Perwyn acquires Agilitas from NVM for 8.4x returns

Katharine Hidalgo
01 December 2020

Tweet
Facebook
LinkedIn
Google plus
Send to

Perwyn has invested in an MBO for Agilitas IT Solutions, an outsourcer of inventory management to IT maintenance companies, from NVM Private Equity.

NVM mandated BDO to advise on the sale of Agilitas in September 2020, according to Unquote sister publication Mergermarket. The company generates EBITDA of £7-10m. Unquote understands Perwyn paid 4-8x EBITDA for the company.

Perwyn has acquired a majority stake in the company with NVM fully exiting the business.

Agilitas CEO Shaun Lynn has led the MBO, with the existing management in place to continue to lead the company and retain a stake. Bill Wilson has been appointed as the new chairman.

The investment is expected to go towards expanding the company's services portfolio and geographical footprint.

Previous funding
In 2003, UK distributor Acal acquired 70% of Computer Parts International, a UK provider of parts and logistics services, from its management and 3i for £5.8m.

NVM invested £6.4m in Acal in 2014, which later became Agilitas. No debt was used in the original transaction and the company did not make any acquisitions through NVM's holding period.

Company
Agilitas recorded revenues of £12m in the year to March 2019, up from £9m recorded in the same period the year before. Based in Nottingham and founded in 1990, the company is a provider of outsourced inventory management to IT maintenance companies.

People
Perwyn – Andrew Wynn; Mark Blower (partners).

Advisers
Equity – Alantra (corporate finance).
Vendor – BDO (corporate finance); CIL (commercial due diligence); DSW (financial due diligence).