NVM backs telecoms

Northern Venture Managers (NVM) has provided lead equity funding in a GBP11.4 million deal involving DMN Group, a leading UK telecommunications service company. NVM has committed GBP3.5 million in equity finance with the Royal Bank of Scotland providing the term loan and invoice discounting facilities. The funding package will provide DMN Group with a strong basis to further grow the business.

Oxfordshire-based DMN Group has been trading for 12 years and has forged close relationships with blue-chip equipment suppliers. The company is a leading supplier of qualified personnel to the mobile network expansion projects currently underway in the UK.

NVM Investment manager Martin Wright said: “DMN is a good investment for NVM as it has an established history of profitable performance and very strong earnings potential. I am confident the business will continue to row both domestically and internationally.

Due diligence was carried out by Deloitte and Touche and commercial due diligence was conducted by Schema. Morgan Cole, Dickinson Dees and Lemon & Co provided legal advice.