Vista Executive appointed new CFO at Advanced
Published 16/12/2015 by Gordon Wilson, Chief Executive Officer, Advanced
Leading UK software provider, Advanced, today announces the appointment of new Chief Financial Officer (CFO), Andrew Hicks, who will replace former CFO, Guy Millward. Hicks will lead the Group’s strategic and operational finance, legal and HR departments.
Advanced is the third largest UK-based software provider to the UK market and was acquired by private equity firm, Vista Equity Partners (Vista) for an enterprise value of £750 million in March 2015.
Hicks joins the Group with 15 years’ experience in the software sector, where he has served in senior finance roles in public and private equity backed firms both in the UK and USA. He is well placed to hit the ground running, after working for a number of Vista portfolio companies including Advanced’s sister company, financial services software provider, Misys.
Hicks also served as CFO of Vista’s P2 Energy Solutions, the world’s largest software and data solutions company, exclusively servicing the oil and gas industry, located in Denver, Colorado. His experience also includes serving as CFO at Turaz, which was formed from the assets of Thomson Reuters’ Trade and Risk Management Software business unit based in the UK.
Most recently, he served as CFO at Kewill, a global leader in multimodal transportation management and supply chain solutions. Similarly to Advanced, Kewill was taken from a public to a private business and its software platform enables companies to lower costs and increase efficiencies.
Gordon Wilson, CEO Advanced, says, “Andrew is a proven finance leader and his outstanding track record of working with Vista companies will stand him in good stead for the CFO role at Advanced. His experience of executing successful strategies will enable Advanced to further strengthen its financial position, extending value and offerings in the markets we operate.”
Andrew Hicks says, “Advanced is one of the UK technology sector’s true success stories, having grown revenues to more than £200 million in just six years. It is a company which has an excellent platform for organic and acquisitive growth and this is a business culture I’m very familiar with.
“I’m looking forward to bringing my experience of taking companies from public to private and to working with the senior management team to take the business to the next level by focusing on investments in people, products and processes.”
Hicks will be based at the new national HQ in Ditton Park, Slough and the new Midlands regional HQ at the Mailbox in the heart of Birmingham city centre. Advanced recently announced the launch of the new HQs as part of a major recruitment drive to attract 1,000 members of staff in the next 12-18 months.