YFM seals second deal in a week by leading £2m Intamac growth round


intamac scottish powerUK-based YFM Equity Partners has made its second investment in a week by leading a £2m growth financing round for internet of things connectivity business Intamac.

The UK company’s cloud-based software is already being used by business including Scottish Power, Securitas and telecoms companies TDC and Belgacom.

Seraphim Capital and Carbon Trust also took part in the funding round, which brought the total raised by Intamac to about £14.5m.

YFM first invested in the business in 2010.

Firm director David Bell said, “We are delighted to support [CEO David Perez] and the Intamac team who have recently seen a rapid growth in sales prospects for their innovative Enso platform.

“The internet of things concept is being embraced by consumers with a wide range of new products coming to market, including cameras, heating controls, fire alarms and even fridge’s and washing machines.”

Last week YFM Equity Partners backed the £3.9m MBO of wide format digital printing business Macro Art, the creator of the world’s largest printed movie poster.

Copyright © 2014 AltAssets