Cinven acquires NPS from KKR's Northgate Information Solutions

Capital for the transaction was drawn from Cinven’s fifth fund, which held a final close in June 2013 on €5.3bn.

Following completion of the deal, NPS will look to expand its product offering for healthcare screening and the police.

Cinven stated it was attracted by the company’s share of a niche market, diversified client base and growth track record.

KKR acquired Northgate Information Solutions in 2008, in a take-private giving the business an estimated enterprise value of around £1bn.

Company
Originally founded as Computer Machinery Company in 1969, Hemel Hempstead-based NPS is a provider of software and outsourcing for the public sector. The business’s clients include around 400 local authorities, all UK police forces, social housing providers and NHS hospitals. For the year to April 2014 it generated revenues of £181m, up 7.2% year-on-year, and EBITDA of £42m, up 6.9% year-on-year.

People
David Barker is a partner at Cinven and Chris Good is the firm’s principal. David Meaden is chief executive of Northgate Public Services.

Advisers
Equity - DC Advisory (Corporate finance); Freshfields (Legal); Deloitte (Corporate finance); Bain and Company (M&A).

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• Topics
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• UK / Ireland
• Buyouts
• KKR
• Cinven
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