Finance Yorkshire exits S3 ID

The firm has made a return of £3.4m, having originally provided an equity ticket of £1.6m to the company in January 2011. The initial investment in S3 ID was the first for Finance Yorkshire's Equity Fund, and the trade sale to CSE also marks the first exit for the vehicle.

CSE, a Singapore Stock Exchange-listed technology company, acquired a 75% stake in S3 ID for £7.65m.

Yorkshire Finance, a subsidiary of Braveheart Investment Group, invests in companies based or moving to the Yorkshire and North Lincolnshire regions. The firm typically provides anywhere from £15,000-2m in seed capital, equity or debt.

Company
S3 ID was founded in 2008 and is headquartered in Rotherham, with additional offices in Norway and Singapore. The company employs 35 staff and recorded turnover of £4.2m for 2012.

S3 ID designs and programs hardware and software safety systems for the onshore and offshore oil and gas sectors. The company's clients include Shell, BP, Eni and Statoil.

People
Derek Gennard is the CEO of S3 ID. Andrew Burton is an investment director at Finance Yorkshire, while investment director Craig Hopwood led the original deal for the firm.

Advisers
Vendor – Eversheds, Antony Walsh (Corporate finance).
Acquirer – Hill Dickinson, Paul King (Legal).

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• Topics
• Exits
• Technology
• UK / Ireland
• United Kingdom
• Trade sale