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Exits of the Year - VCT Winners
YFM advises the British Smaller Companies VCTs and manages a number of LP funds. The BSC VCTs have assets under management of £155m and their portfolios delivered total returns of 18.5% and 12.6% in their most recent financial years. The firm’s exits over the judging period achieved a return of 3.3x original cost; YFM chose to put forward the largest exit, President Engineering Group, as an Award contender and it struck a chord with both the judges and the public. Sold in July 2015, PEG stands as a strong example of YFM helping to unlock the potential of a small regional business through international expansion: during the investment period, the business increased revenues by over 75%, driving an outstanding return for the firm’s investors. This growth was also evident when looking at the size of the business post-exit, with staff numbers having increased by over 71%.
Judges said: The judges were particularly impressed by the strong returns generated on exit by YFM, as well as the growth in profits for the business over the holding period