News: S3-ID Group secures £1.1m from Finance Yorkshire
S3-ID in Rotherham, the UK's market-leading provider of innovative location awareness solutions, has secured £1.1m from Finance Yorkshire's Equity Fund.
The Eastwood firm offers a range of unique and patented solutions which improve personnel safety and security in the oil, gas, petrochemical and energy sectors.
This major investment will enable S3-ID to maintain the controlled expansion it has experienced over the last three years which has resulted in the development of several new innovative products, along with the acquisition of further patents gained in new strategic sales regions around the globe.
S3-ID, which also has regional offices in Norway and Singapore has developed a range of specialist hardware and software products that provide real-time personnel location awareness, mustering and access control. They are used in working environments where a major incident would be catastrophic such as oil, gas and petrochemical plants.
Gro Kielland, chairman of S3-ID, said: "We are extremely positive about the new opportunities this investment will create. It further strengthens our operations and will allow more investment in product and business development, demonstrating to our clients our sound business standing and continuing commitment to helping our customers in the oil, gas, petrochemical and energy sectors meet the highest safety standards available for their personnel.
"Going forward, our first priority will be to ensure our customers continue to receive the same high level of service and support they expect and deserve as we drive the business forward."
Craig Hopwood, who led this investment on behalf of the Fund, added: "S3-ID is a pretty unique business that operates within a high-tech, growth sector. This made the company an extremely attractive investment.
"We believe that S3-ID is well placed to continue its expansion in the oil, gas and energy industries and we see this as a long-term strategic investment in our region for Finance Yorkshire. We are looking forward to working with Derek Gennard, Eivind Fredriksen and the rest of the management team to help achieve their growth plans."
A strong professional team was put in place to secure the investment deal. The principal legal advisors in this process were Stephen Kitts of Eversheds and Michelle Kershaw of Pinsent Masons. Tax advice was provided by Steven Watson of Allots and banking support by Julia Drever of NatWest.
S3-ID website
Finance Yorkshire website
Images: Finance Yorkshire
The Eastwood firm offers a range of unique and patented solutions which improve personnel safety and security in the oil, gas, petrochemical and energy sectors.
This major investment will enable S3-ID to maintain the controlled expansion it has experienced over the last three years which has resulted in the development of several new innovative products, along with the acquisition of further patents gained in new strategic sales regions around the globe.
S3-ID, which also has regional offices in Norway and Singapore has developed a range of specialist hardware and software products that provide real-time personnel location awareness, mustering and access control. They are used in working environments where a major incident would be catastrophic such as oil, gas and petrochemical plants.
Gro Kielland, chairman of S3-ID, said: "We are extremely positive about the new opportunities this investment will create. It further strengthens our operations and will allow more investment in product and business development, demonstrating to our clients our sound business standing and continuing commitment to helping our customers in the oil, gas, petrochemical and energy sectors meet the highest safety standards available for their personnel.
"Going forward, our first priority will be to ensure our customers continue to receive the same high level of service and support they expect and deserve as we drive the business forward."
Craig Hopwood, who led this investment on behalf of the Fund, added: "S3-ID is a pretty unique business that operates within a high-tech, growth sector. This made the company an extremely attractive investment.
"We believe that S3-ID is well placed to continue its expansion in the oil, gas and energy industries and we see this as a long-term strategic investment in our region for Finance Yorkshire. We are looking forward to working with Derek Gennard, Eivind Fredriksen and the rest of the management team to help achieve their growth plans."
A strong professional team was put in place to secure the investment deal. The principal legal advisors in this process were Stephen Kitts of Eversheds and Michelle Kershaw of Pinsent Masons. Tax advice was provided by Steven Watson of Allots and banking support by Julia Drever of NatWest.
S3-ID website
Finance Yorkshire website
Images: Finance Yorkshire
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