International legal practice Osborne Clarke has advised long-standing client and UK lower mid-market investor, 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.
The Osborne Clarke team was led by Private Equity Partner Alistair Francis 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.
Osborne Clarke has a strong presence and is considered a go-to practice in the UK private equity market. The team work closely with leading private equity institutions, global businesses, fast-growth start-ups and market challengers, advising across all areas including equity and debt fundraising, M&A, IPOs and JVs.