FPE Capital partners with Intragen, a market leading pan-European cybersecurity consultancy
FPE Capital LLP (‘FPE’), a growth focussed private equity investor in UK mid-market companies, announces that it has completed an investment into Intragen, a premium cybersecurity services consultancy and systems integrator. Intragen provides market leading solutions within the fast-growing area of Identity & Access Governance (“I & AG”).
This transaction marks the sixth investment in FPE’s £101m maiden institutional fund, with Intragen joining Questionmark, Masstech, IWSR, TNP and Kallik in FPE’s portfolio.
Founded by Ian Yoxall and Mike Jones in 2006, Intragen has since grown to employ 40 expert cybersecurity consultants and operates from offices in the UK, the Netherlands, and Finland. The business provides I&AG consulting and implementation services to enterprise scale customers across northern Europe and is a platinum partner of market leading software products One Identity and Ping Identity, as well as utilising its own software tools and IP. Intragen has achieved rapid growth, with revenue growth rates over the past 3 years of 30% p.a.
FPE will partner with the existing founders and management team to help the business to continue its rapid growth trajectory. The existing founders will remain actively involved within the business, with Ian Yoxall as CEO, and Mike Jones as CTO.
The existing management team will be further bolstered by the recruitment of Bill Joss as non-executive Chairman and Julien Coe as CFO. Bill is a very experienced Chairman with a thirty-year track record of building successful businesses in the IT and Technology space, as well as of growing businesses internationally. Julian is an experienced CFO who has worked at a number of fast-growing tech firms, including Repositive and Ieso Digital Health.
David Barbour, Managing Partner at FPE, commented:
"We are delighted to be partnering with Ian and Mike to assist them to grow Intragen further and to continue its international expansion. Intragen’s success and market leading position is testament to the team’s continual focus on high quality service delivery and outstanding domain expertise. The I & AG market continues to expand rapidly, and we see Intragen as exceptionally well placed to capitalise on the opportunities arising from this highly dynamic sector”.
Ian Yoxall, CEO of Intragen said:
“We are very pleased to have partnered with FPE, who during this process have demonstrated a strong understanding of the market and of the dynamics of our business. FPE brings a wealth of experience in scaling businesses, particularly internationally, and we are excited by the prospect of working together to drive further growth in Intragen”.
Phil Allen, VP EMEA at Ping Identity, one of Intragen’s key partners, commented: "It’s great to see the leading identity security consultancy now has a really experienced investor used to helping high growth businesses behind it - allowing them to further expand their geographical reach and increase their expertise on the Ping's Intelligent Identity Platform. Intragen’s focus on delivering Ping's solutions will be a great benefit to our joint customers across the region".
The FPE investment was led by David Barbour, Dan Walker and Connor Trendell. FPE was advised on the transaction by Charles Russell Speechlys (Legal), Wilkins Kennedy (Financial Diligence and Tax), Fairgrove Partners (Commercial), Sales Forensics (Sales and Marketing), SIG (software), Grant Thornton (tax structuring), Continuum Ventures (Management), Corolive (HR) and Spectrum Corporate Finance (M&A). The selling shareholders were advised by Results International (M&A) and Osborne Clarke (Legal).
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