Southampton's Smart Numbers set for further growth as YFM Equity Partners backs buyout

Southampton-headquartered communications specialist Smart Numbers is primed for further growth after Reading's YFM Equity Partners has backed an £18.1 million management buyout led by the former's managing director Tim Hutchings.

Founded in 2005 by Scott Woolaway, Smart Numbers aimed to provide small businesses with trackable inbound phone numbers that could be placed in advertising.

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It has since evolved into a Google Partnered digital marketing business that combines website development alongside personalised optimisation software and smart telephony solutions, boosting lead generation for thousands of businesses across the UK.

The company is well placed to capitalise on the switch-off of the UK's analogue phone network due at the end of 2025. Businesses will be required to move from the PSTN to IP-based services before the deadline.

YFM partner David Wrench said: "Smart Numbers is a very well-regarded, specialist business that has dedicated itself to meeting the ever-evolving needs of its customers.

"We are confident that it will continue to follow a strong growth trajectory, as it helps more customers switch to cloud-based, digital telephony and reaches a wider swathe of the small business sector with its raft of expert marketing services."

Hutchings added: "With YFM's backing, our business is now ideally placed to pursue a new era of growth and to position itself as the go-to communications provider of digital marketing telephony for increasing numbers of small businesses in the UK and North America.

"The YFM team has provided us with invaluable business growth insight and guidance, and we look forward to reaching new heights with their support."

Woolaway said: "I have enjoyed nearly 20 years of leading Smart Numbers Ltd, having built a fantastic team and a successful business gaining customers across several continents, I take immense pride in all our achievements.

"After working together for more than a decade, I have absolute confidence in handing over full day-to-day control of the business to Tim Hutchings."

Woolaway, reportedly, will continue to hold a significant shareholding in the business and retains a position on the board post-investment as vice chairman.

In addition, Richard Last, former chair of Gamma Communications, joins as non-executive chair to support the company’s growth strategy and Nathan Willis remains as finance director (FD), it was reported.