Private equity firm 3i has disposed of its stake in West Midlands-based software company Lanner Group.

Private equity firm 3i has disposed of its stake in West Midlands-based software company Lanner Group.

NVM Private Equity is acquiring a minority stake in the business in a deal that values Lanner at £3 million.

3i backed the original management buy-out (MBO) of Lanner, formerly the simulation software division of telecoms company AT&T, in 1996.

The company develops software that enables big companies to simulate business processes, with end users including Ford, GSK and British Nuclear Group. It has 35 full-time staff in the UK, USA and France.