11th November 2007
CAT.111
MAJOR INVESTMENT IN KINGSWINFORD COMPANY HELPING TO MAKE MUD GREEN
Following on from a record breaking 2007 – completing more than 20 investments – Catapult Venture Managers has continued its success investing in Kingswinford-based toxic soil and waste remediation specialist Envirotreat Ltd.
Investment director Ray Harris led the Catapult investment of £325k from its Birmingham office – part of a £1.7m syndicate funding led by E-Synergy, the London-based sustainable technology fund which provided £1m and Pre-X which invested £350k.
He commented: “We see brownfield land remediation as an important growth area and we are very pleased to invest in a company like Envirotreat which has secured market leadership through its unique technology.”
Catapult, which manages the £20m Advantage Enterprise & Innovation Fund (AEIF), see the environmental sector as a growth area that is currently being driven by government intervention, which is helping to create the conditions to drive the sector forward.
Following the investment, Envirotreat has appointed Duncan Martin, former director of hazardous waste at Veolia Environmental Services, as chief executive to lead its next growth stage.
Envirotreat is an established company that has successfully developed and commercialised proprietary technologies for the treatment and remediation of contaminated land including more than 60 sites that have been cleaned up for both residential and commercial end-use.
The West Midlands headquartered company was recently presented with the Rushlight Pollution Management award in recognition of its superior proprietary E-Clay stabilisation technology which allows the on-site treatment of contaminated land.
The Company plans to use the investment funding for further development, expand the sales and marketing effort, invest in plant for both on-site soil remediation and landfill pre-treatment, expand the technology base and to invest in international licensing opportunities.
Sam Richardson, E-Synergy’s Investment Director of the STF, will join Envirotreat as a director. “Envirotreat has IP protected technology, established revenues and an experienced management team with an excellent track record of completing more than 60 contracts,” he said.
Envirotreat’s new Chief Executive Duncan Martin said: “I am delighted to have taken up this appointment and excited about the challenge of building on the Envirotreat platform and the E-Clay technology. There is a pressing need for treatment technologies as environmental regulations tighten, and with this latest round of funding Envirotreat is in a strong position to build on its impressive reputation in the market.”
Envirotreat’s chairman Richard Saville said, “We are very pleased to have not only completed our refinancing but also to have recruited Duncan Martin to lead the Company forward. I am certain that all our investors will prove to be very supportive shareholders, encouraging Duncan and his team to more than achieve our growth targets.”
Graham Muth, partner in the Birmingham office of Cobbetts LLP, advised Envirotreat’s management on the fundraising. He commented: “Envirotreat is an interesting business with the ambition and capability to become a major player in this market. This investment will be the first step in achieving that goal and we look forward to watching the company’s progress.”
More Information about Envirotreat can be found at www.envirotreat.com
ENDS
Notes for Editors
Catapult Venture Managers Ltd is a leading private equity fund manager with one of the largest investment teams in the Midlands operating from offices in Birmingham and Leicester. With 80m in Funds under its management Catapult seek equity investment opportunities from £200k to £2m for growing businesses. Contact details for Catapult are 0121 616 0180 (Birmingham), 0116 238 8200 (Leicester) or catapult@catapult-vm.co.uk Catapult Venture Managers Ltd is Authorised and Regulated by the Financial Services Authority. The Advantage Enterprise and Innovation Fund (AEIF) is funded by Advantage West Midlands and the European Regional Development Fund.
E-Synergy’s £30m Sustainable Technology Fund specialises in venture capital investments in companies in the Cleantech and Environmental sectors. E-Synergy founder directors founding directors all have many years’ experience and success as CEO’s of commercial technology companies based in UK with international markets. An important aspect of its investment approach is to offer management support in areas such as technology, product development and commercial exploitation in international markets.
E-Synergy is authorised and regulated by the Financial Services Authority.
Cobbetts LLP has offices in the UK’s three key commercial centres – Manchester, Leeds and Birmingham – and launched its London office in September 2007. A top 50 law firm with a projected fee income of in excess of £60 million for 2007-2008, the firm has more than 100 partners working across its eight national core practice areas: corporate, commercial property, banking, commercial, litigation, employment, private client and social housing.
Contacts
Sam Richardson E-Synergy 020 7583 3503
Paul Shrimpton PSPR Ltd 0121 354 7311
Ray Harris Catapult Venture Managers 0121 616 0180
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