NVM Private Equity gets 3.6x return from e-know.net exit


computer code softwareNVM Private Equity has received a return of 3.6 times from the sale of hosted desktop and managed IT services company e-know.net to AIM-listed Nasstar for £13m.

The UK-based private equity firm backed e-know.net with a £1.5m investment in 2005.

The company provides hosted desktop and exchange services, managed voice over internet protocol, software-as-a-service and IT support.

E-know.net is focused on direct sales to the legal, financial services and recruitment sectors. It currently has 103 managed service clients, ranging in size from 1 to 1,500 users.

NVM managing director Martin Green said, “David Redwood and his team have developed a powerful hosted desktop proposition over the years, and it is now the right time for them to attract a wider client base.

“One of the key drivers to e-know.net’s success has been the team’s clear focus on providing a high quality service to long-standing clients.

“For NVM, there was no better way to understand a portfolio company’s client needs than to become a customer, and our transition to e-know.net’s cloud-hosted IT environment has proved to be a great success.”

Last year, NVM backed the £5.5m MBO of specialist elderly and disabled seating manufacturer Kirton Group.

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