Kernel invests in Cirdan
Kernel Capital has invested in Cirdan Imaging, a Northern Ireland-based medical diagnostics company.
While the size of the investment was not disclosed, Kernel described the investment as "significant".
The firm invested via the Bank of Ireland Kernel Capital Growth Fund, a £24m vehicle that invests in SMEs based in Northern Ireland.
Cirdan has been backed in the past by regional business development agency Invest Northern Ireland, which invested in the company via the Co-Fund NI and Qubis vehicles, the latter of which is the investment arm of Queen's University Belfast.
Company
Founded in 2010, Cirdan is headquartered in Lisburn, with additional offices in Canada and Australia.
The company has developed camera and image-processing technology for imaging diagnostics, using x-ray, near-infrared and visible-light wavelengths.
It is designed for use by large hospitals, laboratories and clinics.
People
CEO Hugh Cormican and CTO Stephen Dunniece are the founders of Cirdan. Kernel senior investment executive Allen Martin has joined the company's board of directors.
More on UK / Ireland
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater