Birmingham private equity house invests in Swiss forensic tech firm
Birmingham-based Heligan Group has bought Swiss firm Projectina from Ultra Forensic Technology (UFT), a subsidiary of Ultra Electronics Holdings.
Projectina is a niche forensic and security-focused optical engineering business that has manufactured comparison microscopes, document examination products, forensic crime scene equipment, and has also provided custom OEM engineering services for over four decades. Projectina is non-core to UFT who will continue to focus on the nuclear, aerospace, defence and forensics markets.
The acquisition expands Heligan’s portfolio of science and technology-led companies across its core national security, crime prevention and public safety sectors, and complements its corporate finance advisory services.
Dr Tim Grasby, managing partner at Heligan Group, said: “Projectina is our second international investment and is a well-established, market-leading, business operating in sectors that we have deep levels of operational experience in. We are extremely excited about this landmark transaction and we are looking forward to working with the Projectina team to drive growth and to leverage the opportunities provided by our expanding sector focused portfolio.”
Alvaro Venegas, president, ultra forensic technology, added: Projectina, with its excellent technology, has further growth prospects with an owner who will focus on its core expertise. We’d like to thank our Projectina employees for their contribution to Ultra and wish them and the business the utmost success under new ownership.
The deal was led by Colin Strevens with support from Andrew Dickinson and Yasmin Deen (Heligan Group). Legal advice was provided by Dan Shilvock, Ben Turner, Dan Thomas, Craig Armstrong and Iofa O’Donnell (Shoosmiths).
