Private equity firm sells stake in Nottingham IT company
Nottingham IT firm Agilitas IT Solutions has been sold to international private equity investor Perwyn.
The deal provides an exit for NVM Private Equity, which invested £6.4m in 2014 as part of a management buyout.
Agilitas was 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 has customers across 67 countries and employs 115 staff at its Glaisdale Parkway HQ.
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.”
Ed Brentnall and Ros Jones of Dow Schofield Watts Transaction Services undertook vendor due diligence on behalf of the company and buy-side due diligence on behalf of Perwyn.
Brentnall said: “Agilitas is one of the most innovative and ambitious businesses we’ve worked with. At a time when companies with resilience and a business-critical offering really stand out in the market, Agilitas has firmly demonstrated those credentials. We’ve really enjoyed working with Shaun, Donna and the team, and believe Perwyn is a great partner to support their growth plans. We wish all parties the best for the coming years.”
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. Alantra advised Perwyn. The Alantra team comprised James Chapman-Andrews, Richard Sanders, Rena Sandhu, Tom Stoten and Tom Nash.
