FPE Capital portfolio company TNP acquires significant NAV assets from K3 to accelerate growth
FPE Capital is pleased to report that its portfolio company, The NAV People (‘TNP’), the UK’s leading Microsoft Dynamics NAV and Business Central service provider, recently completed the acquisition of certain UK NAV-focused assets from the administration of K3 Business Technology Group’s Microsoft Dynamics business unit. The transaction provides continuity of service to over 100 NAV customers, who will now be supported by the largest team of Dynamics NAV/ Business Central experts in the UK, whilst accelerating growth in TNP’s recurring revenue base.
Since FPE’s investment in 2018, TNP has doubled customer numbers through its support-led marketing engine to existing users of NAV systems, new Business Central implementations, and this acquisition.
The transaction was funded in cash at completion from TNP’s balance sheet.
FPE Capital Managing Partner, Henry Sallitt, commented
“TNP is the market leading provider of NAV services and support in the UK, so we are pleased that these NAV customers have found a strong home. This transaction further accelerates the premium revenue growth being achieved by TNP as customers upgrade legacy business applications and migrate deployments to the Cloud, and FPE looks forward to continuing to support the business in its significant organic and acquisitive growth initiatives.”
Paul White, Executive Chairman of TNP, added
“The transition to the cloud creates real challenges for our smaller competitors, and a significant opportunity for those who have the depth to deliver the services that customers require and the quality of support that they have come to expect. TNP’s focus on Microsoft’s Business Central and Power Platform will serve the business well.”
Managing Partner, FPE Capital LLP