Accutronics Limited
Website: www.accutronics.co.uk
Location: Staffordshire
Date of first investment: September 2009
Amount invested to date: £300,000
Catapult contact: Ed Wass
Accutronics is a leading independent developer and manufacturer of rechargeable batteries for professional applications based in the West Midlands. It supplies the very best in smart battery technology to OEMs worldwide in a range of markets including Military, Defence & Security, Medical & Healthcare, Industrial Electronic & Back-up Systems and Portable Electronic Equipment. Catapult backed a management-buy-out in September 2009 in a joint deal with Orbis Partners LLP.
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Activ8 Intelligence
Website: www.a8i.co.uk
Location: Nottinghamshire
Date of first investment: March 2007
Amount invested to date: £660,000
Catapult contact: Graham Mold
Established in 2005, activ8 intelligence have pioneered a range of predictive technology solutions to help eradicate the all too familiar risks from human capital processes.
By enabling progressive organisations to transform the effectiveness of their resourcing activities, activ8 have quickly developed an impressive broad client base including Turning Point, Royal Bank of Scotland Group, Legal and General, Axa, Logica, G4S and BSkyB. With strong institutional backed investment and award winning technology, activ8 intelligence are set to rapidly expand and transform the way organisations manage their human capital.
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Anaxsys Technology Limited
Website: www.anaxsys.co.uk
Location: Keele
Date of first investment: October 2007
Amount invested to date: £500,000
Catapult contact: Duncan Cameron
Anaxsys Technology has developed an innovative diagnostic device to enable the rapid and accurate diagnosis of asthma, including within young children and the elderly which has not been possible to date. The device has also been designed to monitor a patients ongoing asthma status, with a view to facilitating better control of the disease through the use of more accurate drug dosages.
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Biofortuna Limited
Website: www.biofortuna.com
Location: Merseyside
Date of first investment: May 2010
Amount invested to date: £500,000
Catapult contact: Ben Bolt
Biofortuna has developed genotyping test kits for use in the organ transplantation field. By assessing certain key DNA attributes of both donor and recipient these products help to assess the probability of organ rejection and thus improve success rates. Biofortuna are developing a number of other genotyping and antibody screening products for use in organ transplantation, blood banking and pharmacogenomics. David Whitcombe, a founder director of DxS, has joined the board.
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Blackstar Amplification
Website: www.blackstaramps.co.uk
Location: Northamptonshire
Date of first investment: May 2007
Amount invested to date: £185,000
Catapult contact: Jonathan Earl
Blackstar Amplification designs and sources manufacture of amplifiers and effect pedals for the electric guitar equipment market. The business was formed 3 years ago by the former senior management team of the new product department of Marshall amplifiers. The team have now fully developed their initial amplifier and effects pedal range, with global rollout of the products well established. Blackstar have distribution agreements for the supply of their products to major global markets including the USA, Japan, France and Germany. Non Executive Directors on the Board include music entrepreneur Phil McCauley.
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Brake Testing International
Website: www.btiltd.com
Location: Leicestershire
Date of first investment: November 2002
Amount invested to date: £300,000
Catapult contact: Duncan Cameron
Brake Testing International provides a full range of dynamometer and related test services to the worldwide braking and friction industry in the areas of Product Development, Type Approval, Self Certification, Conformity of Production, Product Installation and Marketing Data Generation for both passenger cars and commercial vehicles. Customers include Toyota and Bentley.
BWB Regeneration Limited
Website: www.bwbconsulting.com
Location: Midlands / Leeds
Date of first investment: April 2008
Amount invested to date: £1,000,000
Catapult contact: Ben Bolt
BWB are a leading UK integrated engineering and enviornmental consultancy that delivers multi-disciplinary engineering solutions to the property, development and construction industry from offices across the Midlands and the North of England. Catapult supported a Management buy-out led by Steve Wooler alongside acquisition finance provided by Yorkshire Bank. Nick Townsend, formerly Board director at Wilson Bowden, was introduced to the Board of BWB by Catapult.
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Cellaura Technologies Limited
Website: www.cellaura.com
Location: Nottinghamshire
Date of first investment: April 2008
Amount invested to date: £470,000
Catapult contact: Jonathan Earl
CellAura is a spin out company from the University of Nottingham, combining world-renowned expertise in the fields of synthetic chemistry and molecular pharmacology to produce high quality fluorescent G-protein coupled receptor ligands for use in molecular pharmacology and imaging at the single cell level.
