£2m support for Selima expansion

A YORKSHIRE-based company that helps a major police force to save money has received £2m backing from YFM Equity Partners.

YFM is supporting Selima, a Sheffield-based business which enables clients to manage their payroll and human resources services more efficiently.

Selima’s customers include Bristol City Council, Young’s Brewery and Greater Manchester Police.

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As a result of the deal, Wayne Blakemore, Michael Parry, Richard Beaton, and Jane Mercer are acquiring a majority stake in the business from the previous managing director Mark Kinnell, who will retain a minority stake. The company has more than 40 staff.

Mr Blakemore, who becomes Selima’s managing director, said: “We look forward to working with YFM Equity Partners as we grow the business at a time when organisations need more efficient and effective services to manage back-office functions.”

Mr Parry, who is the company’s sales and marketing director, said: “All organisations are under pressure to deliver more for less. Selima’s products and services have a proven track record of enabling its customers to achieve savings without affecting frontline service delivery”.

The £2m investment will mainly be used to expand the business.

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James Bullock at Irwin Mitchell provided legal advice to YFM Equity Partners, while Matt Beckley at DTE provided financial due diligence. The management team at Selima received legal advice from Rebecca Grisewood and Kate Richards at Gateley.

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