Press Release

Springboard is delighted to announce that it has acted as lead advisor on the management buy-out and £5m development capital fundraising for KeTech Group.

KeTech, a Nottingham based provider of rail communication systems and security products, was founded in 1999 and employs 65 staff across its Nottingham, Preston and London offices. Sales grew by 76% to £10.2m in financial year ending 31 August 2014 and the business is currently working on a major contract to provide driver information systems for Bombardier/Crossrail.

CEO Steve Berg, CFO Mike Tebbutt and MD (Rail) Denise Lawrenson have led the KeTech business for the past five years. They will be joined by Richard Moon as non-executive Chairman who brings a wealth of experience in the technology and defence sectors.

David Neate, Partner at Springboard, who led the transaction said; “KeTech is a great example of a successful and innovative UK manufacturing business. Under the stewardship of Steve and his team, the company has delivered an impressive track record of growth and has become a leading player in its chosen markets. Access to this additional funding from YFM will enable the business to accelerate its development and to capitalise on the growth seen in its markets internationally. I am confident KeTech will continue to go from strength to strength.”

Steve Berg, CEO of KeTech commented; “From the outset it was clear that Springboard understood our parameters for success. Whilst our deal faced a number of challenges, Springboard’s commitment to get the deal done and to achieve our agenda did not waiver. Springboard demonstrated excellent knowledge of the equity funding market and we would recommend them to others.”