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Comply-Serve Limited
Website: www.complyserve.com
Location: West Midland
s
Date of first investment: December 2008
Amount invested to date: £350,000
Catapult contact: Graham Mold
Comply-Serve is a ‘software as a service’ business delivering a unique web-based compliance system to the rail infrastructure sector. The software is already used on a number of high profile projects including the East London Line and CrossRail, as well as a number of other projects.
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Critical Pharmaceuticals
Website: www.criticalpharmaceuticals.com
Location: Nottinghamshire
Date of first investment: December 2004
Amount invested to date: £660,000
Catapult contact: Jonathan Earl
Critical Pharmaceuticals is a drug delivery company that creates high value added therapeutics by applying its breakthrough, and proprietary, technology to transform the delivery of challenging molecules. The company’s focus is on the development of controlled release products of approved biologics where current technologies cannot solve the inherent problems with these drugs. For biologics such as human growth hormone, erythropoietin (EPO) and beta-interferon, the current technologies often damage the biologic and/or leave potentially toxic solvent residues in the final product. Critical Pharmaceuticals solves these problems with a simple, one-step, patented formulation process. As a result, a significant improvement in yields can be achieved, presenting a significant opportunity for pharmaceutical companies to reduce costs of manufacturing and wastage in high cost or problematic drugs. The Board of the company includes Professor Steve Howdle of Nottingham University and Lisbeth Illum, formerly CEO of DanBioSist.
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Cyclops
Website: www.cyclops-uk.com
Location: Northamptonshire
Date of first investment: August 2004
Amount invested to date: £500,000
Catapult contact: Duncan Cameron
Cyclops has developed hardware and software systems for speed camera locations based on IP acquired from TrafficMaster plc who developed the original intellectual property and product. Cyclops provide speed camera data to Garmin, amongst others, who utilise this within portable satellite navigation systems. Cyclops has Europe’s most complete and accurate safety camera location database.
FDTEK Holdings Limited
Website: www.fdtek.co.uk
Location: Derbyshire
Date of first investment: September 2007
Amount invested to date:£330,000
Catapult contact: Duncan Cameron
FDTEK operates a data network for the management and communication of commercial vehicle inspection and maintenance records, providing data sharing across all parts of the supply chain. The company plans to become the UK standard commercial vehicle compliance system delivering fleet operator compliance and better customer service.
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Food and Drink Analytical Services Limited
Website: www.fdas.org
Location: Nottinghamshire
Date of first investment: November 2004
Amount invested to date: £350,000
Catapult contact: Jonathan Earl
Food and Drug Analytical Services Limited (FDAS) provides analytical services for the food and pharmaceutical sectors from its state of the art facility at Biocity, Nottingham. FDAS are able to offer a complete chemistry and microbiology analytical service to customers on a contract testing basis, offering small and medium manufacturers a cost effective alternative to maintaining their own laboratory facility. Paul Harper, formerly a director of R & D for Johnson and Johnson was introduced as Non-executive Chairman by Catapult.
Haemostatix
Website: www.haemostatix.com
Location: Nottinghamshire
Date of first investment: December 2005
Amount invested to date: £530,000
Catapult contact: Ed Wass
Haemostatix is a spin out company from the University of Leicester, focussed on the development of artificial blood platelets. The company’s lead product ‘Haemoplax’ is aimed at the £3.5bn annual global market for platelet transfusions, by providing a safe substitute for platelet transfusion for the treatment of potentially life threatening bleeding in patients with platelet deficiency. Catapult have invested alongside Spark Ventures and NESTA to fund the clinical development of the lead product, with a view to licensing out prior to phase III clinical trials.
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Intamac
Website: www.intamac.com
Location: Northamptonshire
Date of first investment:
Amount invested to date: £616,000
Catapult contact: Graham Mold
Intamac provides software to enable exploitation of home electronic connections with applications including home security and remote control of home appliances. Intamac’s award winning web based monitoring service provides exciting new ways to monitor and protect people and property. Initial customers have focussed on the security and insurance applications of the software and include BT, IAG Australia and Bell Canada.

Intellitect Water Holdings LimitedWebsite:www.intellitect-water.co.ukLocation: Worcestershire & Dorset
Date of First Investment: December 2009
Amount Invested to Date: £500,000
Catapult contact: Ray Harris
Intellitect Water has developed a range of ground breaking water monitoring devices - the Intellisode TM range - which can measure drinking water quality in network distribution pipes without waste. Utilising the latest third party communication techniques, remote data can be transmitted to anywhere in the world in real time. Catapult committed a £1m investment as part of a £2m round alongside existing investors Credit Suisse and Pemberstone Group.
