10th May 2024

IRIS Software Group (IRIS), headquartered in Slough, has been recognised in Grant Thornton’s Berkshire Limited report, which offers an extensive analysis of regional business performance across the county. IRIS earned the number one position on its ‘Top 50 Companies by Average EBITDA Margin’ list, as well as 15th place in its ‘Top 50 Companies by Turnover Growth’ list.

The report, created by a global network of independent accounting and consulting member firms, shines a spotlight on privately-owned businesses in Berkshire, celebrating their success and contribution to the wider UK economy.

IRIS provides industry-leading software solutions and services in the sectors of accountancy, education, HR and payroll to more than 100,000 customers across 135 countries. For IRIS, this achievement is not just a measure of strong financial success, but a reflection of the enduring relationships, product innovation, and ongoing pursuit to enhance its offerings to meet the needs of customers worldwide.

IRIS has grown its average EBITDA margin and turnover growth through a mix of organic growth as well as merger and acquisition activity.

In 2023 alone, the company strengthened its Human Capital Management offerings by acquiring UK-based Blue Octopus, Bishop Fleming’s Payroll Service Bureau and Bridgehead.

Additionally, in 2023, IRIS established Centres of Excellence in India and Romania to enhance its cloud-based solutions – driving further growth through technological innovation.

Further, IRIS has advanced its financial and strategic standing with a co-controlling investment from Leonard Green & Partners, a private equity firm based in Los Angeles. This significant transaction values IRIS at an enterprise value of around £3.15 billion, marking it as one of the most substantial software buyouts in Europe for the year 2023. This strategic move also fortifies IRIS’ expansion efforts in North America, backing its long-term strategy under the guidance of its global executive leadership team. Between May 2023 and April 2024, 25% of its revenue streams originated from the Americas.