The deal

FRP Corporate Finance advises FPE on its investment in Global App Testing

We’re pleased to have advised private equity firm FPE Capital LLP (‘FPE’) on its investment in Global App Testing, a global testing platform to the software development sector.

Our FRP Corporate Finance team, led by Debt Advisory Partner Simon Sherliker, together with Director Stuart Sweeney and Manager Karris Giani, provided lead advisory services to London-based FPE on the transaction, which represented the third investment from the private equity firm’s FPE Fund III.

Founded in 2013, Global App Testing combines a proprietary autonomous testing platform with an intelligent crowd testing network to deliver bug testing to quality assurance and development teams in the software development sector. Its clients include leading brands such as Google, Microsoft, and Booking.com.

FPE has backed Global App Testing to further accelerate its growth, which has seen it achieve 50% increase in annual recurring revenue (ARR) in recent years. The partnership will help Global App Testing to invest further in product development and autonomous testing, and support the team as they scale in the US.

Simon Sherliker, partner at FRP Corporate Finance, said: “FPE asked us to provide debt raising support for this transaction, confident in our ability to secure a flexible, market-leading ARR-based funding package that would assist their investment in Global App Testing and provide capacity to support the business’ ongoing strategic ambitions. In partnering with FPE, Global App Testing has positioned itself in the best way to further accelerate its already impressive growth. We wish FPE and Global App Testing all the very best for the next stage.”

Llewellyn John, Partner at FPE, added: “It was great to work with the debt advisory team at FRP Corporate Finance again. Their diligence in advising us through the debt raising process, whilst helping to secure acquisition finance facilities, resulted in the completion of another successful transaction.”

Santander provided debt facilities to the Global App Testing as part of the investment.