Initial investment: 10/06/2021
Fund: Buy Out Fund IV
Strategic Growth Plan
- Develop the business’ strong market position in public sector to continue to deliver double digit organic growth
- Target key M&A opportunities to augment capabilities of the group specifically around customer experience
- Improve the company’s existing strong ESG credentials through applying our leading ESG framework, monitoring and outcomes reporting tools
- Digital transformation of the systems to further automate the business
- Enhance the people and talent management strategy targeting the Sunday Times 100 Best Companies to Work For 2022
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.
As part of the strategy 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