NVM backs £5m MBO of Arnlea Holdings

Amy King
09 June 2014

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NVM Private Equity has acquired oil and gas technology solutions business Arnlea Systems and partner company NexusAB via the ТЃ5m management buyout of Arnlea Holdings.

NVM's capital commitment will fund product development and international expansion.

No debt was involved in the transaction.

Arnlea's managing director Allan Merritt joined the firm in 2013; he is the former chairman of the board at Abermed, an occupational health and remote medical services company previously owned by NVM prior to a trade sale to International SOS in 2009. NVM enjoyed a 21% IRR upon exit.

NVM has ramped up its activity in recent weeks, backing the £6.4m MBO of Acal Enterprise Solutions and £5.7m MBO of The Fresh Group.

Company
Based in Aberdeen, Arnlea has more than 20 years' experience in the oil and gas technology solutions sector. The company's software is used by oil and gas operators, vessel owners, software contractors, equipment rental companies and other users that are able to manage and monitor their assets. Customers include Shell, BP and Chevron.

NexusAB operates integrated quality assurance and technical consultancy services via its proprietary software-as-a-service products. The firm is based in Aberdeen.

People
Mauro Biagioni is director of NVM. Dane Houlahan is head of KPMG's oilfield services M&A team in Aberdeen and advised on the deal.

Advisers
Management – KPMG, Rod Wilkinson, Chrison Wilson (Corporate finance). Blackwood Partners, Judith Quinn, Ross Fair (Legal); Hall Morrice, Bob Bain (Tax).
Company – Bond Dickinson, Jamie Pass, Iain Pritty (Legal).
Equity – Deloitte, Matt Henderson, Shaun Reynolds (Financial due diligence, tax); Armstrong Transaction Services, Tom Raymond (Commercial due diligence); Continuum, Steve Wycherley, Russell Thackeray (Other due diligence); Aon, John Donald (Insurance due diligence); Intuitus, Adrian Astley-Jones (IT due diligence).