Tenzing's FMP Global acquires MCN Associates

The acquisition will expand FMP's share of the US market. Prior to the deal, it had SME clients in 135 countries and managed £1.8bn in payments.

Tenzing is currently deploying capital from its debut fund Tenzing Fund I, which reached its £200m hard-cap in January 2017.

Previous funding
The GP acquired FMP in a £30m EV deal from Bond Software International in August 2016. The transaction included a £2m debt package provided by HSBC.

Company
Headquartered in Bristol, MCN is an HR consultancy specialising on US companies expanding into Europe. The company was founded in 2009.

People
Tenzing Private Equity – Christian Hamilton (managing partner).
FMP Global – Justin Cottrell (CEO).

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