GLE's equity finance business, YFM Equity Partners, invests £6.6m in specialist engineering firm, Seven Technologies.
Wednesday 18th April 2012
YFM Equity Partners has invested £6.6m into Seven Technologies, a Northern Irish engineering business that specialises in developing and manufacturing bespoke electronics and communications applications for operation in inhospitable environments for a wide range of international clients.
As part of the deal, YFM Equity Partners has introduced a Chairman to the business, Richard Moon, an experienced non-executive director in a number of sectors including communications and electronics.
Founded in 2005, Seven Technologies is headquartered in Lisburn, Co. Antrim and employs 42 staff. Gavin Williamson joined the business as CEO in May 2011, bringing significant hi-tech business development experience from multinational electronics manufacturing and integration organisations.
The company has a range of advanced products, such as electro-optic equipment and rugged computers, that it packages together to create bespoke solutions for particular requirements, typically involving use in harsh conditions prone to extremely high or low temperatures.
Seven Technologies prides itself in forming mutually beneficial partnerships with key organisations on a number of collaborative projects and shared research objectives.
One such partnership is with two centres at Queens University – the Centre for Secure Information Technologies and the Institute of Electronics, Communications and Information Technology.
YFM Equity Partners invested £6.6m in an all equity deal through three of its funds: Chandos Fund and its two British Smaller Companies VCTs. Paul Cannings, Investment Director and Giles Whitman, Investment Manager, YFM Equity Partners worked on this investment.
Commenting, Paul Cannings (pictured) said: “The Seven Technologies team has a strong track record of growing their business, a loyal customer base and a clear path to future success. We believe that our funding and advice can help continue Seven Technologies’ development into a leading provider of highly sophisticated flexible technology solutions that are in high demand.”
Gavin Williamson, CEO, Seven Technologies adds: “YFM Equity Partners is a great funding partner for our business, as they understand our sector and have a strong track record of growing small British businesses. This funding will support our continued rapid growth and further investment in our highly regarded operational support teams.”
For more information about equity finance visit http://www.yfmep.co.uk.