Bury firm Prime Document undergoes management buy-in

Electronic document management firm Prime Document is targeting growth after undergoing a management buy-in.

The senior buy-in team, backed by private equity firm Maven Capital Partners, included managing director Martin Hurley and operations director Alan Hall, both of whom have previously held senior roles with a number of large electronic document management (EDM) sector companies.

Additionally Phil Dearden, who previously worked for Maven-backed fresh produce supplier Oliver Kay, has taken up the post of finance director with the Bury-based firm.

Prime Document MD Martin Hurley 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.”

Prime, which provides services for the production and delivery of documents such as payslips, pension and tax statements and invoices, has grown year on year since it was founded in 1999.

Today, the firm offers an outsourcing service to various large and mid-market businesses, as well as NGOs and local government bodies.

Maven investment director Andy Thomas said: “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 Prime management team was advised by accountancy firm Mazars.

Pete Terry, Mazars’ North West corporate finance partner, said of the deal: “It has been a pleasure working with the management team, Maven and Yorkshire Bank to get this deal done.

“Martin, Alan and Phil are a strong team, who know the document management sector well and Prime Document, a leading and well established player in the market, will give them the ideal platform to develop their offering in the sector.”

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