Maven Capital Partners leads investment in Horizon Technologies
Maven Capital Partners (“Maven”), one of the UK’s most active investors in growth businesses, has led an investment round into Horizon Technologies (“Horizon”) for an undisclosed amount. The UK aerospace OEM is a world leader in airborne signals intelligence (SIGINT) systems. Additionally, the company’s business segment, Horizon Aerospace, is a leading developer of airborne Sat Phone monitoring systems for Intelligence, Surveillance and Reconnaissance (ISR) applications.
The transaction features a significant equity investment from Maven’s VCTs alongside a debt facility from Virgin Money. This round of financing will advance the anticipated late summer launch of Horizon’s space-based Maritime Domain Awareness (MDA) technology Amber™ data service.
The Amber™ platform uses a proprietary method of geolocation and fingerprinting of radio frequency signals to locate and track shipping vessels worldwide. This provides an end-to-end data services solution for defence companies and national government agencies to identify illegal maritime activity such as piracy, smuggling, illegal fishing, transhipments and terrorism – a market worth over $20bn and growing at 9% per year. Amber™ also has significant commercial potential for shipping companies, insurers and financial institutions to track vessels and ensure regulatory compliance.
Luke Matthews, Investment Director at Maven Capital Partners, said:
“Horizon has an established track record in the sector. It has proven its ability to deliver innovative signals intelligence systems for the defence and security market, which are being used by an impressive client base of commercial companies, government agencies and government-backed bodies. The development of its new space-based solution means that the business is well placed to capitalise on global trends that are increasing the demand for maritime domain awareness data. We are excited to work with Horizon on fulfilling its growth potential.”
John Beckner, CEO at Horizon Technologies, said:
“Having the financial support and domain expertise of Maven will help us execute our vision of launching Horizon’s application-ready technology into space more rapidly and broadly. With the benefit of experience, perspective, and relationships of this leading tech investor, we can demonstrate the capabilities of an ultra-reliable MDA service. The market sector is just scratching the surface in terms of applications for space-based geospatial data and is poised for rapid growth. We are already engaged in discussion with potential users of these new services within the media, shipping, finance, and defence industries.”
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Principals and key advisors to the transaction:
Legal – Gateley Plc
Financial – SME Finance Partners
Technical and Commercial – G3 Good Governance Group
Management – Argyll Fenton
Insurance – Lockton Companies LLP
Tax – Old Mill Group
For media enquiries or any questions about the investment, please contact:
Maven Capital Partners
Luke Matthews 07483 068 709 [email protected]
Steven Ford 07580 792 608 [email protected]
Sapience Communications (PR to Maven)
Richard Morgan Evans 077 5108 7291 [email protected]
Nick Andrews 077 1526 7232 [email protected]
Notes to Editors
About Maven Capital Partners UK LLP www.mavencp.com
Maven Capital Partners UK LLP (Maven) is an independent private equity house focused on the provision of flexible equity and debt funding for high growth businesses, and one of the most active investors in smaller companies in the UK.
Headquartered in Glasgow, and with offices throughout the UK, Maven has over 90 investment and support professionals providing truly nationwide coverage. Maven has £660 million funds under management and ready to invest, and manages assets for a variety of client funds, including Venture Capital Trusts, an institutional buyout fund, UK regional fund mandates, and Maven Investor Partners, a syndicate of family office and professional investors.
About Horizon Technologies https://horizontechnologies.com
Horizon Aerospace Technologies is a world leader in airborne Sat Phone monitoring systems for Intelligence, Surveillance and Reconnaissance (ISR) applications, equipping governments worldwide by enhancing their SIGINT capabilities. We are the Original Equipment Manufacturer (OEM) for the FlyingFish™ SIGINT system which is in operation on numerous platforms worldwide. They participate daily in SAR missions via NATO and FRONTEX in the Mediterranean Sea, and are heavily involved in international operations around the globe.
Horizon Space Technologies is the prime contractor for the UK Government’s Amber™ program. The Amber™ Program will consist of six (6) Amber™ CubeSats in multiple orbital planes providing global Maritime Domain Awareness (MDA) data to NMIC (led by the Royal Navy).