Private equity firm FPE Capital has invested in TNP, a specialist software reseller.
TNP was founded in 2009 and is a reseller of Microsoft Dynamics NAV enterprise resource planning (ERP) software and services to mid-sized businesses in the UK. It has over 300 customers and 150 employees and has consistently achieved growth of more than 40% a year.
FPE Capital is backing the existing management team at TNP which is led by CEO Ian Humphries. Paul White, formerly Microsoft UK’s lead for the Dynamics product suite, is joining the company as non-executive Chair.
David Barbour, Managing Partner at FPE, said: "We are delighted to be partnering with Ian and his team. TNP’s growth has been impressive in recent years, whilst its strong focus on team culture and service quality has driven industry leading customer satisfaction levels. We see TNP as uniquely positioned in the Microsoft ecosystem and look forward to driving the shift towards the next generation of the Dynamics NAV product set.”
Ian Humphries, CEO of TNP, added: “We are very pleased to be in partnership with FPE who have shown a great understanding of our business model and enthusiasm to assist us in growing the business. FPE’s significant experience in enterprise software and with scaling businesses will help us to drive TNP to the next stage of growth.”
The transaction is the fourth investment by FPE’s £100 million maiden institutional fund and follows investments in three other software companies, Questionmark, Kallidus and Masstech.