HMT LLP advised FPE Capital on their investment into leading UK-based employee benefits SaaS software provider, Zest Technology.
Software & services focused lower mid-market growth investor, FPE, has acquired Zest Technology, marking the tenth investment from FPE Fund II and the fourth pure SaaS product focused investment in the Fund.
Zest’s award-winning platform enables businesses to efficiently deliver and administer their employee benefits schemes and allows employees to view and easily manage their selection of these benefits. For employers, the software – which has been transitioned completely to a full SaaS solution – reduces the time and cost of administering benefits, whilst also increasing employee engagement and retention.
The transaction was sourced by FPE via direct discussions with Fintel plc, which had originally acquired Zest in 2013. The business is run by an experienced management team, and FPE will lead the expansion of the executive team and help to accelerate growth within the sizeable and expanding UK market, as well as internationally.
HMT undertook financial due diligence for FPE on this transaction.
Dan Walker, Partner and Co-Founder at FPE, commented:
“Thanks to all of the team at HMT for their assistance on the project. Paul, Corin and Alice worked hard to deliver against a short deadline, and provided us with high quality financial and commercial insight and analysis. We look forward to working with them again.”
Paul Read commented:
“We are delighted to have advised FPE on their acquisition of Zest Technology and their fourth SaaS product focused investment in the Fund to date. This investment will enable Zest to progress and build on its growth strategy and ambitions while strengthening its market position in the Human Capital Management software space. We look forward to working with FPE again in the future.”