YFM backs Mynt Facilities with £650,000

The capital injection was made through the North West Fund for Development Capital, which launched in February 2011 on £45m. The vehicle is a sub-fund of the £185m North West Fund, jointly backed by the European Regional Development Fund and the European Investment Bank.

The investment is the fifth completed by YFM through the North West Fund for Development Capital and its third in Merseyside.

The capital injection will allow the firm to expand its staff base and develop its service offering.

Company
Founded in 1997 and based in Manchester, Mynt provides cleaning services to businesses, shops, schools and restaurants in Cheshire. The firm has grown through acquisitions, following the purchase of Maid in Cheshire in 2010 and Cresta Cleaning Services in St Helens in April 2011. Mynt has recently opened a head office in Liverpool.

People
Eugene Boyle and Jamie McGivern will join the Mynt management team as executive chairman and finance director respectively. Both previously worked at contract cleaning business InterCity Group, a former YFM portfolio company.

Simon Cleaver is investment director at YFM and manager of the North West Fund for Development Capital.

Advisers
Equity – Langtons (Financial due diligence); Hill Dickinson (Legal).
Company – RSM Tenon (Financial due diligence); Shoosmiths (Legal).

 

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