BGF injects £3.85m into M Squared Lasers

BGF usually takes stakes of 10-40%.

BGF's equity investment will fund M Squared Lasers' R&D programme – with a particular focus on the company's Firefly product – as well as its sales and marketing efforts.

The GP expects M Squared's revenues to double as a result of the investment.

Company
M Squared Lasers designs and manufactures lasers and photonic optical instruments.

The company was founded in Glasgow in 2005 by Dr Graeme Malcolm and Dr Gareth Maker.

It currently employs 30 people but is planning to hire an extra 20 staff next year and another 20 the year after.

M Squared's laser-based systems are used to remotely detect and image gas leaks, explosives, chemicals or pollutants.

People
BGF business director Mark Bryant will join the board of M Squared Lasers as a non-executive director.

Advisers
Equity – HBJ Gateley (Legal); Baker Tilly (Corporate finance)
Company – Deloitte (Financial); Johnston Carmichael (Corporate finance); MBM Commercial (Legal)

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• Topics
• Expansion
• Technology
• UK / Ireland
• BGF (Business Growth Fund)
• United Kingdom
• Baker Tilly
• Deloitte