YFM Equity Partners (YFM) has backed the management buyout of Smart Numbers, led by incumbent MD Tim Hutchings.
The investment will enable Southampton-based Smart Numbers can take full advantage of developing market conditions and pursue its growth ambitions as it broadens its customer reach.
Hutchings said: "Our business is now ideally placed to pursue a new era of growth and to position itself as a go-to communications provider of digital marketing telephony for increasing numbers of small businesses in the UK and North America.”
Richard Last, former Chair of Gamma, joins the business as non-executive chair to support the company’s growth strategy, with Nathan Willis remaining as Finance Director.
Scott Woolaway will continue to hold a significant shareholding in the business, retaining a position on the board post-investment as Vice Chairman.