Keebles advises Pressure Technologies to secure £7.5m through fundraise

Keebles advises Pressure Technologies to secure £7.5m through fundraise

Keebles has advised Sheffield-based specialist engineering group Pressure Technologies on raising a pre-expenses total of £7.5 million through a share placing and a PrimaryBid.com offer.

The fundraise will see £2.5 million invested in Pressure Technologies group’s manufacturing capability and capacity in order to accelerate growth in the fast-developing hydrogen energy market.

A further £500,000 will be invested in resources and technologies across the group’s integrity management business to meet the growing demand for these critical services, with the remainder of the net proceeds to be used to strengthen the company’s balance sheet.

The fundraise will also enable the group to continue to invest in its people, facilities, and systems through this period and to take advantage of emerging opportunities.

Led by Keebles partner Michael Hall (pictured), the firm’s corporate team advised Pressure Technologies on the successful fundraising process.

Hall of Keebles said: “We were delighted to work with our long-standing client Pressure Technologies in securing this fundraise, which will allow further investment in the resources needed to enable Pressure Technologies to meet the growing demand for its products and services in the hydrogen energy market.”

“We look forward to seeing Pressure Technologies continue to exploit the opportunities for growth presented by the continued development of this important emerging technology.”

Chris Walters, chief executive of Pressure Technologies, said: “We are grateful for the strong support of our shareholders and new investors, demonstrated through this successful fundraising.”

“The investment provides us with the resources to capitalise on exciting opportunities in the hydrogen energy market and to accelerate growth in our integrity management services business.”

“The now stronger balance sheet will provide resilience through tough oil and gas trading conditions, strength in the development of partnerships and the negotiation of major contracts and flexibility to take advantage of emerging opportunities.”

Categories: Business Development, News

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Mark Dugdale

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