Cellfacts Instruments Measures Investment Success

Blue Sky Corporate Finance Ltd has taken the lead role in arranging an equity investment round of at least £230,000 into Coventry based Cellfacts Instruments Ltd.

Cellfacts manufactures, supplies and maintains advanced precision analysis equipment used in various markets to measure and analyse the microbial content of fluids. The technology was developed in the West Midlands and almost all of the Cellfacts units manufactured to date have been exported. The investment proceeds will be used to expand the sales/marketing team and to support the working capital needs of this fast growing business.

The investment has been made by a small number of high net-worth individuals alongside the Early Advantage Fund, an equity investment fund established by AWM and managed by Midven Ltd based in the centre of Birmingham. Andrew Waterfall, a local entrepreneur, business angel investor and the former CEO of Improvision Ltd (an International Life Sciences business which was acquired by PerkinElmer Inc in 2007) will join the board as a non-executive director and will assume the role of Chairman.

Dr Crawford Dow, Managing Director, Cellfacts Instruments Ltd said “The deal secures the immediate growth prospects for the company and we are delighted to welcome the knowledge and experience that Andrew Waterfall will bring to the board. The investment process was handled smoothly by Paul Heaven at Blue Sky and we are delighted that he will continue to serve the board in a part-time FD capacity.”

Duncan Kerr, Investment Director, Midven Ltd commented “This is another exciting investment for the Early Advantage Fund having secured the European Regional Development fund as co-investors. We are looking forward to working with Dr Crawford Dow and Andrew Waterfall to help to take this company to the next stage. The Company has some loyal customers and an impressive pipeline of prospective orders. We were pleased that a number of the existing investors, as well as some new ones, contributed to the funding round. The considerable corporate finance experience of Blue Sky team helped to coordinate the various interest groups and expedite the deal.”

Paul Heaven, Managing Director, Blue Sky Corporate Finance Ltd added “This is a very promising local company that manufactures complex and sophisticated equipment and it exports most of what it makes. This has to be exactly the type of company that will help the local economy to recover and prosper. It was, as always, a pleasure to work with the truly professional team at Midven and the whole process was made easier by the dedicated management team at Cellfacts, the support and commitment of the existing investors and the enthusiasm of the new private investors. It was a privilege to work on the deal and I am looking forward to working with the Cellfacts management team on a part-time FD basis going forward.”