PR UPDATE OCT

YFM £1.5m investment in e2E

E2E Engineering has secured a £1.5m investment from YFM Equity Partners in a deal which includes a new board appointment.

Based in offices in Welwyn Garden City and Gateshead, e2E specialises in evolving technologies and innovations. With support from the European Space Agency and Innovate UK, it has developed a suite of products and services designed to solve communications-based problems in the telecommunications industry.

The investment from YFM will be used to commercialise and launch the first product of this nature – NEATaccess.

As part of the deal, the private equity firm has also introduced Mark Hurley – an experienced director who holds a number of executive and non-executive positions – to the board.

E2E will continue to be led by Barry Ross, Eliot Minn and Chris Clarke, who founded the business together. Chief executive Ross said: "The telecommunications and satellite communications market is rife with opportunities at the moment, given the complex networks and ever-expanding communications channels on offer.

"At e2E we have proven experience of developing bespoke and successful solutions and with YFM's support we look forward to launching these to the wider market.“

Andy Thomas, investment director at YFM, added: "We were attracted to this opportunity due to the strength of the long-established management team and the exciting, unique technology that they had developed over recent years. "NEL Fund Managers introduced the deal and it was particularly pleasing to work with both them and local advisers to help bring this deal to completion. We look forward to helping this business to grow in the North East and Welwyn Garden City.“

YFM Equity Partners' funding came from its two advised VCTs – British Smaller Companies and British Smaller Companies 2.

The firm was advised by HLW Keeble Hawson (Matt Ainsworth and Michael Hall), while e2E was assisted by Bird and Bird (Richard Bloomfield and Struan Penwarden, Robert Taylor). Financial due diligence was undertaken by Irving Ramsay (Michael Cook), commercial due diligence by Access Partnership (Colin Thomson) and human resources due diligence by Stratton HR (Anna Cornwallis).

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