Charles Russell Speechlys advises Polar Technology on investment by BGF
Charles Russell Speechlys has advised Polar Technology Management Group on a £10m investment by the Business Growth Fund (BGF), the UK’s most active growth capital investor. Polar Technology Management Group is an Oxfordshire-based business which manufactures high-performance carbon and metal components for the automotive, medical and aerospace/defence sectors.
Polar Technology Management Group was established in 2012 by Scott Roberts and Mike Dewhirst. The business designs, develops and manufactures products and technology based around advanced composite materials, emerging metal processes and metallic fabrications. Key clients include a range of technology specialist companies in the medical and aerospace industries. The company is highly embedded in the automotive sector, working with F1 manufacturers, whilst also producing parts for high performance ‘Hypercars’.
BGF’s investment will be used to support Polar Technology Management Group’s planned move into a state-of-the-art 100,000 sq. ft. facility at Horizon Technology Park in Eynsham, Oxfordshire, doubling the size of its production capacity and creating over 110 new jobs in the next two years. The new facility is expected to be fully up and running during 2021.
Scott Roberts, Co-founder of Polar Technology Management Group, said: “[BGF’s investment] will enable us to grow faster, support our customers better and provide job security to our existing team of highly skilled, dedicated, employees. This is a milestone transaction for us - many thanks to Will and the team at Charles Russell Speechlys for their invaluable support to get this deal over the line.”
Corporate partner Will Nash added: “we were delighted to advise Scott, Mike and the Polar Technology team on this transaction as part of our long-term client relationship with Polar Technology since its launch in 2012. We wish the team all the very best as the business goes from strength to strength.”
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