Key Facts
Initial investment: 10/06/2021
Sector: Technology
Fund: Buy Out Fund IV
Status: Current
Investment Highlights
- Broadened Fournet’s cloud capabilities following partnerships with technology partners Content Guru and NICE.
- Two acquisitions made to date, including C-Ways in May 2022 and Nowcomm in April 2023.
- C-ways adds additional infrastructure and security capability and brings new vendor partners to the group, including Extreme and Fortinet. Nowcomm is a highly accredited Cisco partner that brings managed security and networking capability.
- Launched a Customer Experience (CX) division which delivers data led digital transformation to improve customer experience, reduce operational costs and automate processes.
- Developed the business’ ESG credentials with particular focus on People and Carbon Offsetting.
Partnership Motivation
FourNet is a highly respected, well-managed business with a loyal customer base. We see significant opportunity for FourNet to strengthen its position in the market place as the go-to cloud services supplier to the public sector. Given our strong track record in the Technology sector, particularly in IT, cloud and managed services, we believe we will be able to assist management in capitalising on the market opportunity.
We will look at selected buy-and-build opportunities, but we also see great potential for organic growth. We also see a major opportunity to work with management to further develop the company’s already strong environmental, social and governance credentials, an area where there is ever-increasing awareness and significance within the public sector procurement process.
Richard Pennington – CEO FourNet
With 25 years’ experience leading successful teams and businesses in highly competitive markets, Richard is responsible for the overall strategic direction of the business and has led FourNet to deliver 45% year-on-year compound growth.
Richard provides board sponsorship for key customers and strategic projects such as ANTENNA and Agile Cloud. He has led the business through its key stages of growth, transitioning to become one of the UK’s leading cloud and managed services providers.
Our new partnership with Palatine further positions us as a prime player in the technology sector and we are delighted to be working with their team.
Palatine’s investment will keep FourNet at the forefront of the industry and will also provide the fuel for us to lead further change across the sector, while allowing us to capitalise on the rapid growth in demand for cloud, collaboration and managed service solutions.
Chief Executive Officer – FourNet
