TPLD worked with Angus Hay of DC Consulting in preparing a new business plan to take the company forward, and it was DC Consulting that made the introduction to Barwell. The investment of £430k, completed in mid-February, incorporated the conversion of loans and preference shares from existing investors alongside new equity being introduced from Barwell and the Scottish Co-investment Fund. The funding package will enable Piggot and colleagues to embark upon a marketing plan which will see them take the Virtual World product to prospective clients in a ‘road show’ format. TPLD currently sells mainly in the UK, but has prospects in Singapore and Europe; in addition, Barwell is providing contacts which will help the company to enter the USA.
Category: Deals
Cariescan: £750k Raised
Cariescan, the dental technology group formed out of university spinout, IDMOS, has raised £750,000, its second fundraising this year. The Dundee based company said the cash, raised from existing shreholders including Scottish Enterprise, would be used for research and marketing investment.
Chief Executive Graham Lay said Cariescan’s first product, which it claims measures tooth decay more accurately than X-Rays, is now on sale in the UK, while a distribution agreement for Canada is imminent.
Novabiotics: £1.1m of Equity
The DC Consulting team, led by Angus Hay, has successfully assisted NovaBiotics Limited in securing an equity investment of £1.1 million. The investment was made by both existing shareholders in the company and by new sources of funds introduced by DC Consulting, including Discovery Investment Fund, TRIcap and Aurora Private Equity. After the successful completion of the transaction, NovaBiotics announced regulatory and ethics clearance had been obtained to commence clinical trials of its lead product Novexatin.
PowerPhotonic: £405k Raised
Co-ordinated by DC Consulting’s John Craig, PowerPhotonic has recently been awarded a £80,000 RSA award to support a ramp up in production and sales activity. This grant award augments a £325,000 investment into the company led by Archangel Informal Investments and Tri Capital.
J Funerals Limited: SEED Investment
In a transaction co-ordinated by John Craig, J Funerals Limited have successfully completed the SEED investment to launch its products in the funeral market place.
This investment brings together Sandra Thomson, who has worked in the Jute Industry since 1985 (and widely accepted as an expert in this field), and David McKenzie, previous founder and CEO of Commsworld Limited with the primary aim of delivery eco-friendly coffins and associated funereal products to the mainstream market.
CarieScan: £2m Secured
CarieScan secures £2 million for global sales & marketing.CarieScan, based in Dundee, is taking to market a device which uses AC impedance spectroscopy (ACIST) to determine the mineral density of dental substrate, as a means of detecting tooth decay at an earlier stage than usual, and monitoring its progress accurately.
Undisclosed MBO
DC Consulting’s specialist team has spearheaded funding negotiations for the successful MBO of a fast-growing North-East based electrical contracting business, servicing the energy, maritime and commercial sectors. The MBO, which was supported by the Royal Bank of Scotland, sees the MD remain with the business.
Conjunct: £300k Investment Package
DC Consulting has advised datacoms business Conjunct in its latest funding round, which has resulted in Braveheart equity investment of £300,000, plus SMART grant funding. The funding will help the Livingston based company to develop its state of the art Fibre-Lyte technology.
Gigha Halibut: Funding Brought to £2m
Specialist corporate finance house DC Consulting has secured funding of £850,000 for Gigha Halibut II Ltd, bringing to £2 million the total it has successfully raised for Halibut farming projects in Scotland in the last two years. DC Consulting sourced and co-ordinated investment from its pool of private investors to raise the equity required and negotiated the debt funding. This round of funding ensures that production of farmed halibut will increase to over 600 tonnes in the next three years.
Calnex Solutions Ltd secures funding
Dundee-based corporate finance house DC Consulting has attracted a £1 million package of investment for Calnex Solutions Ltd, a pre-revenue business based in Linlithgow which is about to launch a range of products into the telecommunications test instrumentation market. Led by Discovery Investment Fund along with a number of individual investors, the package also includes SPUR support and matched equity funding from Scottish Enterprise’s Scottish Co-Investment Fund.