N-able Bundle
Who owns N-able today?
N-able split from SolarWinds in July 2021 to become an independent NYSE-listed company, refocusing governance and strategy for its MSP software suite. Its roots trace to 2000 in Ottawa and a 2013 SolarWinds acquisition before the 2021 spin.
As of 2024–2025 N-able serves 25,000+ MSPs with >$400M annual revenue; ownership is mainly public float with large institutional holders after SolarWinds and PE sponsors fully exited post-spin. See N-able Porter's Five Forces Analysis for competitive context.
Who Founded N-able?
Founders and Early Ownership of the N-able Company trace to Ottawa in 2000, when Mark Scott, Gavin Garbutt and Desmond Russell established the RMM platform for managed service providers; initial equity concentrated with Scott and Garbutt while Russell and early engineers held smaller common pools.
Founding Team
Mark Scott and Gavin Garbutt led product and commercial strategy; Desmond Russell contributed core technical architecture.
Early Equity Structure
Founders held majority control in the early 2000s; public filings from the era did not disclose exact percentages.
Employee Incentives
An employee option pool was established with typical four-year vesting and a one-year cliff to attract engineers and channel talent.
Early Financing
Initial capital came from Canadian angel investors and local tech backers focused on product-market fit for MSP RMM.
Governance Provisions
Founders implemented buy-sell, ROFR and protective provisions common to private tech companies to preserve control.
Path to Liquidity
Founder liquidity was primarily realized through the 2013 trade sale; no major founder litigation was publicly reported prior to the sale.
Early international expansion used distribution partnerships while founders retained operational control and board consent rights aligned with founder and early investor stakes.
Key facts and implications
Founders, governance and early financing shaped n-able ownership history and acquisitions, influencing who owns n-able company now and subsequent parent company outcomes; see competitive context for more detail:
- Founders Mark Scott and Gavin Garbutt held concentrated equity and operational control in the early 2000s.
- Employee option pool used four-year vesting with a one-year cliff, standard for the era.
- Early funding came from Canadian angels and local tech backers supporting MSP RMM product-market fit.
- Protective provisions, ROFR and buy-sell clauses governed founder exit rights prior to the 2013 sale.
For broader market and competitor context, refer to Competitors Landscape of N-able
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How Has N-able’s Ownership Changed Over Time?
Key ownership events for N-able include its 2013 acquisition by SolarWinds, SolarWinds’ 2016 take‑private and 2018 IPO under PE sponsors, and N-able’s 2021 spin‑off and NYSE listing (NABL), which transitioned the company from sponsor-linked ownership to a diversified institutional public float.
| Year / Event | Ownership Change | Notes / Impact |
|---|---|---|
| 2013 | Acquired by SolarWinds | Reported enterprise value in the low hundreds of millions; founders largely exited or rolled limited stakes; N‑able operated as a SolarWinds subsidiary. |
| 2016–2018 | SolarWinds under PE sponsors | Silver Lake and Thoma Bravo controlled SolarWinds after a 2016 take‑private; SolarWinds IPO (NYSE: SWI) in 2018; N‑able remained within SolarWinds’ MSP segment and expanded offerings. |
| 2021 (Jul) | N‑able spin‑off and IPO (NABL) | SolarWinds distributed ~80.1% of N‑able common stock to SolarWinds shareholders, retaining ~19.9%; day‑one implied market cap ~$2.5–3.0B. |
| 2022–2025 | Shift to institutional public float | Residual SolarWinds/sponsor holdings were reduced; large index and active managers became dominant holders; no single controlling shareholder. |
N‑able’s ownership evolution reshaped governance focus toward ARR growth, net retention, and disciplined capital allocation while insider ownership stayed in the low single digits and institutions drove liquidity and oversight.
Major stakeholders and metrics
Post‑spin ownership is concentrated among institutional investors, with typical index/asset managers holding mid‑single to low‑double digit stakes each; insiders hold low single digits.
