YFM invests £2.2m in Hutchinson Networks

Hutchinson plans to use the capital to increase its staff from 90 to around 140 over the next two years, with most of the hires in technology.

YFM said the general move to cloud-based services across all industries was creating a large number of growth opportunities.

Capital for the transaction was drawn from YFM's British Small Companies VCT and VCT2.

Company
Established in 2011, Hutchinson is a B2B provider of multi-vendor IT and network services. It is based in Edinburgh, currently employs 90 staff, and expects to generate a turnover of £11.5m this year.

People
YFM Equity Partners – Nigel Owens (investment director).
Hutchinson Networks – Stephen Heslop (COO).

Advisers
Company – Chiene & Tait (corporate finance); MDM Commercial (legal).
Equity – Addleshaw Goddard (legal); Johnston Carmichael (financial due diligence); Megabuyte (commercial due diligence).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• UK / Ireland
• Technology
• YFM Group
• Venture