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Deals Done

Renewable Technical Services Ltd

Catapult has completed a £900,000 investment into Northamptonshire-based Renewable Technical Services Ltd (“RTS”), a young dynamic company operating in the renewable wind energy sector. The transaction was led by Richard Bucknell and Ben Bolt of Catapult Venture Managers, and supported by Richard Medd of Browne Jacobson LLP in Nottingham.

RTS, headquartered in Kettering, is an engineering solutions provider, delivering installation, inspection and maintenance services to wind turbine manufacturers, wind farm developers and power generators. The company is at the forefront of an emergent sector of independent support service providers, employing innovative approaches to service the needs of its international clients, and increasingly looking to embed itself as a core long term service partner.

The investment will be used to accelerate the company’s recent growth, through commitment to the development of technology-enabled inspection and repair techniques, and gearing up the company’s internal resources to continue to deliver on the increasingly significant commercial opportunities being explored.

This is Catapult’s seventh transaction of 2010, and reflects the recognition of the Renewable Energy sector as an area set to enjoy long term sustained growth, and where the firm expects to see enhanced investment activity in the future.

BlueBella Ltd

BlueBella Ltd, a fast-growing direct sales lingerie and sensual products retailer, has successfully completed its first major financing round.   Its main investor, LoveHoney, is a market leader in the sensual products market in the UK. Other investors include Addidi, a network of female Angel investors and a fund managed by E-Synergy Ltd, the early stage venture capital specialist.

Ms Bendell participated in Connect Midlands’ investment readiness programme, Understanding Finance for Business, which gave her the opportunity to scrutinise her business from the point of view of an investor.

The newly raised funds will allow BlueBella to grow its party plan sales force into a national network and further develop its product offering.

BlueBella was advised by Alegro Capital and supported by Geldards in this transaction.

Atlantic Link

Catapult Venture Managers are pleased to announce the acquisition of Atlantic Link by Kaplan IT Learning

Atlantic Link, based at Nottingham Business Park, was established by a group of entrepreneurs seven years ago and is now the world’s leading provider of collaborative rapid e-learning authoring software. This software enables users to design and deliver professional on-line training to thousands of employees. The company’s UK clients include BT, Waitrose, Daimler Chrysler as well as financial institutions HSBC, Santander and Barclays.

President of Kaplan IT Learning, Brian Sholly, said: “We are very excited to join forces with Atlantic Link. This rare opportunity will allow Kaplan to expand our market presence and offer a much larger selection of products globally.”

Catapult supported Atlantic link with a £500k investment in 2008. Investment Director Jon Earl commented “Catapult invested in Atlantic Link as it was a business which we recognised had not only the ideas but the passion to deliver revolutionary products into a market used to seeing innovation, and we are delighted to see this realised through this successful sale. This is the first exit from our Catapult Growth Fund, launched in 2007, and delivers excellent returns with a minimum IRR of 42%.”

Doff Portland Ltd

Zinwave

Catapult Venture Managers has completed an investment into Cambridge based Zinwave Holdings Ltd, alongside existing investors Scottish Equity Partners, Atlas Venture and SEB Venture Capital.

Zinwave provides ‘in-building wireless active wideband systems’. Using its unique wideband technology, Zinwave provides a single system solution for all wireless services, allowing guaranteed unified indoor coverage at lower capital expenditure and running costs. The company has generated impressive sales traction, with a reference base of prestigious sites and a number of newly secured sales channels. This funding round is to support manufacturing expansion and further US and Asian sales growth.

UK Gear

Catapult Venture Managers has completed an investment of £1.125m into UK Gear, who have developed a range of high performance running shoes. Catapult were introduced to the deal by Investbx. UK Gear is increasingly recognized as a leading manufacturer of high performance athletic footwear and apparel and has built up a powerful reputation as a pioneer of innovative and technologically advanced fitness products. The company supplies trainers to UK Army recruits as well as the US Army and US Coastguard.

InaFishbowl.com

Nottingham-based InaFishbowl.com has secured funding from the East Midlands Early Growth Fund which matched investment from Andrew Springhall.

