Maven’s backing will help support the document management service provider as it grows sales and the marketing capability of the business, expanding into the electronic document management sector.
The senior buy-in team has significant experience in the document management outsourcing market with managing director Martin Hurley and operations director Alan Hall having previously held senior positions with large companies.
Phil Dearden will also join the business as finance director, having worked previously in a number of successful businesses.
Martin Hurley, managing director at Prime Document, said: “The UK market is on the verge of realising the benefits to be gained from using the various electronic multi-channels to move business critical information around in a less expensive and more efficient manner than traditional print and post.
“With the backing of our investment partners we see Prime Document as being perfectly placed to capitalize on the opportunity to deliver innovative, industry leading services to our existing and future customer base."
Andy Thomas, investment director at Maven, added: “Prime has an enviable reputation in the market for delivering first class service to its clients, and is well positioned to expand its multi-channel approach to document management.
“We’re delighted to be backing the team and look forward to seeing the business continue to grow over the coming years.”
The transaction was funded by Maven Investor Partners, a syndicate of institutional and high net worth investors, some of whom have been working in partnership with the Maven team since 2006.
Maven has enjoyed a strong start to 2016 having completed investments across the property, technology, healthcare and media sectors.
Recent investments include supporting the expansion of innovative online GP business The GP Service, leading the £11 million MBO of interior fit-out contractor EE Smith, and the £15 million purchase and planned conversion of the Grade II listed Shire Hall in Durham into a 4-star boutique hotel.
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