SLF makes £2m mezzanine investment in SGS

The capital, which will fund SGS's product development and international expansion strategy, was provided via the Scottish Loan Fund.

SGS is looking to ramp up its existing activities in the UK, mainland Europe and the US.

Scottish Loan Fund has made numerous investments in 2015, including an injection of £1.55m into portfolio company Spaceright Europe; a £1.5m mezzanine loan for data management company Traceall Global; and – most recently – providing acquisition finance to commercial signage company Merson Group.

The fund has now invested £72m since its launch as a £94m vehicle in 2011.

Previous funding
SGS has received backing from institutional investors before. According to unquote" data, SSE Venture Capital and Scottish Enterprise each acquired a 25% stake in the company for £300,000 in September 2008.

Five years later, Scottish Equity Partners and Scottish Enterprise invested £3m in SGS to support its international expansion strategy.

The company also includes the University of Strathclyde among its investors.

Company
Founded in 2008 and headquartered in Glasgow, SGS is a provider of energy systems known as active network management (ANM) products. ANMs are autonomous management and control systems facilitating the incorporation of renewable energy sources into established grids.

People
Richard Elliot is an investment manager at Maven. Maggie McGinlay is director of energy and clean technologies at Scottish Enterprise. Gerry Docherty is chief executive at SGS.

Advisers
Equity – Dempster Solutions (Financial due diligence); BTO (Legal); Vista Insurance (Insurance due diligence); Argyll Fenton (Management due diligence).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Maven Capital Partners