The website launched last year by Nottingham entrepreneur Toby Reid, tracks the development of three fledgling enterprises by broadcasting their every move in business. It combines business education with the real-life trials and tribulations of real start-ups in real time, and has been described as "Big Brother meets the Apprentice". The amount of money invested by the fund has not been disclosed, though it usually puts between £20,000 and £500,000 into innovative young businesses.

Intellitect Water Holdings

Catapult Venture Managers has committed a £1m investment into Worcestershire and Dorset based Intellitect Water Holdings Limited as part of a £2m funding round alongside existing investors.

The Intellitect Water team has developed a range of ground breaking water monitoring devices - the Intellisonde™ range - which can measure drinking water quality in network distribution pipes. Utilising the latest third party communication technologies, remote data can be transmitted to anywhere in the world in real time.

Lovestruck.com

Leading city dating site Lovestruck.com, which matches single professionals to others who work close, has successfully raised £285,000 in Series A funding from several business angels and the East Midlands Early Growth Fund.

The investment will enable Lovestruck to consolidate its position as the dominant player on the London dating scene and to roll-out its offering to major cities around the world. Read more...

Splash Video

East Midlands Early Growth Fund has invested into the Nottingham and London-based Splash. Splash Video has developed a suite of web-based video streaming, conferencing and broadcasting applications that can be offered as complete, end-to-end, ‘white label’ managed web services over email or from within any company’s website. The amount of money invested by the fund has not been disclosed, though it usually puts between £20,000 and £500,000 into innovative young businesses.

Biocontrol Limited

Biocontrol Limited, a Nottingham-based business that pitched at the Connect Midlands Investment Conference (CMIC) in November 2009, has received funding of £200,000 as it prepares for the final round of financing to take its products to market, with the first product line already through advanced clinical trials.

The funding, which comes from a private investor, will help to support the business, enabling it to work at “full speed” in the run up to the final founding round early in 2010. Read more...

Accutronics Limited

Growth Investment Network Member Catapult Venture Managers and Orbis Partners LLP have backed the acquisition of Accutronics Limited a bespoke, high performance battery design and assembly business.

The business produces high tech battery solutions for market leading global businesses in the medical, military and industrial products sectors. Formerly owned by GE and Energizer, the business was owned by a Chinese state owned conglomerate and known as Moltech Power Systems prior to Administrative Receivership in August 2009.

The acquisition and re-launch of the company as Accutronics has saved the jobs of 47 employees in Newcastle-under-Lyme.

Utility Exchange

Utility Exchange has secured investment funds to kick-start its expansion plans. The Derby-based business helps companies compare the price of competing energy providers. This first round of funding will allow the company to invest in its proprietary software; the company will pursue a second round of funding for a further £400,000 later in the year. The investment was made by the East Midlands Early Growth Fund with business support from Connect Midlands, both of which are funded by emda. Legal support was provided by Geldards.

Mohdoh

Leicester-based Mohdoh Limited have secured funding from one of the East Midlands newest venture capital companies, Turning Point. The brainchild of single parent Simon Palfreyman, Mohdoh is a revolutionary concept in play therapy whereby a natural ‘dough’ is treated with a unique concoction of essential oils and colour therapy to help children through everyday illnesses and disorders such as coughs, colds, travel sickness and sleeplessness. Turning Point has invested £60,000 in the business for a 40% stake and is also looking to support its development in terms of marketing to help secure High Street and mass market outlets. Read more...

Axilica

Loughborough-based Axilica has secured funding from The East Midlands Early Growth Fund and IPSO, each investing £25,000. Axilica has developed a powerful new software tool that enables the use of the Unified Modeling Language (UML) in the design of electronic hardware. The software enhances designer productivity when designing complex electronic systems, reducing development costs and reducing time to market.  

Intelligent Recording

Worksop-based Intelligent Recording has received funding from Bibby Finical Services across all invoices. Meaning that the time lag between issuing invoices and receiving payment has almost been completely eradicated, freeing up cash for the business.  The equity investment required by the company was provided by EV through its funds under management which offer investment of up to £2 million to new and existing SMEs located throughout the UK.

Intelligent Recording  specialise in the design, development and marketing of high technology digital call recording products for customer service, compliance, telephone transaction and security purposes.

