UK growth investor YFM Equity Partners has invested £6.6m in Seven Technologies, a Northern Irish engineering business that makes electronics and communications applications for inhospitable environments.
Founded in 2005, Seven Technologies is headquartered in Lisburn, County Antrim, and employs 42 staff. It has a range of products such as electro-optic equipment and rugged computers for use in harsh conditions prone to extremely high or low temperatures.
“The Seven Technologies team has a strong track record of growing their business, a loyal customer base and a clear path to future success,” said YFM investment director Paul Cannings.
“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.”
The all equity deal was completed through through the Chandos Fund and YFM’s two British Smaller Companies VCTs.
Earlier this year AltAssets reported that YFM is looking to raise a new vehicle in 2012 to succeed the Chandos Fund with a target size of more than double that of its predecessor, making it the firm’s largest investment vehicle raised to date.
The new fund, which will seek commitments of around £100m, will provide expansion capital, MBOs or MBIs as well as partial sales and equity release situations for British SMEs with an enterprise value of £5m to £25m.
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