June 10, 2021 | Deals

GCA Altium advises FourNet on its sale to Palatine Private Equity

GCA Altium acted as exclusive financial advisor to the shareholders of FourNet, a provider of digital transformation and customer experience solutions, on its sale to Palatine Private Equity.

Headquartered in Trafford Park, Manchester, and with offices in London and Burton-on-Trent, FourNet is a trusted digital transformation specialist in cloud, communication, collaboration and customer experience solutions for critical industries.

The company has particularly deep vertical expertise in the public sector with its c.200 customers including 10 Downing Street, the Cabinet Office, HM Treasury and the Bank of England.

Reflecting its strong organic growth rate of over 25% year-on-year, FourNet featured in the Sunday Times Tech Track 100 for 2020. The company has also been acknowledged as one of the Best Tech Companies to work for in Britain.

The investment from Palatine Private Equity will see YFM Private Equity and two of the founding shareholders realise their shareholdings and exit the business. YFM will generate a 6x return in less than four years. Richard Pennington (CEO), Steve Tyrrell (Sales Director) and Iain McKenzie (Chairman) will be remaining with the business.

Richard Pennington, CEO of FourNet, said: “We selected GCA Altium because of their deep sector knowledge and track-record in private equity. We could not be happier with the result. They provided great advice, seamless execution every step of the way, and produced multiple attractive options we were able to choose from. Thank you!”

James Craven, Managing Director at GCA Altium, commented: “FourNet is an industry leader with exceptionally strong organic growth. The pandemic has increased the need for FourNet’s mission critical services as its mainly public sector clients have had to digitally transform and find innovative ways to collaborate in this new world. It has been a real pleasure working with Richard and team. We wish them all the best for their next stage of growth.”

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