trending Market Intelligence /marketintelligence/en/news-insights/trending/ycc52SX1Wm64hHfwqkNxEg2 content esgSubNav
In This List

BGF exits minority investment in Petrotechnics

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Beyond ESG with Climate Stress Testing: Getting Practical at Banks & Insurers

Blog

Broadcast broker activities, H1'21

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud


BGF exits minority investment in Petrotechnics

Business Growth Fund PLC exited its minority investment in Petrotechnics Ltd. following the latter's acquisition by Sphera Solutions Inc.

BGF invested £6 million in the software solutions company in 2013 to support the development of a software platform for hazardous industries, according to a Jan. 9 news release. Petrotechnics also used the funding for geographical expansion.

The management team supported by BGF, including Phil Murray, Iain Mackay and Alec Harcus, and BGF's Mike Sibson and Richard Pugh will step down from the Petrotechnics board following completion of its acquisition by Sphera Solutions.

Petrotechnics is an Aberdeen, U.K.-based company that provides software solutions for hazardous industries.