CT Investment Partners et al. back Cable-Sense

CT contributed £650,000 to the funding alongside MTI's £150,000. The company aims to expand overseas and triple its turnover by 2014. It will expand its pool of staff in sales, marketing and product development.

Over the past few years the business worked closely with the School of Electronic and Electrical Engineering at the University of Manchester to bring its products to market. The company started trading in 2008 and its current enterprise value stands at less than £10m.

The North West Fund is financed jointly by the European Investment Bank and the European Regional Development Fund.

Company
Cable-Sense was founded by technical director John Kelly and professor Tony Peyton in Lancaster in 2004. The company has developed an infrastructure management system that aims to allow organisations to improve the management of their cable networks.

People
Michael Bakewell, an investment manager at CT, will join the board of Cable-Sense with immediate effect. Mark Rahn worked on the deal for MTI.

 

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