Green for go for Catapult
Who?
Birmingham’s Catapult Venture Managers
Did what?
Has completed a £900,000 investment into Renewable Technical Services, a young company operating in the wind energy sector.
What does this mean?
RTS, headquartered in Kettering, is an engineering solutions provider, delivering installation, inspection and maintenance services to wind turbine manufacturers, wind farm developers and power generators. The investment will be used to accelerate its recent growth, development of technology-enabled inspection and repair techniques, and gearing up the company’s internal resources. This is Catapult’s seventh transaction of 2010. The transaction was led for Catapult by Richard Bucknell and Ben Bolt.
Who advised?
Catapult was supported on the transaction by Richard Medd of Browne Jacobson in Nottingham (legals) and Georgina Clark of Friend in Birmingham (financial DD). RTS was advised by Cobbetts (legals) and Corporate Solutions in Leeds.
Insider comment:
Green is go for yet another deal where eco-friendly products and services are attracting investment. RTS managing director Chris Palmer said the company is “in a position to exploit major new opportunities and establish itself as a genuine market leader in this exciting, developing sector”.
This should whet the appetites of any potential investors, given the importance of renewable energy to the UK and beyond. Green technology is not only somewhere the UK has the capacity to excel, it’s somewhere that niche skills can be developed that could quickly be in demand.
