PE Deals

Horizon Capital bids adieu to Sapphire

Sapphire is a digital operating platforms provider.

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  • NTT DATA Business Solutions is the buyer
  • Horizon Capital invested in Sapphire in 2020
  • Horizon is a private equity firm based in London

Horizon Capital has exited Sapphire, a digital operating platforms provider, to NTT DATA Business Solutions.

The transaction generated a 5.0x return on invested capital and 50 percent IRR.

Sapphire is based in London. It provides services to mid-sized and enterprise clients in the US and UK through its partnerships with SAP, ServiceNow, Infor SunSystems, HxGN and AWS.

Horizon invested in Sapphire in 2020.

Sapphire made four acquisitions, which enhanced its international offering and client proposition, and grew revenues from £38 million to over £75 million ($92.04 million; €86.2 million) and employees from 250 to over 420 during Horizon’s ownership.

Horizon is a private equity firm based in London.

NTT DATA Business Solutions is a group company of NTT DATA, a Japanese IT services and consulting company.

Sapphire shareholders were advised by Arma Partners (corporate adviser), CMS (legal) and Deloitte (financial and tax).