Guardian secures £5 million investment from Epi-V
21 April 2008
Epi-V has backed Guardian Global Technology Group, a manufacturer of specialist measurement equipment used in oil field production across the globe.
Run by engineers Iain Maxted and Suzannah Bourne, the South Wales-based business designs and manufactures specialist down-hole hydrocarbon logging tools and associated services.
Its products are used to measure variables such as pressure, temperature and flow within a wellbore in order to monitor hydrocarbon production from the oil reservoir.
Established in 2004, the business has now secured the strategic and financial backing of Epi-V, which has invested £5million..
The business has seen revenues grow by 42 per cent over the last year and recently moved to a purpose-built 15,000 sq ft facility in Pyle, Wales.
This facility brings Guardian Global Technology's design laboratory, manufacturing workshop and testing facility under one roof. In doing so Guardian has expanded its capability to design and manufacture the specialist logging and well servicing tools for its customers.
The business already boasts a customer base of international oil field service companies such as Weatherford, Expro, Halliburton, Baker Atlas and Aker Kvaerner.
Following the investment, Guardian's management will be working with Epi-V to deploy our Breakthrough Entrepreneurship model to the business.
The model will focus on securing greater market penetration, full commercialisation of its broad product portfolio and further technology development.
Iain Maxted, Managing Director of Guardian Global Technology, said: "Over the past four years we've developed the capability to provide a flexible and rapid response to our customers' challenging requirements.
"This deal is the next stage in the business' progression as we've secured the backing of an investor that has invaluable sector knowledge and a strong track record of commercialising and marketing innovative new technology to the global oil and gas service industry.
"We have been approached over the years by other investors, but over the past six months we've formed a strong relationship with the Epi-V team and feel that their innovative management-style approach is best placed to help us quickly meet our growth potential."
Robert Preston, the lead partner of the investment at Epi-V, said: "Guardian Global Technology boasts a highly backable team with strong engineering expertise, a unique product portfolio and an excellent reputation for service.
"The company has a solid base on which to build a good position in the growing down-hole equipment market which was worth $1.5 billion in 2007.
"We'll be working with management to extract full value from its impressive product portfolio by introducing the rigorous business development, marketing, and financial disciplines required to increase the business' share of this growing area of the industry."
The deal follows Epi-V's investment in Aberdeen-based Brinker Technology. Brinker uses a unique and patented particle-based technology to remotely locate and seal leaks in oil and gas production and pipeline infrastructure.
Since the deal we have been working closely with management to build a strategy to develop the customer-focused, commercial orientation required to successfully globalise the company.
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