YFM sells stake in Sheet Piling

YFM Private Equity has reported a 3.7 times return on its investment in Preston-based construction business Sheet Piling.

The firm has sold its shareholding back to the management team, nine years after making its initial £500,000 investment.

YFM has made a 20.17% internal rate of return (IRR) on the deal.

Through its British Smaller Companies Venture Capital Trust, it supported the management team’s buyout of Sheet Piling from its parent company in 2001.

The company, which operates in the driven steel piling industry, has clients including Asda, Balfour Beatty and Persimmons Homes.

David Gee, investment director at YFM Private Equity, said: “Over the time of our investment the business has grown rapidly to establish a strong market position and delivered significant levels of profit.” 

David Bell, YFM’s portfolio director, added: “We have enjoyed a good relationship with the management team who have delivered on their original ambitious plans.  Although we have chosen to now realise the value of our shares we would like to wish the team every success.”