Private equity firm SilverTree Equity has acquired mhance, the UK-based Microsoft Solutions Partner, in a deal aimed at accelerating the company’s expansion in Dynamics, Azure, Power Platform and Data & AI services.
As part of the transaction, Julian Stone (right), founder of Pythagoras and former CEO of the Microsoft Dynamics partner acquired by EY in 2021, has been appointed executive chairman. He will take on a strategic role, supporting further acquisitions in the MSP and Microsoft ecosystem. Alan Moody (left) will remain in place as CEO, continuing to run the business day-to-day.
mhance employs more than 120 staff across London, Manchester and Dublin and serves over 500 customers in the UK and Ireland. It is one of the largest pure-play Microsoft partners in the UK, with a strong presence in the not-for-profit, membership, and construction sectors, and is also a leading Great Plains support and migration partner. Clients include WWF, Médecins Sans Frontières, RSPB and Sir Robert McAlpine.
Nicholas Theuerkauf, managing partner at SilverTree Equity, said the firm saw “significant potential to increase mhance’s growth organically and through M&A,” pointing to opportunities in adjacent verticals and the continued development of its Data & AI practice.
Stone added that Microsoft’s integration of AI across Azure and Dynamics was reshaping enterprise IT, with partners like mhance positioned to guide organisations through modernisation. “mhance combines proven Microsoft expertise, a strong track record of delivery, and its own IP to create tailored, high-impact solutions,” he said.
The deal comes as private equity interest in Microsoft partners continues to rise, with investors targeting firms that combine vertical expertise with scalable service models. In 2025, Bain Capital acquired Dutch Microsoft services partner HSO in a transaction valuing the company at around €1 billion, following a period of rapid growth under Carlyle’s ownership. In 2024, UK partner Transparity was sold by Beech Tree to Bowmark Capital after a string of acquisitions that expanded its capabilities across the Microsoft ecosystem.
