Deals Done
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 HaemoPlaxTM 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.
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.
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.