Telecommunications business 4net Technologies has received a £9m investment from YFM Equity Partners and other investors.
Dow Schofield Watts Transaction Services advised on the deal, which aims to support the continued growth of the business through new product and market development.
4net, which has offices in Manchester, Burton-on-Trent, Reading and London, develops contact centre and telephony solutions to UK enterprises and central and local government. It is one of a small number of Avaya top-level Diamond partners in the UK and has a range of other accreditations, and is the provider of the Antenna platform to a number of central government departments.
The business was founded in 2005 by Richard Pennington, Frank Jennings, Michael Jervis, and Steve Tyrrell. The team has grown the business extensively and will now be joined by industry veteran Iain McKenzie who will become non-executive chairman.
Nigel Owens, investment director at YFM, said: “4net has established an impressive reputation in providing innovative solutions to its corporate and government customer base, which has fuelled impressive growth. We look forward to working with the team in the next stage of its development.”
The investment is the fourth from YFM’s 2016 Fund, which closed in April 2017. Ed Brentnall led the Dow Schofield Watts team which provided financial due diligence to YFM.