Tenzing Private Equity
Since March 2020 I’ve been working full time at Tenzing Private Equity where I am Entrepreneur in Residence. I run our growth team which is there to support our CEO’s and help our portfolio companies grow. I’ve known the Tenzing team for over five years as I have been Chair of the Entrepreneurs Panel since Tenzing was founded.
I write exclusively for Tenzing on private equity, leadership, company culture and growth and you can find all my work here on the Tenzing website.
I’m a trustee at the RG Foundation, a grant giving body that was created by a $5m donation from Reward Gateway. The charity exists to support people and organisations who are making the world a better, fairer, safer and more equal place to work.
Investor / Advisor
I’m an investor and occasional advisor to a number of startup businesses including Truly Experiences, Zeel Networks, Checkoutsmart and CommuterClub.
I founded Reward Gateway, the HR technology business, in 2010 and was CEO there for 12 years until 2018. For the last three years I’ve been supporting the new CEO Doug Butler and cheering on from the sidelines as a shareholder.
In 15 years at RG, we grew the business to £45million of recurring revenue and EBITDA of £22m. When I left we had over 2000 clients, served by 400 staff based in 7 offices in UK, Bulgaria, Macedonia, Australia and USA.
I managed two private equity sales – a £25m sale to UK based investor Inflexion Private Equity in 2010 and a £140m sale to Boston based investors, Great Hill Partners in 2015. I was a passenger on the final deal where I sold the last of my shares as part of our 2021 transaction with ABRY Partners and Castik Capital. Transaction value on the last deal was undisclosed but we managed the standard goal of a 3x return so I’ll let you do the maths.
I also bought six companies during that time – including a Bulgarian software house and several competitors in the UK and Australia so I’ve got good experience of M&A and company integration.
I was an board advisor at FMP between 2016 and 2019 and co-invested in the business alongside Tenzing Private Equity. During that time the business grew profits on average 28% every year. We sold the business in 2019 to IRIS Software Group, backed by Hg, generating a 5.4x return and 72% IRR.
Trees for Cities
I was a Trustee at the London based charity Trees for Cities from 2013 to 2016. The charity celebrated it’s 21st anniversary whilst was trustee and during that time achived the milestone of planting it’s millionth tree.
I was the first new trustee to be appointed since the charity was formed and, working with the chairman, I helped implement new articles of association, new trustee rules and policies, recruited a whole new trustee board and a new Chief Executive.