Acquisition of Codestone Group by FPE Capital

Deal typeTransaction Services
IndustryTechnology & Media
Client nameFPE Capital LLP

FPE Capital LLP, a specialist investor focused exclusively on software and service companies in the UK, has partnered with the management team of Codstone, a leading Business Applications and Cloud services platform, focused on SAP and Microsoft technologies. This marks the ninth investment from FPE Fund II.

Codestone joins fellow technology services investments TNP and Intragen in FPE’s portfolio.
Codestone is a market leading Business Applications software and Cloud services platform. It is a serial winner at SAP’s annual channel awards, mostly recently awarded a record four awards in February 2021 including Best Performance in EMEA North (Business One & Business ByDesign). The business was founded by Jeremy Bucknell, CEO, and Dan Hobson, CCO, both of whom continue as significant shareholders following FPE’s investment. FPE’s investment marks the first outside investment in the business and provides the business with capacity to pursue acquisitions alongside strong organic growth.

"The BDO team offered invaluable support in helping us frame our offer for Codestone Group and then by providing focused top up due diligence services to support the transaction process. Their knowledge and experience of working with technology businesses and in performing due diligence on owner managed businesses was clearly demonstrated."
Chris Kay, Investment Director, FPE Capital LLP

"It was a pleasure to work as part of such a collaborative team, we were able to support FPE Capital with real time due diligence services as they submitted their offer for Codestone and then subsequently followed this through to completion."
Dougal Baxter, Partner, BDO LLP