Maven has supported the management buy-in of Prime Document, a specialist provider of outsourced document management services, backing the management team’s plans to expand Prime’s footprint into the global EDM (electronic document management) sector, currently growing at around 9% annually according to industry experts, and to expand the sales and marketing capability of the business.
The senior buy-in team, led by Managing Director Martin Hurley and Operations Director Alan Hall, has significant experience in the document management outsourcing market, having held executive positions with several prominent market players. Phil Dearden, who is well known to Maven from his time as part of the senior team at former Maven investee company Oliver Kay, will also join the business as Finance Director.
Bury-based Prime specialises in the production and distribution of business critical documents such as invoices, pay slips, pension and tax statements, which are required to comply with stringent industry regulations or legislative requirements. Clients include a wide range of large and mid-market companies, local government bodies and NGOs, operating in sectors where the accuracy and reliability of document production is paramount as businesses work with increasingly large and complex data sets.
Prime has also developed ecco, a document management platform that facilitates the capture, storage, retrieval and multi-channel distribution of client information, which the business will use to expand its services in the international EDM market.
Maven has enjoyed a strong start to 2016, having completed a number of private equity investments across the technology, healthcare and specialist manufacturing sectors. Recent investments include: backing the expansion of innovative online GP business The GP Service; supporting new product development at scientific instrument manufacturer Blacktrace Holdings; leading the £11 million MBO of interior fit-out contractor EE Smith; and the £12 million MBO of Westfield Medical, a leading provider of sterilisation barrier products to the international healthcare and industrial sectors.