NVM Private Equity (NVM) has sold its stake in Agilitas IT Solutions Limited (Agilitas) to international private equity investor Perwyn, providing NVM funds with an 8.4x return.
NVM Private Equity (NVM) has sold its stake in Agilitas IT Solutions Limited (Agilitas) to international private equity investor Perwyn, providing NVM funds with an 8.4x return.
NVM initially supported Agilitas with an investment of GBP6.4 million in 2014 as part of a management buyout.
Peter Hodson, Investment Partner and part of the buyout team at NVM managed the close relationship between the two firms over the past six years, as well as the subsequent successful exit process which was finalised on Friday 27 November.
With roots stretching back to 1990, Nottingham-based Agilitas was formally established in 2014, and is the UK’s leading channel services provider, delivering managed inventory solutions as well as technical, lifecycle and training services.
Led by CEO Shaun Lynn and Chairman Tom Kelly OBE, Agilitas is committed to demystifying technology for its channel partners, making sure that every digital problem is solved with a business solution across 67 countries.
The original investment fuelled the technology company’s ambitious growth nationally and internationally, providing funding for the automation of systems and cementing their status as one of the leading technology solutions providers in the UK.
During NVM’s six-year tenure with Agilitas, the company has continued to deliver year-on-year market-leading, double digit growth through the expansion of their channel service propositions and geographic footprint.
The company has achieved an ambitious innovation and transformation program that has provided supply chain efficiencies for Agilitas partners through automation and systems integration.
The firm has also been an integral employer in the Nottingham region, welcoming 115 team members, including 30 in 2020 alone.
Peter Hodson, Investment Partner at NVM, says: “Our initial investment in Agilitas came at a time when the company was seeking a partner to assist in delivering a new strategy. We are proud to have been part of the journey with Shaun, Tom and their amazing team and look forward to seeing them progress to even greater things with Perwyn as their financial partner.”
“This sale represents both a fantastic result for NVM’s investors but also for a high growth regional technology business in the UK”.
“2020 has been an unprecedented year for all, but our portfolio performance has remained strong and Agilitas is a great example of the kind of interest generated in high quality UK businesses. Despite challenging economic headwinds, we continue to believe that there are great opportunities to invest in exciting UK SME companies and are optimistic about 2021.”
Shaun Lynn, CEO of Agilitas, says: “I’m extremely proud of what we have achieved as a business since the management buyout back in 2014. Since securing the original investment with NVM, we have embarked on an incredible and exciting journey which nobody could have envisaged. I would like to thank the entire Agilitas team for continually supporting our vision, and I’m looking forward to standing with them shoulder-to-shoulder as we embark on the next phase of our journey together.”
The transaction is an example of the mid-cap M&A and PE market performing well despite turbulent economic conditions and strengthens NVM’s investment ethos of backing strong incumbent management teams in high-growth regional businesses.
NVM received corporate finance advice from BDO, legal advice from Geldards LLP, and commercial due diligence from CIL Management Consultants. Dow Schofield Watts Transaction Services provided vendor due diligence on behalf of the sellers and buy-side due diligence on behalf of Perwyn.
