A\u00a0York-based developer of human capital management (HCM) software has plans to recruit more people for its team and expand its headquarters after securing an equity investment of more than \u00a320 million.<\/p>\n
The investment in Mitrefinch by private equity specialists LDC is part of a management buyout led by chief executive Debbie Guppy. LDC has become a significant shareholder in the company, which is headquartered in Clifton.<\/p>\n
Mrs Guppy commented: \u201cOur overseas plans are to ultimately grow our international offices in Canada, Australia and the US. We have already started the recruitment process in the US, and will be expanding our established teams in these territories whilst looking at the business potential in other countries.<\/p>\n
\u201cThe news is incredibly positive for our employees based in York and as a result of the investment we will be looking to recruit around 20 more people to join the team. We also plan on expanding the office on Green Lane to accommodate this growth, and will continue to operate from York.\u201d<\/p>\n
Mitrefinch provides an integrated suite of HCM software handling\u00a0time and attendance, rostering, HR and payroll. Its software helps more than 3,500 organisations to reduce cost while improving efficiency and meeting compliance requirements.<\/p>\n
Customers include SMEs, mid and large corporates, public bodies, charities and higher eduction institutions, with brands such as L\u2019Oreal, Nestle, Amec Foster Wheeler, DFS, the Forestry Commission and the University of Leicester on the books.<\/p>\n
Mitrefinch\u2019s revenues have grown 50 per cent over the past three years, from \u00a310 million to \u00a315 million. Following LDC\u2019s investment, the firm plans to develop new and existing relationships in its more established UK business.\u00a0It also plans to invest in new product development.<\/p>\n
Jane Gilbert Boot, an investor in LDC\u2019s Leeds office, said: \u201cDebbie and the team have built an enviable market position for Mitrefinch, with a high-performing suite of integrated products and a loyal, fast-growing customer base.<\/p>\n
\u201cWith significant additional capital to invest in the business, a high-quality team and a clear growth strategy, it has a real opportunity to achieve a dominant position in a growing, consolidating and globalising marketplace.\u201d<\/p>\n
John Garner, director and head of LDC in Yorkshire and the North East, said: \u201cBacking Mitrefinch is another signal of our appetite to invest in the regions to support ambitious UK businesses and their management teams.<\/p>\n
\u201cThere are dozens more firms across the region with that same potential to scale, and it\u2019s important management teams know there are experienced partners like LDC who stand ready to support them.\u201d<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
A\u00a0York-based developer of human capital management (HCM) software has plans to recruit more people for its team and expand its headquarters after securing an equity investment of more than \u00a320 million. The investment in Mitrefinch by private equity specialists LDC is part of a management buyout led by chief executive Debbie Guppy. LDC has become […]<\/p>\n","protected":false},"author":1,"featured_media":3519,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,31],"tags":[167,201],"class_list":["post-1222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-software","category-tech-sparx","tag-software","tag-york"],"yoast_head":"\n