YFM completes £6.6m investment in Seven Technologies
Experienced non-exec Richard Moon joins as chairman
Seven Technologies, a Northern Irish engineering firm which develops bespoke electronics and communications products for inhospitable terrain, has received a £6.6m investment from YFM Equity Partners.
The deal was channelled through YFM’s Chandos Fund, as well as its two venture capital trusts for British Smaller Companies. Under the terms of the agreement, YFM has recruited Richard Moon, a seasoned non-executive director with experience in the communications and electronics spaces, as chairman of Seven’s Lisburn-based team. Moving forward, YFM is confident that it can drive further growth in its investee. Paul Cannings, YFM’s investment director who led the deal, said: “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.” Since its formation in 2005, Seven has grown to encompass 42 employees, and has earned widespread acclaim for its electro-optic equipment and ultra-durable computers. Over recent months, growth has come through a series of partnerships with the likes of Queens University and the MEDUSA Consortium, a pan-European defence industry network. Gavin Williamson, who joined Seven as CEO twelve months ago, said: “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.”