For more information please click here

BPR Medical

BPR Medical, a Mansfield based medical devices company, has secured £500k investment from the newly formed Turning Point fund in conjunction with the East Midlands Development Agency (emda) backed East Midlands Early Growth Fund. The deal will see the company drive forward with very ambitious plans. 

BPR specialises in the manufacture of a range of oxygen therapy and medical gas control products for use in hospitals, ambulances and homecare applications throughout the world. 

The company recently won the prestigious Healthcare and Bioscience Innovation Award at the Medilink East Midlands Awards for its FireSafe™ product group. David Peel, Engineering Director of BPR, received the award on behalf of the company from Richard Farleigh – famous for his role as a Dragon on BBC’s “Dragons’ Den” programme.

Probe Scientific

Growth Investment Network member Catapult Venture Managers Limited have invested £500k into Probe Scientific Limited as part of a £1m funding round.
Probe Scientific Ltd is developing innovative disposable blood sampling products to solve clinical problems and improve healthcare.
The company has a substantial product pipeline based on its proprietary technologies and is seeking to commercialise this range. Probe’s first product allows for continuous, automated and real time sampling without removing blood from the patient.

Graze.com

Healthy snack company Graze.com has raised £2 million from two of the venture capital backers of DVD rental business Lovefilm.

Octopus Ventures and DFJ Esprit invested in Graze.com six months after the launch of its service, whereby healthy snacks such as fruit, nuts and seeds are delivered to office workers. The service has 15,000 subscribers who pay £2.99 per box.

Says Reeve, ‘The combination of Octopus’ private investor group and DFJ Esprit’s global network offers a pool of relevant experience that is already proving invaluable to the team.’

Octopus investment manager Alliot Cole led the transaction on behalf of the firm, with DFJ Esprit partner Nic Brisbourne in the corresponding role. John Finnemore, an associate at law firm Shoosmiths, advised Octopus on the deal.

Systems Integration (Trading) Limited

Catapult Venture Managers Limited have made an investment of £250,000 into Lichfield based Systems Integration (Trading) Limited as part of a £0.5 development capital deal.

Systems Integration provide complete software solutions to allow the meat processing industry to maximise profit and minimise waste. Their products are modular and can be applied to specific parts of the process or the whole line.

Monica Healthcare

Catapult Venture Managers has invested a further £300k into Monica Healthcare Limited, increasing Catapult’s total investment in the company to £1m.

The further investment was made as part of a £1.1m funding round, alongside PUK Ventures and the University of Nottingham. Monica has developed a miniature, wireless technology that can monitor the wellbeing of a mother and her unborn baby.
The device has received CE marking and is available throughout Europe. This funding round will support further regulatory approvals, continued rollout and further development.

Warwick Effect Polymers Limited

Catapult Venture Managers Limited has made an investment in Coventry based Warwick Effect Polymers Limited as part of a £1m funding round. Warwick Effect Polymers is an innovative polymer synthesis company, founded in 2001 as a spin-out from the University of Warwick. The company exploits its unique patented technology to produce novel polymers under commercially viable conditions for the biosciences, materials and speciality chemicals industries.

Catapult provides equity capital of between £200k and £2m for growing businesses.

For further information please contact: Graham Mold on  0121 616 0180 or visit www.catapult-vm.co.uk

Entiva Systems

Entiva Systems, based near Towcester in Northampton, have secured private investment backed by the East Midlands Early Growth Fund, after winning ‘Most likely to get funding’ at the Elevator Pitch Competition, held at Growth Investments Innovation and Investment Event with Rachel Elnaugh on 18th March 2009. Entiva Systems offers the mobile marketplace – caravans, motor homes, yachts etc - an easy to use, easy to install all-in-one entertainment system designed specifically for the mobile marketplace. 

Comply-Serve Limited

Catapult Venture Managers Limited has completed an investment in Comply-Serve Limited as part of a £0.8m funding round.

Comply-Serve Limited is a “software as a service” business delivering a unique web-based project compliance system to the rail infrastructure sector. The software is already used on a number of high profile projects, with more in the pipeline.

Metafocus

Metafocus a Nottingham based company have secured investment from The East Midlands Early growth Fund. Metafocus are an internet marketing and ecommerce website design agency headquartered in Nottingham and with offices in China.

