BGF invests £6.3m in BSS
The Business Growth Fund (BGF) has invested £6.3m in satellite and telecommunications company Broadband Satellite Services (BSS).
The fresh capital will be used to support the company's growth strategy, which will include seeking out acquisition and investment opportunities in the mobile satellite services market.
Company
Established in 2012 through the acquisition and subsequent merger of AND Group and Satcom Global, BSS distributes satellite communications services in remote locations where mainstream terrestrial networks are not available.
The Newcastle-headquartered company supplies services to the military, maritime, aeronautical and offshore sectors, as well as to media agencies globally. BSS is also a distribution partner for satellite network operators Inmarsat, Iridium and Thuraya.
Furthermore, BSS provides additional services for customers including installation and technical support.
The company has offices in Singapore, Bangkok, Tokyo, Phoenix, Brisbane, Perth, Athens and Moscow. It employs 200 people.
People
Matt Widdall and Neil Inskip led the deal for BGF. Ian Robinson is CEO of BSS.
Advisers
Company – BHP Law (Legal); Haines Watts (Financial due diligence).
Equity – Watson Burton (Legal); Dow Schofield Watts (Financial due diligence).
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