YFM backs £6m Springboard MBO
YFM Equity Partners has invested £3m in the £6m management buyout of Springboard Research.
The investment will be used to expand the company in the US and Europe.
Company
Cranfield-headquartered Springboard Research provides retail performance monitoring. The company offers details such as footfall, dwell time, conversion rates and sales analysis.
The company works with 325 shopping sites across the UK and measures 60 million footfall counts each week. Springboard recently launched in the US and central Europe.
Springboard employs 27 people and was established in 2002.
People
Former Avery Berkel CEO Tim Bittleston has joined Springboard as non-executive chairman as part of the deal. Steve Booth is CEO of Springboard. Giles Whitman, investment director at YFM, led the deal.
Advisers
Management – Grant Thornton, Karl Gamble, Mike Hughes (Corporate finance); EMW, Ian Morris, Kirsty Simmonds, Kim Opszala (Legal).
Equity – ASB Law, Helen Mead, Rebecca Burford (Legal); Crowe Clark Whitehill, David Ellis, Geert Struyven (Financial due diligence).
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