SIGMA CAPITAL GROUP PLC (“Sigma”)
Announces Sale of Two Portfolio Companies
Sigma, the specialist asset manager, whose activities span venture capital fund management, university IP commercialisation and property investment, is pleased to announce the sale of two portfolio companies, Trisent Communcations Limited (“Trisent”) and Pentland Systems Limited (“Pentland”).
Trisent provides mobile network operators with mobile phone location technology which does not rely on Global Positioning System. Trisent is an investee comany of Sigma Innovation Fund (East of Scotland). Established by Sigma in November 2003, this venture capital fund invests in Scottish companies from funds provided by Bank of Scotland, the European Regional Development Fund, Scottish Enterprise Fife as well as Sigma itself. The entire share capital of Trisent has been sold to Artilium plc, the AIM-quoted mobile telecommunications business, for £1.7 million in a combination of cash and shares at £1 each.
Gordon Povey, Managing Director of Trisent said: “The original investment by Sigma in 2005 allowed us to spin-out Trisent and accelerate the development of our Tri-Cell technology. We have been delighted with our productive and supportive relationship with Sigma and now look forward to the next stage of our development with Artilium.”
Pentland designs and produces high performance signal acquisition products for radar, communications and signal intelligence applications. Pentland is an investee company of Sigma Technology Venture Fund. Established by Sigma in April 2002, the Sigma Technology Venture Fund invests in technology companies throughout the UK, from funds provided by Bank of Scotland, Scottish Widows Investment Partnership as well as Sigma. The business and assets of Pentland have been sold to two subsidiaries of Curtiss-Wright Corporation plc, the global components manufacturer, which is listed on the New York Stock Exchange, at a sale price of $2.3 million in cash.
Steve Dunn, Managing Director of Pentland said: “We were delighted to work with Sigma and their support was critical in the run up to this acquisition.”
Enquiries
Sigma Capital Group plc
Mark Hogarth, Investment Director
Graham Barnet, Chief Executive
T: 0131 220 9444
Biddicks
Katie Tzouliadis
T: 020 7448 1000
Arbuthnot Securities
Tom Griffiths/ Neil Kirton
T: 020 7012 2000
About Sigma Capital Group plc
Founded in 1997 and based in Edinburgh, Sigma Capital Group plc is an AIM-quoted, specialist asset management and advisory group. Sigma focuses on specialist fund management, commercialisation of University IP and property investment.
Sigma now manages (and is an investor) in four funds, the Sigma Technology Venture Fund, the Sigma Innovation Fund (East of Scotland), the Sigma Sustainable Energies Fund and the Sigma Sustainable Energy Fund II.
Sigma Innovation Fund (East of Scotland)
The Sigma Innovation Fund invests in Scottish companies from funds provided by Bank of Scotland, the European Regional Development Fund, Scottish Enterprise Fife and Sigma.
The £6 million fund was established November 2003. It invests up to £300,000 per investment, in high growth, innovative Small to Medium-Sized Enterprises (SMEs) with principle place of business in the East of Scotland and is able to provide a mixture of debt and equity packages. The companies will generally be at early or development stage, and should also be able to demonstrate a capacity for high growth and job creation.
Sigma Technology Venture Fund
The Sigma Technology Venture Fund invests in technology companies throughout the UK, from funds provided by Bank of Scotland, Scottish Widows Investment Partnership and Sigma.
The £17 million fund was established in April 2002. It invests between £300,000 and £2.5 million per investment, in high-growth, development stage companies and is able to provide a mixture of debt and equity packages. This fund is now closed to new investments.