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12 Jul 2023

Stephenson Harwood advises FPE Capital on buyout of NoBlue and Elevate2

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Law firm Stephenson Harwood LLP has advised FPE Capital LLP, the specialist software and services focused lower mid-market growth investor, on its leading role in the buyout of two UK Oracle NetSuite partners, NoBlue and Elevate2.

This is the fifth investment from FPE Fund III – the firm’s third specialist software and services fund. The combined business, which will trade under the name NoBlue2, will create the leading NetSuite solutions provider in the UK. FPE's investment will enable the business to invest in further application development and related services, as well as expand its international capabilities.

NoBlue, which has offices in the UK and Europe, specialises in supporting digital transformation, and works across the software, fintech, discrete manufacturing, wholesale distribution, professional services and retail sectors. Elevate2 is the largest independent NetSuite solution provider headquartered in London, UK, with a further office in the Philippines. It works across a variety of sectors, including fintech, blockchain/Web3, financials services, professional services, media and publishing and hospitality.

The Stephenson Harwood teams for both deals were led by private equity partners Chris Manning and Malcolm MacDougall. For the NoBlue transaction, Chris and Malcolm were supported by associates Rajiv Kakkad and Lydia Zakrzewski. For the Elevate2 transaction, Chris and Malcolm were supported by associates Rajiv Kakkad, Kunal Shah and Grant McGregor.

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