Platform firm raises £5m for growth

Edinburgh-headquartered enterprise training operations platform Administrate raised £5m from investors to support its growth plans.

Existing investors Archangels, Mercia and the Scottish Investment Bank contributed alongside new backer Hambro Perks, which led on the deal. Administrate, recently recognised as one of the fastest-growing tech companies in the UK, works with some of the biggest brands in the world to manage their complex global training operations. 

Staff engineer MBO

Lanark engineering firm Martin Precision moved to employee ownership after 30 years in operation. The company, founded by William Martin, now employs 49 staff in the manufacturing and supplying of components for the aerospace, defence and energy sectors.

Advisers included accountants Consilium, lawyers Bellwether Green and employee ownership specialist Carole Leslie. 

STV snaps up TV producer

Scottish broadcaster STV bought production network business Greenbird Media in a £24m deal.

STV said Greenbird’s portfolio – which includes majority stakes in companies Crackit Productions and Tuesday’s Child and minority positions in 13 other producers – brings immediate scale and earnings enhancement but also the potential for future growth. The acquisition was funded through existing bank facilities.

Nevis Capital buys into measurement specialist

Industrial services investor Nevis Capital acquired a significant stake in Glasgow-based JWF Process Solutions which works with world-leading instrumentation suppliers. Kenneth Fairbairn remains as MD of JWF with a significant shareholding.

This deal builds on the acquisition of Stream Measurement that JWF completed three years ago to expand the footprint of the group across the UK.

Cell analysis firm attracts £4m scale-up funding

Cytomos, an Edinburgh-based life science company, secured £4m to scale-up market testing of its technology platform.

The investment round was led by existing investors Archangels with participation from Old College Capital, Scottish Enterprise and new investor British Business Bank. 

An Edinburgh-based team at Burges Salmon advised on the deal. The new investment will enable Cytomos to significantly advance its technology and expand the team. The company is targeting commercialisation of its platforms in 2024.