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Key Technologies plc
Website: www.sts-international.co.uk
Location: West Midlands
Date of first investment: October 2008
Amount invested to date: £850,000
Catapult contact: Rob Carroll
Key Technologies plc is a UK based specialist engineering Group comprising four divisions: Defence; Signals; Switchgear and Motors. The Group is looking to continue the expansion of the Defence and Rail signals side of the business through further acquisitions alongside organic growth of the core businesses. Turnover for the year to June 08 was £18.7m.
Kyoob Space Limited
Website: www.kyoobspace.com
Location: Nottinghamshire
Date of first investment: October 2007Amount invested to date:£500,000
Catapult contact: Duncan Cameron
Kyoob Space Limited designs, manufactures, hires and sells premium end portable cabins for the temporary accommodation market. It also sells and hires other more complicated modular buildings (typically used as temporary to permanent buildings in e.g. schools or hospitals). Kyoob looks for long term contracts of large village complexes with premium end customers. The business is growing rapidly and our funding assisted in accelerating investment in its Hire Fleet.
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L3 Technology Limited
Website: www.l3technology.co.uk
Location: Warwickshire
Date of first investment: January 2008
Amount invested to date: £600,000
Catapult contact: Graham Mold
The development of sophisticated point of care cholesterol measuring equipment offering laboratory accuracy and precision. The company plans to develop its cholesterol measuring medical devices such that widespread screening programmes become feasible. David George, formerly UK CEO of Chiron Diagnostics, was introduced to the Board of L3 Technology by Catapult.
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Michelson Diagnostics Limited
Website: www.md-ltd.co.uk
Location: Lichfield and Kent
Date of first investment: October 2007
Amount invested to date: £500,000
Catapult contact: Jonathan Earl
Michelson Diagnostics Ltd is developing imaging technology for use during cancer diagnosis and treatment. The device uses optical coherence tomography to provide real-time images of sub-surface tissue at near-cellular resolution without tissue removal - an 'optical biopsy'. This will, for the first time, enable surgeons to see the extent of cancer tissue in situ without the need for surgical biopsy thus ensuring that all traces of tumour are removed.
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Monica Healthcare
Website: www.monicahealthcare.com
Location: Nottinghamshire
Date of first investment: May 2005
Amount invested to date: £1,000,000
Catapult contact: Jonathan Earl
A spin out company from the University of Nottingham, Monica Healthcare has developed a technology which can successfully monitor the heart rate of an unborn baby for long periods allowing an improved standard of obstetric care for both mother and baby. The technology, which is wireless, allows the mother to be able to move around as normal, something that is not possible with existing techniques such as Ultrasound which require the mother to be immobile next to a large cumbersome unit in a hospital. Another advantage over existing technology is that the technique is non-invasive. The device has achieved CE marking and is available in European markets through the comnpany’s appointed distributors. Paul Harper, formerly a director of R & D for Johnson and Johnson was introduced as Non-executive Chairman by Catapult.
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Oxford BioTherapeuticsWebsite: www.oxbt.co.ukLocation: Oxfordshire
Date of first investment: January 2007
Amount invested to date: £1,600,000
Catapult contact: Jonathan Earl
Oxford BioTherapeutics (OBT) applies its integrated proteomics platform for the discovery and development of diagnostic and therapeutic products. OBT has the world’s largest database of biomarkers for protein based disease. The company is at the forefront of new developments in personalised medicine, being enabled by the mapping of the human genome. The company has developed a unique integrated platform that combines genomic, proteomic and clinical information to accelerate the discovery and validation of drug targets and biomarkers in human beings. The benefits are improved biomarkers for patient selection, drug response and efficacy monitoring, and the integration of diagnostics into drug development and product launch, thereby facilitating more accurate drug development and providing cost and time savings. OBT works closely with Biosite, Medarex and Amgen, with whom it has collaboration agreements for exploitation of this technology. Non Executive Directors on the Board include Elliott Forster, VP of Development at Pfizer, and Jeff Warren, formerly CEO of Bristol & West plc.
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Probe ScientificWebsite: www.probescientific.comLocation: Bedfordshire and West Midlands
Date of first investment: July 2009
Amount invested to date: £500,000
Catapult contact: Jonathan Earl
Probe Scientific Ltd develops innovative products to solve clinical problems and improve healthcare. The company has developed a product called MicroEye®, a revolutionary device developed to enable continuous blood sampling without removing whole blood. As part of the investment process Catapult introduced Alan Barrell – ex Baxter Healthcare – as a Non-Executive Director; and David George as Chairman.
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Promethean Particles Limited Website: www.prometheanparticles.co.uk
Location: Nottinghamshire
Date of first investment: April 2008
Amount invested to date: Undisclosed
Catapult contact: Graham Mold
Promethean Particles is a spin-out company from the University of Nottingham. They have developed a unique reactor technology to allow unprecedented product control and flexibility in inorganic nanoparticle dispersion manufacture.
