YFM in £4m Matillion investment

Capital for the transaction was drawn from YFM's maiden LP-backed fund as well as VCTs managed by the firm. Private co-investors also took part in the deal.

The deal marks the third investment from YFM's institutionally backed fund, which held a first close in June on £22m. Earlier in November, the GP backed the £4m management buyout of rubber and metal industrial components supplier Ferrabyrne.

A number of VCT fund managers are understood to be raising institutional funds in response to recent rule changes, which prevent VCTs from making buyout investments.

Following the Matillion transaction, former Octopus Investments venture partner Pieter Knook will take on the role of non-executive chairperson at the company. The company has also appointed US-based Brian Gentile, who has held a number of senior marketing roles at firms including Apple and Informatica, as non-executive director. In October 2016, Matillion expanded its presence in the US by opening a New York office.

Company
Founded in 2011 and headquartered in Manchester, Matillion develops data integration software. Its products enable companies to integrate data into the cloud and analyse that data.

People
YFM - Deborah Heyes (investment director).
Matillion - Matthew Scullion (managing director).

Advisers
Company - King & Wood Mallesons, Janine Suttie, Ylan Steiner (legal); Icon Corporate Finance, Eddie Harding (corporate finance)
Equity - DWF, Jonathan Robinson, Vicky Ross, Nick Hawthorne (legal); RSM Corporate Finance, Russell Armstrong (financial due diligence); Plural Strategy, Phil Stone, Jamie Berridge (commercial due diligence); Stratton HR, Anna Cornwallis (management due diligence).

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• Buyouts
• UK / Ireland
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• United Kingdom
• YFM Group