Sigma Technology Venture Fund, a fund managed by Sigma Technology Management Limited (“Sigma”), is pleased to announce that it has led a total investment round in Pentland Systems Limited (“Pentland”) of £825,000. STVF invested £750,000 as lead investor in a syndicate that includes West Lothian Ventures and the Scottish Co-investment Fund. Graham Barnet, a director of Sigma, has joined the Board as a non-executive director.
Pentland, based in Livingston, was formed as an MBO of Burr Brown Systems Division in 1990 and focuses on the design, manufacture and marketing of high performance electronic subsystems for signal acquisition and reconstruction that are currently used in radar, sonar and signal intelligence systems for the military and aerospace markets. Recent customers include Lockheed Martin, Raytheon, Boeing and Alenia Marconi.
The funding will be used to support continued product development and for the further expansion of the company’s commercial activities. Graham Barnet, Joint Managing Director of Sigma said;
“Pentland Systems is Sigma’s fifth investment in Scotland this year and is an excellent example of a strong Scottish company that has already achieved a significant level of sales both in the UK and abroad. I look forward to working with the company as it introduces new products and further expands its international sales activity.”