Sight and Sound LtdWebsite: www.SightandSound.co.ukLocation: Northampton
Date of first investment: August 2008
Amount invested to date: £1,700,000
Catapult contact: Duncan Cameron
One of the UK’s leading suppliers of IT products and services for people who are blind, visually impaired or have learning difficulties. Suppliers to customers in local government, corporate, education and consumer sectors a product portfolio which includes electronic reading software, speech output systems, screen magnification displays and electronic Braille displays. Strong growth is anticipated from an exclusive new product in the form of a mobile phone with integrated text to speech and screen magnification features which will offer flexibility and mobility to the blind and visually impaired.
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Silver Lining Solutions LimitedWebsite: www.silverlining.uk.netLocation: Rugby
Date of first investment: April 22 2008
Amount invested to date: £250,000
Catapult contact: Ed Wass
Silver Lining Solutions' software product, 'Skills Manager', assesses, analyses and helps to improves the skills of staff working in call centres and offices. The software helps cut-back on the industry’s annual staff churn of over 30% which is estimated to cost the sector an estimated £2.3 billion in training and recruitment costs, not to mention the resulting negative impact on efficiency. The company has achieved sales with an impressive list of blue chip customers and will use the funding to strengthen its sales and marketing team as well as further product development.
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Stribbons Limited Website: www.stribbons.co.uk
Location: Northamptonshire
Date of first investment: April 2004
Amount invested to date: £250,000
Catapult contact: Jonathan Earl
Stribbons is a manufacturer and distributor of decorative packaging, accessories and trimmings for luxury gifts. The company offers the fast turnaround of tailor made product in a highly seasonal environment at competitive prices and, if required, high volumes. An example of a recent product is bags for Cadbury’s high end Easter eggs. Sectors sold to include stationery, gourmet food, cosmetics, packaging and fashion with customers of all sizes including many large blue chip organisations.
Synchro Limited Website: www.synchroltd.com
Location: Coventry
Date of first investment: August 2007
Amount invested to date: £1,198,000
Catapult contact: Graham Mold
Synchro provides software solutions to the construction industry that uniquely enable project managers to literally visualise their construction site in 3D at any point during the project in conjunction with the plan and schedule. The software allows team members to simulate different construction scenarios and to immediately visualise the impact in virtual reality, thereby optimizing the delivery plan. The benefits of synchronising design and planning are that it increases industrial performance, decreases risk, shortens decision making and delivery times and reduces costs. The business has sold its solutions to household-name construction firms and has leading industry figures as investors, Chairman and chief executive.
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Systems Integration (Trading) Limited Website: www.siltd.co.uk
Location: Staffordshire
Date of first investment: March 2009
Amount invested to date: £250,000
Catapult contact: Graham Mold
SI provides a full suite of software products principally for the meat processing industry, increasing yields (and therefore profitability) as well as traceability. SI is an established business with c.40 customers, mostly in the UK and N America.
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Turbine Efficiency Ltd Website: www.turbine-efficiency.com
Location: Lincolnshire
Date of first investment: December 2003
Amount invested to date: £500,000
Catapult contact: Graham Mold
Turbine Efficiency provides maintenance and service contracts supporting sub 10MW combined heat and power gas turbines (typically ex Alstom turbines). These Turbines are usually installed in large factories or other similar installations such as Oil Rigs and Hospitals. Typically they provide a monthly maintenance contract and a full overhaul every 3 years currently. The company also undertakes efficiency monitoring work. Turbine Efficiency has an overseas operation in Argentina and sells to customers throughout the world. Stephen Saltaire, formerly of 3i plc, was introduced to the Board of the company by Catapult.
UK Gear LimitedWebsite:www.ukgear.comLocation: Coventry
Date of First Investment: December 2009
Amount Invested to date: £1,125,000
Catapult Contact: Richard Bucknell
Catapult Venture Managers completed an investment of £1.125m into UK Gear, who have developed a range of high performance running shoes. UK Gear is increasingly recognized as a leading manufacturer of high performance footwear and apparel and has built up a powerful reputation as a pioneer of innovative and technologically advanced fitness products. It is the only running shoe in the world to have
earned the right to carry the British Army's famous crossed swords insignia. The company supplies trainers to UK Army recruits, as well as the US Army and US Coastguard. As part of the transaction Mike Tomkins, formerly CEO of New Balance and M and M Direct, has joined the board as Chairman.
