YFM Equity Partners (“YFM”), the specialist private equity fund manager, has backed a £1.5 million investment into e2E Engineering Limited (e2E), a leading technical consultancy operating 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.
Based in offices in Welwyn Garden City and Gateshead, e2E has been at the forefront of evolving technologies and service innovations since 1999. With support from the European Space Agency and Innovate UK, e2E has used its wealth of 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, an innovative communications node, which is unique in the market place.
As part of the investment, YFM has introduced Mark Hurley to join the board, a highly experienced director who holds a number of executive and non-executive positions across a wide range of sectors. Mark has worked with YFM successfully in the past, most recently with the investment and successful exit from Insider Technologies.
The company will continue to be led by Barry Ross, Eliot Minn and Chris Clarke, who together founded the business.
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 in the North East and Welwyn Garden City.”
Barry Ross, CEO at e2E said: “The telecommunications and satellite communications market is rife with opportunities at the moment, given the complex networks and ever-expanding communications channels on offer. At e2E we have proven experience of developing bespoke and successful solutions and, with YFM’s support we look forward to launching these to the wider market.
“YFM is known for its impressive expertise in this sector and I look forward to working with them and Mark Hurley to enable e2E to reach its full potential.”
YFM was advised by HLW Keeble Hawson (Matt Ainsworth and Michael Hall), and e2E by Bird and Bird (Richard Bloomfield and Struan Penwarden, Robert Taylor). Financial Due Diligence was undertaken by Irving Ramsay (Michael Cook), Commercial DD by Access Partnership (Colin Thomson) and Human Resources DD by Stratton HR (Anna Cornwallis).