YFM Equity Partners has sold its minority stake in Manchester-based cloud and contact centre communications business FourNet, generating a return of 6x; the exit sees Palatine Private Equity take over the business.
North America-focused fund held a first close in June 2020 and has made 20 investments
Paragon Partners will own a 55% in the newly formed entity following the carve-out
FPE acquired the assessment software in 2016 and has sold it to Battery Ventures' Learnosity
Company was reportedly marketed based on EBITDA of €16m