The company has developed a multilingual content management system that enables global corporations to simultaneously update their websites in several languages, all optimised for the leading search engines in each locality. The amount of money invested by the fund has not been disclosed, though it usually puts between £20,000 and £500,000 into innovative young businesses.

Flowers-by-Florists

A Nottinghamshire business that acts as a secure network for florists is scaling up its enterprise after securing equity investment worth up to £168,000 from E-Synergy, East Midlands Business Angels and company management.

E-Synergy wanted to invest £84,000 from their Early Growth Fund but this had to be matched by new private money. This was provided by £30,000 from the existing shareholders and East Midlands Business Angels, who added a further £54,000.

“We are very thankful to the team at Connect Midlands for all of their help and assistance pre-investment, which included contributing towards various deal fees and appointing and part-funding our consultant, Lorna White, who now joins us a non-executive director. READ MORE

Atlantic Link

Catapult Venture Managers Limited have invested £500k into Nottingham based e- learning business Atlantic Link Limited.

Atlantic Link have developed a unique rapid e-learning training product which enables users to design and deliver professional on-line training to thousands of employees.

The deal will enable Atlantic Link to take full advantage of their recently acquired foothold in the American market place at a time when investment in training, especially within the financial sector, is becoming increasingly important. The company's UK clients already include BT, Waitrose, Daimler Chrysler as financial institutions HSBC, Santander and Barclays.

4 Energy

Catapult Venture Managers Limited and Carbon Trust Investments have invested £1m each into Nottinghan based 4energy.

4energy's innovative cooling systems have been proven to reduce the energy used to regulate the temperature of critical industrial electronic equipment by using 90% and have been installed by companies such as Vodaphone, EDF Energy and Scottish Power Energy Networks.

The Company will use the funding to roll-out global trials of its telecommunication base station cooling technology, extend its distribution network and continue investment in cooling breakthroughs in significant areas such as data centres.

Sight and Sound Technology

Catapult Venture Managers Limited have completed a £1.45m investment in the BIMBO of Northampton-based Sight and Sound Limited.

Sight and Sound Technology Limited are one of the UK's leading suppliers of IT products and services for people who are blind, visually impaired or have learning difficulties. Under the new ownership, Sight and Sound plans to roll out its new product, a mobile phone with integrated text to speech and screen magnification which will offer flexibility and mobility to users.

EMW Picton Howell LLP advised on the deal.

DigePrint Limited

Catapult Venture Managers Limited has completed a £600k investment as part of a £1.25m funding round in Coventry based DigePrint Limited.

DigePrint continues to revolutionise the photonics sector with the launch of its "LumeJet inside" TM product range. The first application is the displacement "LumeJet inside" imaging technology for the high growth digital photographic printing sector. Other applications in the photonics sector will shortly follow.

Babybond

 Rutland-based Babybond, a provider of baby scanning services through its wholly-owned and franchised centres across the UK, has raised over £200,000 in investment from a consortium of investors led by the East Midlands Early Growth Fund, funded by East Midlands Development Agency (emda).

Babybond is the UK’s first ISO Quality Endorsed ultrasound provider, and has been offering parent-to-baby-bonding experiences since 1998. Today the company offers a full range of private antenatal scans including screening. The company was founded by radiographer Jan Steward and her husband Mike Steward, a Bio Electronics engineer. Both Jan and Mike have many years experience in the application of medical ultrasound.

Haemostatix

Catapult Venture Managers Limited has completed an investment into Nottingham based drug company Haemostatix Limited as part of a £.12million funding package from its existing investors.

The investment will enable Hameostatix to progress development of HaemoPlax^TM a synthetic platelet substitute desinged to replace platelets currently obtained from blood donation. Donor platelets, given by transfusion, assist in blood clotting and are currently used to treat cancer and surgical pationts at risk from severe bleeding.

Haemostatix also announced the appointment of a new chief executive, Dr Ben Nichols and a new independent non-executive director, Dr Grahaem Brown.

BWB Consulting

Catapult Venture Managers Limited has backed the management team on the multi-million pound buyout of BWB Consulting Limited with additional funding being provided by Yorkshire Bank. Tenon Corporate Finance advised the management team.

The deal provided an exit for founder and majority shareholder Malcolm Wright and gives control of the business to a four-strong senior management team comprising Steve Wooler (who takes over as managing director), Colin Langford, Tim Loveridge and Greg Nicholson.

