Freeths advises NoBlue2 on the acquisition of Viridian

Leading law firm Freeths has advised NoBlue2, a portfolio company of FPE Capital and a leading NetSuite Solution Provider partner and Microsoft Dynamics 365 partner, on its acquisition of Viridian, a leading Pigment partner specialising in business planning and analysis solutions.

The acquisition represents a significant milestone in NoBlue2's growth strategy and further enhances its Office of the CFO offering. By combining NoBlue2's established ERP and CRM capabilities with Viridian's expertise in enterprise performance management, budgeting and forecasting, the enlarged group is well positioned to provide customers with a comprehensive solution spanning operational systems, data and strategic planning.

The transaction continues NoBlue2's acquisitive growth journey following the combination of NoBlue and Elevate2 in 2023 and supports its ambition to expand both organically and through targeted acquisitions. Viridian's recognised expertise as a two-time Pigment Partner of the Year will further strengthen NoBlue2's offering to finance leaders and businesses seeking integrated planning and performance management solutions.

The multidisciplinary Freeths team was led by Corporate Managing Associate Grace Hill, supported by Corporate Partner Hannah Tessyman, Corporate Associate Khadeejah Patel, Tax Partner Stephen Jones, Tax Associate Zain Hanif, Employment Associate Sophie Lloyd, Commercial Consultant Mark Lumley, IP Senior Associate Kate Marrs and IP Associate Yasmin Hobrow.

Commenting on the deal, Grace Hill said: “We are delighted to have supported NoBlue2 and FPE on this strategic acquisition. Viridian is a highly regarded business with exceptional expertise in the planning and performance management space, and this transaction represents an exciting opportunity for NoBlue2 to further develop its offering and accelerate its growth strategy. It was a pleasure to work alongside the NoBlue2 and FPE teams on another important milestone in the group's development, and we look forward to seeing the business continue to build on its success.”

Chris Bunch, CEO of NoBlue2, added: “This acquisition is a significant step for NoBlue2. Bringing Pigment expertise into the business means we can offer customers a genuinely joined-up path from ERP through to strategic planning. Pigment is experiencing incredible growth, and joining forces with the top global partner strengthens our Office of the CFO offering and sets us apart from other companies in the market.”

Harriet Hunt, Investment Director at FPE, said: “We are delighted to have completed this acquisition, which represents another important milestone in NoBlue2's growth journey. Viridian has built an outstanding reputation in the enterprise performance management space, and its expertise in Pigment perfectly complements NoBlue2's existing ERP and CRM capabilities. The combination strengthens the group's offering to finance leaders and reflects our continued commitment to supporting strategic acquisitions that enhance the platform's capabilities and long-term growth prospects. Freeths was a trusted adviser throughout the transaction, providing commercial and responsive legal support which was instrumental in helping us successfully complete the acquisition.”

Freeths regularly advises private equity-backed businesses, management teams and investors on acquisitions, disposals and growth capital investments across the technology sector.