YFM backs 4net Technologies with £9m

The funding will enable the company to invest in new product development and marketing activity.

The GP has also introduced Iain McKenzie as non-executive chairperson as part of the deal.

The transaction is the fourth investment made from YFM's maiden closed-ended buyout fund, YFM Equity Partners 2016 (YFMEP 2016), which held a final close on £45m earlier in May. To date, the fund has backed the management buyouts of air conditioning and refrigeration equipment manufacturer TEV, telecommunications network installation business Indigo Telecom Group, and rubber and metal industrial components supplier Ferrabyrne.

Company
Founded in 2005 in Manchester, 4net provides telecommunication consultancy and support to UK enterprises, as well as central and local government. The company was founded by Richard Pennington, Frank Jennings, Michael Jervis, and Steve Tyrrell.

People
YFM - Nigel Owens (investment director).
4net - Richard Pennington (managing director).

Advisor
Equity - Shoosmiths (legal); Dow Schofield Watts (financial due diligence); Megabuyte (commercial due diligence).

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