THE NAV PEOPLE

Company overview

The NAV People (TNP) is the UK’s leading value added reseller of Microsoft Dynamics NAV enterprise resource planning software and services to mid-sized UK corporates. Founded in 2009, the business has grown from 6 staff members to 150 and has over 300 customers. It has consistently achieved growth in excess of 40% p.a. and is seen as a champion in the Microsoft Dynamics space.

In order to drive TNP to the next stage of growth, the business recently received investment from FPE Capital, a growth PE investor with experience in enterprise software.

Brief & process

FPE Capital’s Chris Kay and Llewellyn John approached Directorbank’s George Heppenstall at the pre-deal stage to identify a private equity-experienced CFO.

The successful candidate would support the CEO of TNP and the shareholders in the execution of a successful growth strategy whilst managing the needs of the investors and funding partners through the production of insightful and accurate financial and commercial information.

Candidates for the position required a track record of helping Management Teams deliver successful results and a marked improvement in shareholder value, particularly in the B2B IT Services sector. Exposure to PE transactions was also essential and a familiarity of the pressures and challenges this ownership structure brings to an organisation.

Given the need for a swift process, George – with support from the Research team – undertook a thorough search of our immediate network of proven and potentially-relevant CFO’s. A wider network of contacts was additionally utilised in order to identify further recommendations for the role. 

Suitable candidates were pinpointed quickly and their skills and experience qualified against the Client brief. FPE Capital, in conjunction with the CEO of TNP, then met a selected short-list before identifying Chris Powell as the preferred candidate for the role. 

The selection process was completed in advance of the investment being confirmed with all parties reaching an agreeable position before completion.

Result

Chris is a KPMG-qualified Chartered Accountant with many years experience in PE and VC backed businesses including multiple successful exit processes. He has operated in the IT and Software sector on a number of occasions and brings commercial and operational knowledge to the role in addition to first class financial reporting and management skills.

Previous CFO roles include AutoLogic Diagnostics, a PE-backed automated software business, Alcumus Group, Transport Systems Catapult and Helveta.