Equiteq advises The NAV People on its MBO

Mergers & Acquisitions | South East | Technology

Equiteq has announced that it has advised The NAV People (TNP) on its recent management buy-out, which was led by the existing management team and backed by investment from FPE Capital.

TNP is a value-added reseller of Microsoft Dynamics NAV and Dynamics 365 enterprise resource planning software, providing software, implementation and support services to mid-sized corporate clients, primarily in the UK.

TNP was founded in 2009 and is headquartered in Newbury. The company employs c.140 staff.

FPE is a private equity investor specializing in making investments into dynamic, growth companies in the lower mid-market in the UK. FPE is partnering with the existing TNP management team, which will continue to be led by CEO, Ian Humphries.

Ian has worked in the NAV sector for over 20 years and was a founder of Alpha Landsteinar Ltd., one of the first NAV partners in the UK, and became a senior executive at K3 BTG upon its sale to them.

Paul White has joined the business as non-executive Chairman. Paul was formerly Microsoft UK’s lead for the Dynamics product suite and brings 25 years’ experience in Microsoft Dynamics and broader Enterprise Software.

Ian Humphries, CEO of TNP, said: “We are very pleased to be in partnership with FPE who have shown a great understanding of our business model and enthusiasm to assist us in growing the business.  FPE’s significant experience in enterprise software and with scaling businesses will help us to drive TNP to the next stage of growth.”

David Barbour, Managing Partner at FPE, commented: “We are delighted to be partnering with Ian and his team. TNP’s growth has been impressive in recent years, whilst its strong focus on team culture and service quality has driven industry leading customer satisfaction levels. We see TNP as uniquely positioned in the Microsoft ecosystem and look forward to driving the shift towards the next generation of the Dynamics NAV product set.”

Discussing the transaction, Ed Groome, Managing Director of M&A in Equiteq’s London office, said, “With a strong record investing into software and business services companies, FPE are the ideal partner to support Ian and the management team in the next period of growth for the company. It’s an exciting period of change across the Microsoft ecosystem and TNP is now exceptionally well positioned to exploit the opportunity.”

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