Singapore-listed CSE Global has acquired a 75 per cent stake in Rotherham-based S3 ID allowing Finance Yorkshire to realise its investment.
The sale represents the first exit for Finance Yorkshire which has made an aggregate return of £3.4m from an original investment of £1.6m. The deal values S3 ID at £10m.
S3 ID offers a range of patented services which improve personnel safety and security in the oil, gas, petrochemical and energy sectors.
It secured the first investment from Finance Yorkshire’s Equity Linked Fund in January 2011, which took a 25 per cent stake.
Derek Gennard, chief executive of S3 ID, said: "The Finance Yorkshire team worked hard with us in the early days and their advice and investment was a key factor in our success. We have created nearly 30 permanent jobs in the South Yorkshire region as a direct result."
Alex McWhirter, chief executive of Finance Yorkshire, added: "We are delighted that S3 ID is the first Equity Linked Fund’s realisation. The company has grown significantly since our investment in 2011, to a point where it needed a significant injection of funding to take it on to the next level.
"The deal represents a good return on our investment and showcases how the Finance Yorkshire Equity Linked Fund can provide the financial support which allows a good local company to become a global success."
Eversheds in Nottingham, led by M&A partner Antony Walsh, advised on the sale of the company. Hill Dickinson in Sheffield, led by partner Paul King, advised CSE.