Access loses Paul Druckman in MBO

EX- ICAEW PRESIDENT Paul Druckman has stepped down as non-executive chairman of technology business Access UK, following a management buy-out.

Accountancy software and consultancy business Access UK secured £50m credit from private equity company Lyceum Capital, to buy it from founder Alistair O'Reilly and other stakeholders.

Druckman (pictured) joined the board in 2004, becoming non-executive chairman in 2009. He currently sits on the International Integrated Reporting Committee working group as co-chair. The IIRC aims to help businesses include environmental information in its financial reports.

He is succeeded by Gareth Denley who has previously worked as a director at IBM UK, and Spring Group, he was also a CEO at Rebus HR.

Chris Bayne, who led the management buy-out, is the new CEO. The company has said it will increase sales by 15% in the next 12 months.

Chris Bayne, CEO of Access, said: "It's fitting that on the 20th anniversary of Access' incorporation we've agreed a deal which marks a significant step change in the speed and scale of the business' expansion and secured the backing of an investment partner with an outstanding track record of generating sustainable growth.

"Our thanks go to exiting group managing director Alistair O'Reilly and non-executive chairman Paul Druckman, who have played a key role in helping the business get to where we are today."

Established in 1991, Access is now a £28m turnover business with nine UK offices employing more than 300 people.