NVM Private Equity (NVM) has announced it has sold its stake in Agilitas IT Solutions (Agilitas) to the international private equity investor Perwyn, providing NVM funds with an 8.4x return.
NVM initially supported Agilitas with an investment of £6.4 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, it is committed to demystify technology for their 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 though 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, said:
“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, said:
“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.”
This 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, commercial due diligence from CIL Management Consultants and vendor due diligence from DSW Capital.
NVM Private Equity is independently owned with over 30 years’ experience of investing in the UK SME market.
We are a generalist investor, currently investing from an institutional fund, and are differentiated by having executives living and working in regional business communities throughout the UK. We invest into UK based businesses requiring equity investment of between £5 million and £15 million and we are actively seeking to both identify and support ambitious management teams realise potential in the businesses they run. The teams we back may be looking to grow organically, acquire another business or secure a management buy-out.
As the leading provider of customer driven IT channel services, Agilitas are passionate and committed to demystify technology for our channel partners, making sure that every digital problem is solved with a business solution. Partners include value-added-resellers, managed service providers, system integrators, born in the cloud firms, vendors and distributors.
With a channel-only approach, Agilitas are the perfect complement to any services portfolio. Our vendor agnostic expertise enables us to deliver ‘as-a-solution’ service wraps that are focussed purely on a business outcome. Whether that is expanding geographic reach, enhancing service performance, reducing operational overhead, or improving a service proposition.
Our passionate team of experts, also known as our innovators, pride themselves on exceeding expectations and supporting in a way that empowers our channel partners in this digital age.
Agilitas IT Solutions Limited is based in Nottingham, UK.
For more information, please visit www.agilitas.co.uk or follow on Twitter at @AgilitasIT
Founded in 2013, Perwyn is an international private equity and growth equity investor, benefiting from evergreen private funding and an entrepreneurial, operationally-engaged approach. Perwyn seeks to build partnerships with the founders and management teams of high growth businesses, focusing on mid-market buy-outs of companies valued at £50-250 million and flexible growth investments.