Here we feature the latest equity news supporting the growth of Welsh firms.
Tech-enabled inspection services provider for the global commercial shipping sector, Idwal Marine Services, has secured an eight-figure equity investment to support its expansion plans.
The investment into the Cardiff-based firm, the exact value of which has not ben disclosed, has been made by private equity firm LDC.
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Idwal provides specialist asset condition and integrity inspection services, fleet monitoring and data services for customers across the marine industry. It employs 55 people at its head office at Caspian Point in Cardiff Bay, in addition to a number of remote workers throughout the 海角视频 and internationally in Greece, China and Japan.
The business was originally founded as a division of Cardiff-based Graig Shipping in 2010. With its investment and support, Idwal has experienced rapid under chief executive Nick Owens with growing demand from its global customers.
The business, a certified carbon neutral organisation, was the first in its industry to include both decarbonisation metrics and crew welfare and working condition data in their reports. It is also focused on the provision of advanced environmental, social and governance (ESG) reporting to ensure that its customers are meeting increasingly stringent sector wide environmental reporting requirements.
With LDC’s support, Idwal’s management team will further develop the platform, data and service provision and expand its network of overseas offices, which already includes China, Greece and Japan.
Graig was originally founded over 100 years ago by Idwal Williams in the heart of Cardiff commercial and shipping district. Today, it is one of the 海角视频’s leading global shipping groups, specialising in structuring, advising and leading investments in services and shipping assets in the international marine market. The company said Idwal was a further example of the group’s successful track-record of developing “best in class” marine based business innovations and ventures.
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Graig confirmed it is well-advanced on bringing its next maritime venture to market aimed at exploiting the rapidly growing global offshore wind and renewables sector.
LDC’s investment team in Wales and south west of England led by Dewi Hughes, Oliver Schofield and James Garland.
Mr Owens said: “This is the ideal outcome for both Idwal and Graig, as well as our customers and colleagues. As an independent company with the support of LDC, Idwal is strongly positioned to increase investment in its services and its international presence.
“The LDC team were exactly what we were looking for. Their local presence and successful track record in helping technology businesses develop and scale made them the ideal partner to support our growth plans.
“Looking ahead, we’re really excited about the opportunity to now expand our global presence and fly the flag for Wales on the international maritime stage.”
Hugh Williams, chief executive of Graig, said: “Idwal has grown from a new service to a genuine leader in its field with significant potential. For us, this was an intentional next step for Idwal and is part of Graig’s strategy to refocus the business on its core shipping investments within the fast-growing offshore renewables sector. We look forward to continuing to partner with Idwal in our markets.”
Mr Hughes, partner and head of LDC’s Wales and the south west team, said: “Nick and the team have successfully built Idwal into a globally respected business with a reputation for sustainable and innovative services in an evolving marketplace. Now, with the opportunity to further develop its technology platform and further penetrate overseas markets, they will be able to fulfil their ambition to make Idwal the global leader and the Idwal Grade the pre-eminent standard in the international commercial shipping market.”
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The level of LDC’s stake in the firm has not been disclosed.
s part of the investment, Gehan Talwatte and Simon Morse will join the board of Idwal as non-executive chairman and non-executive Director respectively. Both are successful private equity non-executives and their experiences span data, marine services and global growth businesses.
LDC was advised by KPMG (corporate finance), Blake Morgan (legals), OC&C (commercial due diligence), BDO (financial due diligence) and EY (tax). The management team was advised by Lexington (finance) and Capital Law (legals). Graig was advised by Stout (corporate finance) and Taylor Wessing (legals).
Lovetovisit
Cardiff tech firm Lovetovisit.com, which is aiming to revolutionise how people book tickets for experiences and venues, has raised £2.1m to fund further expansion plans.
The firm, which also has an office in London, has raised £600,000 from its founders and £1.5m from angel and corporate investors including £250,000 from Welsh adrenaline attraction venture, Zip World.
Further fundraisers are also planned, with the company aiming to launch in the UAE and in the US this year. It is also looking to expand in the 海角视频 domestic travel market and grow its monthly users to 10 million.Launched at the start of last year, Lovetovisit is looking to become the Just Eat and Airbnb in the events and experiences market. It was co-founded by Fed Pereira and twins Georgia and Alice Aubrey.
The 海角视频’s marketplace for events and experiences, from major attractions to smaller operators, is worth £24bn and growing at a rate of 15% per annum.
However, the sector suffers from a lack of digitisation with only 8% of attractions having mobile optimised websites. It is estimated that over half of attractions and experiences have no online booking capacity.
The start-up offers a digital solution offering consumers the ability to browse and book attractions, experiences, activities, theatres and events without having to leave the platform or pay membership fees. Its revenue model will see it taking a fee from each ticket sold. The startup is aiming to reach £500,000 in monthly sales by the end of this year’s summer season.
