YFM Eq­uity backs tech con­sul­tancy

Yorkshire Post - Business - - CAPITAL MARKETS -

YFM EQ­UITY Part­ners, the spe­cial­ist pri­vate eq­uity fund man­ager, has backed a £1.5m in­vest­ment in e2E Engi­neer­ing, a lead­ing technical con­sul­tancy.

The con­sul­tancy op­er­ates in the telecom­mu­ni­ca­tions mar­ket, with par­tic­u­lar ex­per­tise in satellite com­mu­ni­ca­tions.

YFM’s fund­ing comes from its two ad­vised VCTs, Bri­tish Smaller Com­pa­nies and Bri­tish Smaller Com­pa­nies 2.

With sup­port from the Euro­pean Space Agency and In­no­vate UK, e2E has used its ex­pe­ri­ence to de­velop its own suite of prod­ucts and ser­vices that will solve com­mu­ni­ca­tions-based prob­lems in the telecom­mu­ni­ca­tions in­dus­try.

The in­vest­ment will be used to com­mer­cialise and launch the first prod­uct of this na­ture, NEATac­cess.

As part of the in­vest­ment, YFM has in­tro­duced Mark Hur­ley to join the board, an ex­pe­ri­enced di­rec­tor who holds a num­ber of ex­ec­u­tive and non-ex­ec­u­tive po­si­tions across a wide range of sec­tors.

Andy Thomas, in­vest­ment di­rec­tor at YFM said: “We were at­tracted to this op­por­tu­nity due to the strength of the long-es­tab­lished man­age­ment team and the ex­cit­ing, unique tech­nol­ogy that they had de­vel­oped over re­cent years. NEL Fund Man­agers in­tro­duced the deal and it was par­tic­u­larly pleas­ing to work with both them and lo­cal ad­vis­ers to help bring this deal to com­ple­tion. We look for­ward to help­ing this busi­ness to grow.”

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