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Warwick Effect Polymers LimitedWebsite: www.warwickeffectpolymers.co.ukLocation: Warwickshire
Date of first investment: March 2009
Amount invested to date: £600,000
Catapult contact: Graham Mold
WEP exploits Living Radical Polymerisation to produce novel polymers under commercially viable conditions for the biosciences, materials and specialty chemicals industries. The WEP technology is a platform technology which allows the controlled production of a variety of polymers with substantially more complex architectures and a wider range of properties than is possible with conventional polymerisation methods.
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Whelan Refining LtdWebsite: www.whelanrefining.co.ukLocation: Staffordshire
Date of first investment: May 2006
Amount invested to date: £250,000
Catapult contact: Ben Bolt
Whelan Refining recycles used fuel oils for blending into new product. This process reduces the levels of new oil required, provides cost benefits for customers and ultimately reduces carbon emissions. The Board of the company includes Anthony Ross from Bridges Ventures, with whom Catapult have co-invested.
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ZinwaveWebsite: www.zinwave.com
Location: Cambridgeshire
Date of first investment: February 2010
Amount invested to date: Undisclosed
Catapult contact: Duncan Cameron
Zinwave provides in-building wireless active wideband systems. Using its unique wideband technology, Zinwave provides a single system solution for all wireless services, allowing guaranteed unified indoor coverage at lower capital expenditure and running costs. The company has generated impressive sales traction, with a reference base of prestigious sites and a number of newly secured sales channels. Catapult joins a strong existing investment syndicate including Scottish Equity Partners, Atlas Venture and SEB Venture Capital. The recent funding round is to support manufacturing expansion and further US and Asian sales growth. Geoff Finch, formerly Board director at BT, was introduced to the Board of Zinwave by Catapult.
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Zysis Limited Website: www.zysis.com
Location: Nottinghamshire
Date of first investment: September 2007
Amount invested to date: £330,000
Catapult contact: Jonathan Earl
Zysis is a drug re-formulation company working on products offering significant advantages over existing treatments in the field of the Central Nervous System. Drug makers are increasingly turning to re-formulated products to prolong the lifecycles of their top sellers and to protect against the impact of generics. The funding is to take the company’s products through Phase 1 clinical trials and subsequent licensing. Directors of Zysis include Russell Pendleton, Dr Ian Wilding and Peter Cozens.
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Atlantic Link
Website: www.atlantic-link.co.uk
Location: Nottingham
Date of Catapult’s first investment: September 2008
Amount invested : £500,000
Exit Date: 18th February 2010
IRR: 42%
For more information contact: Jonathan Earl
Catapult Venture Managers are pleased to announce the acquisition of Atlantic Link by Kaplan IT Learning. Atlantic Link, based at Nottingham Business Park, was established by a group of entrepreneurs seven years ago and is now the world’s leading provider of collaborative rapid e-learning authoring software. This software enables users to design and deliver professional on-line training to thousands of employees. The company’s UK clients include BT, Waitrose, Daimler Chrysler as well as financial institutions HSBC, Santander and Barclays.
President of Kaplan IT Learning, Brian Sholly, said: “We are very excited to join forces with Atlantic Link. This rare opportunity will allow Kaplan to expand our market presence and offer a much large selection of products globally.”
Catapult supported Atlantic link with a £500k investment in 2008. Investment Director Jon Earl commented “Catapult invested in Atlantic Link as it was a business which we recognised had not only the ideas but the passion to deliver revolutionary products into a market used to seeing innovation, and we are delighted to see this realised through this successful sale. This is the first exit from our Catapult Growth Fund, launched in 2007, and delivers excellent returns with a minimum IRR of 42%.”
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R5 Pharmaceuticals
Website: www.r5pharma.com
CATAPULT ACHIEVES ITS SECOND SUCCESSFUL EXIT IN 2010, WITH THE SALE OF R5 PHARMACEUTICALS TO AESCIA PHARMACEUTICALS
Following its successful exit from Atlantic Link in March, Catapult is delighted to announce its second successful divestment of the year. Catapult made its initial investment in R5 Pharmaceuticals in December 2006 during the company’s start up phase, recognising the market opportunity and the ability of the management team to deliver on its strategy. Since this time R5, based in BioCity in Nottingham, has grown to become a leading developer and manufacturer of medicines and materials for phase 1 and phase 2 clinical trials.
Jonathan Earl, who led the transaction for Catapult, comments: “We are delighted to have been able to contribute to the success of R5, and to ultimately deliver an excellent return on our investment with a minimum IRR of 48%. The progression of the business to this successful sale is a reflection of the competency and dedication of the management team, and I am sure that this success will continue under the ownership of Aesica Pharmaceuticals.”
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