It already has 1,600 tourism and culture venues signed up, as well as partnering with industry heavyweights such as London Theatre, Encore, and Tiqets. Projections for the platform estimate monthly users of between three and five million.
Chief executive Mr Pereira said: “We already have the largest bookable inventory of ‘things to do’ in the 海角视频. Now with Zip World’s investment we can continue our growth and maximise opportunity in the £24bn 海角视频 consumer market. Ultimately it will lead to an increase of bookings across the industry, exposing audiences to more ‘things to do’ inspiration than ever before.
“It’s fantastic to have support from Zip World given their position and standing in tourism. Both our businesses are ambitious and forward thinking so it’s a great match. It also gives us an incredible wealth of experience and business acumen to tap into at Zip World.”
Zip World founder and president, Sean Taylor said: “The partnership is a clear statement from Zip World Group about how we see the future of domestic tourism and the importance of tech innovation and strong digital content. Consumers want choice, they want discovery and booking to be simple, and they want the online experience to be fun - that’s exactly what Lovetovisit.com offers.”
He added: “This a great example of two innovative Welsh companies working together and we’re really excited about its potential. We’ve been investing significantly in Zip World to cement our position as a world-class attraction group and now, through this partnership, we’re investing in the future of the domestic tourism industry.”
2B Enterprising
Swansea-based bilingual enterprise learning venture 2B Enterprising has completed a second investment round from a syndicate of 10 business angels to support its growth plans. Led by Angels Invest Wales lead investor Ashley Cooper, the syndicate has invested £390,000, including a second round of funding of £125,000 from the Development Bank of Wales’ Wales Angel Co-investment Fund.
This brings the aggregate number of angel investors over the two funding rounds to 21. It follows a £400,000 equity round in November 2021 which helped the business fund a series of appointments - including Jayne Brewer as chief executive - and allow it to work with over 220 schools in less than 18 months.The latest equity funding will enable 2B Enterprising to develop further class materials for older age groups for use by schools throughout Wales and England as well as recruit additional teaching staff to work alongside corporate partners to deliver the programme.
The funding will also help 2B Enterprising to explore extending its core proposition beyond the classroom through cartoon animation of its the Bumbles of Honeywood book series. Established by enterprise educator Sue Poole, 2B Enterprising has created and introduced the Bumbles of Honeywood as an enterprise skills programme specifically for children aged 5-to-7 years old.
Developed by entrepreneurial business leaders and experienced educators with extensive input from teachers, the Bumbles of Honeywood features a series of illustrated books and over 120 activities that enhance the teacher’s toolkit and improve numeracy, literacy, digital and physical education skills alongside developing an enterprising mindset.The 20-strong team has delivered over 480 in-class activity sessions attended by over 14,000 children in schools from Tower Hamlets to Haverfordwest, with 20% of these being Welsh language schools.
Jayne Brewer said: “Education needs to prepare young people for a rapidly changing future and the world of work. Our enterprise education programme teaches broader skills such as resilience, teamwork, communications and problem solving, all of which will help to prepare future generations of leaders and entrepreneurs.
“Our growth over the last 18 months is testament to the calibre of our resources and our team. Businesses want to partner with us because they recognise the benefits of developing ambition and enterprise in young people while schools appreciate the fun and interactive way in which we embed entrepreneurial learning. The on-going support of our investment partners is enabling us to make a real difference to thousands of young lives.”
Ashley Cooper, lead investor for the business angel investment syndicate, said: “With 21,328 primary schools in the 海角视频, the primary education sector is valued at £35bn annually. The collective firepower of this, now 21 strong, syndicate means that 2B Enterprising can scale-up significantly with the roll-out of additional resources and investment in technology; expanding their reach across multiple platforms that will increase impact and develop wider visibility of our proposition.”
Angels Invest Wales investment manager Carol Hall said: “This follow-on investment will accelerate the growth of 2B Enterprising and help young people to understand the world of business and work. It’s a great example of how business angel syndicates can make a real difference to our economy and society by working together as a group of investors to support more businesses.”
One of the investors, founder and director Gambit Partners, Ajay Mistry, said: “We’re proud to support 2B Enterprising. We believe that the current school system doesn’t develop entrepreneurial skills – and the 2B Enterprising programmes are a fantastic way to get children into the future mindset they will need. We look forward to seeing the positive social impact of this investment and the potential for future success.”
The programme is funded via a Corporate Engagement Partnership Programme (CEPP) that involves local and national businesses partnering with schools to bring real life enterprise experience into the classroom. Existing partners include National Grid, SONY, Acorn, Vinci, Bluestone Resorts, Redrow Homes, University Wales Trinity St David and various housing associations.
The £8m Wales Angel Co-investment Fund provides Welsh businesses with a key source of alternative finance through the encouragement of more active angel investment. The five year fund supports the creation of angel syndicates and networks across Wales by providing loans and equity up to £250,000 to investors looking for co-investment.