- Key institutional names often include Vanguard, BlackRock, Fidelity, T. Rowe Price (each commonly present in filings)
- Insider ownership: low‑single digits; periodic 10b5‑1 sales and RSU/option grants disclosed in Forms 4 and the proxy
- FY2023 scale: revenue around the low‑to‑mid $400M range, gross margins ~80%+, ARR as primary KPI
- Spin effect: SolarWinds distributed ~80.1% of N‑able stock in 2021; sponsor‑linked stake initially ~19.9% and later reduced
For additional context on business model and revenue composition that influenced investor interest and valuation at IPO, see Revenue Streams & Business Model of N-able
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Who Sits on N-able’s Board?
N-able's board in 2024–2025 features a majority of independent directors with SaaS, cybersecurity and MSP channel experience; the company uses a one-share-one-vote structure with no disclosed dual‑class or super‑voting arrangements. The board includes the CEO as a management seat, independent committee chairs, and directors from enterprise software, MSP operators and PE‑backed scale‑ups.
| Position | Typical Background | Voting/Committee Role |
|---|---|---|
| Chairman / Independent Director | Enterprise software governance, public company experience | Leads board, often independent; oversight of governance |
| President / CEO | Management seat, operational leadership at N‑able | Cast management vote; recused from certain oversight votes |
| Audit Committee Chair | Financial reporting, Big Four or CFO background | Oversight of accounting, controls, auditor engagement |
| Compensation Committee Chair | Executive compensation and HR strategy | Sets executive pay, equity plans, say‑on‑pay liaison |
| Independent Directors | Ex‑MSP operators, large software vendors, PE scale‑ups | Majority of board; hold committee chairs and voting sway |
N‑able's governance aligns with NYSE/SEC norms: staggered board terms, standard committee charters, and annual say‑on‑pay votes; no shareholder currently holds controlling appointment rights and PE designees from the SolarWinds era rotated off as ownership dispersed. Active investor outreach and monitoring by activist shareholders over SMB/SaaS margins have been noted, but no prominent proxy fights were disclosed through 2024.
Board composition and voting power highlights
One‑share‑one‑vote structure; majority independent board with SaaS and MSP expertise. No dual‑class stock or golden share disclosed as of 2024–2025.
- Board majority independent; CEO holds single management seat
- Audit/Comp chairs drawn from independent directors ensuring oversight
- PE designees from SolarWinds era rotated off as ownership spread
- Shareholder activism monitored; company conducts active investor outreach
For additional market and channel context see Target Market of N-able.
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What Recent Changes Have Shaped N-able’s Ownership Landscape?
Recent ownership trends for N-able from 2021–2024 show a shift from sponsor-associated overhang to broader institutional ownership, with increasing index fund presence after benchmark inclusion; insiders retained modest stakes while equity compensation continued to tie RSUs and options to ARR growth, profitability and TSR performance metrics.
| Period | Ownership Trend | Capital Allocation |
|---|---|---|
| 2021–2022 | Legacy sponsor overhang declined; institutional buyers began accumulation; insider ownership modest | Focus on organic RMM/security features; selective tuck-ins |
| 2023 | Index funds added N-able after seasoning; continued institutional diversification; no major secondary | Authorized opportunistic buybacks; RSU/options tied to ARR, margins, TSR |
| 2024–2025 | Ownership broadly public with growing institutional weight; no controlling shareholder or privatization plans | Balanced product-led investment, disciplined M&A; disclosed repurchase activity in 10-Q/10-K |
Management emphasized organic product expansion in MSP security and data protection, supplemented by tuck‑in acquisitions to strengthen endpoint protection, backup and automation; analysts in 2024–2025 noted potential for further institutional accumulation if N-able sustains double-digit ARR growth and margin expansion, while no leverage-heavy buyout or dual-class moves have been indicated.
Institutional Accumulation
Index funds increased exposure after benchmark inclusion; institutions now represent a larger share of free‑float, supporting liquidity for N‑able stock information.
Insider and Compensation Profile
Insider ownership remained modest; equity compensation through RSUs and options links pay to ARR growth, profitability and TSR performance metrics.
Capital Allocation Priorities
Capital flowed to product development in security and data protection for MSPs; selective tuck‑ins targeted endpoint protection, backup and automation capabilities.
Buybacks and Dilution Management
Share repurchase authorizations in 2023–2024 were executed opportunistically to offset dilution; repurchase amounts and activity were disclosed in 10‑Q/10‑K repurchase tables.
For further detail on strategic direction and ownership evolution, see Growth Strategy of N-able
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