The opportunity to become owners of the business was extended to a further eight members of the operational team who invested for a significant minority interest. Yorkshire Bank provided bespoke senior debt and working capital funding alongside Catapult’s equity investment.

BWB, which is based in Nottingham and has offices in Birmingham, Derby, Leeds, Leicester and Manchester, employs around 250 people and provides multi-disciplinary engineering solutions to the property, development and construction industry. 
 

CellAura Technologies Ltd

CellAura Technologies Ltd – a spin out from the University of Nottingham and located in BioCity in Nottingham – is a provider of innovative screening products for the drug discovery industry. 

Catapult has invested up to £550,000 into the company and introduced David George to the business, who has joined the board as an independent Non Executive Director.

The company’s unique technology allows increased speed, reduced cost, greater accuracy and a superior safety profile relative to the existing technology in the field.

CellAura Technologies Ltd was announced as one of nine Midlands based companies to win the Connect Midlands £5M Investment Challenge at a Gala dinner at Kilworth House Hotel. The Challenge is run by Connect Midlands, sponsored by BT Business, and backed by Catapult Venture Managers Ltd, the East Midlands Early Growth Fund, and Advantage Business Angels. The Challenge is also supported by emda (East Midlands Development Agency) and GINEM (Growth Investment Network East Midlands).

Sigmala Ltd

Lincolnshire-based Sigmala Ltd has received additional funding of £92,300 from a possible £130k from Catapult Venture Managers for product development. This brings Catapult’s investment to date into the company to £342,300. Additional funding in this round also includes £70k by E-Synergy.

Sigmala manufactures equipment used to improve the speed and efficiency of converting machinery. These machines convert wide rolls of film, paper and other sheet products into narrower rolls and are widely used in the packaging industry - although domestic products like cling film and kitchen towels are also processed in this way.

The product range developed by Sigmala includes Roll Drive Arms (RDA), Powered Unwind / Rewind Roll Stands (PURRS) and Knifeholders. The excitement about the Knifeholder product is that it is a consumable product rather than the more capital nature of the others. 

Catapult completes six deals in April!

We are celebrating after completing a record six transactions in one month. In the East Midlands we completed new deals into Nottingham based BWB Consulting, Cellaura Technologies, a provider of innovative products to the pharmaceutical industry and Promethean Particles, a formulator and manufacturer of nanoparticles. In the West Midlands we completed an investment into Rugby based call centre software company Silver Lining Solutions. We also completed further investments into existing portfolio companies Haemostatix and Sigmala.

Managing Director of Catapult, Rob Carroll commented "It is fantastic that we are seeing good opportunites from out local partners. This has enabled us to make six investments in one month and achieve a record year in 2007 whilst maintaing the quality of investments".

Karma Insurance

Growth Investment member East Midlands Early Growth Fund has completed a £100k investment into Nottingham based online specialist insurance provider Karma Insurance. The company also received £100k from the Coalfields Enterprise Fund (managed by Enterprise Ventures on behalf of Communities & Local Government) and a further £150,000 from various business angels. GINEM member and angel network Beer & Partners were also involved in the deal.

Set up by Brian Wright from Nottingham, an award winning insurance broker with over 30 years experience in the industry, Karma Insurance will use the money to strengthen the management team, to research and develop new products and to undertake targeted marketing activity

Kyoob Space Ltd.

Growth Investment member Catapult Venture Managers Ltd has completed a £500k investment into Derbyshire based Kyoob Space Ltd.

Kyoob Space Limited designs, manufactures, hires and sells premium end relocatable buildings for the temporary accommodation market. It also sells and hires other more complicated modular buildings. The business has grown rapidly since formation 4 years ago and this round of funding will enable it to continue the sustained growth in its Hire Fleet. GINEM member law firm Geldards LLP also acted on the deal.

FDAS

Testing laboratory Food and Drink Analytical Services (FDAS) has received an investment of £50,000 from East Midlands Early Growth Fund.

Nottingham-based testing laboratory Food and Drink Analytical Services (FDAS), which tests products across a wide range of industries, has received £50,000 in investment from emda’s East Midlands Early Growth Fund.