YFM Equity backs tech consultancy
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.”