Osborne Clarke has advised Tenzing Private Equity on the sale of FMP Global to IRIS Software Group, backed by Hg.
Tenzing backed the management team of FMP Global in 2016. FMP Global is a leading provider of global payroll services and software, which was founded in 2006. With operations spanning 135 countries, a treasury solution and proprietary software for employers and employees, FMP Global is a one-stop partner for businesses expanding overseas or growing domestically.
With Tenzing as its investment partner, FMP Global’s revenue has grown significantly and its profitability has accelerated as the business has widened its service offering, expanded overseas, and broadened its payroll expertise. Tenzing supported management in re-engineering FMP Global’s marketing strategy to fuel growth and in building the company’s M&A capability.
Tenzing is an independent private equity investor that targets buyout investments in high organic growth UK SMEs valued up to £75m.
IRIS Software Group helps over 80,000 businesses, schools and public sector organisations successfully managing their critical operational tasks.
The Osborne Clarke team was led by Private Equity Partner Alistair Francis (Picture) and included Senior Associate Sarah Crabtree, Associate Charles Sunley and Client Relationship Partner Tim Hewens. In addition to specialists from across the firm, Tax Partner David Nisbet and Senior Associate Luolan Dong provided tax structuring advice.
Involved fees earner: Sarah Crabtree – Osborne Clarke; Luolan Dong – Osborne Clarke; Alistair Francis – Osborne Clarke; Tim Hewens – Osborne Clarke; David Nisbet – Osborne Clarke; Charles Sunley – Osborne Clarke;
Law Firms: Osborne Clarke;
Clients: Tenzing Private Equity;