Gas Tag has secured investment from private equity house Waterland, in exchange for a minority stake.
The deal, which values Gas Tag in excess of £20 million, will reportedly enable the business to continue to scale up rapidly both within the UK and internationally.
In return for the investment, Waterland will gain a minority stake and two of its senior team will join the board of the Liverpool-based company.
Stephen Ullathorne, co-founder of Gas Tag, said: “The Waterland investment will be transformational for Gas Tag. The funding and support of their experienced team will enable us to rapidly accelerate the growth of the business in the UK and internationally. We didn’t just want an investor, we wanted a partner, and Waterland stood out as the perfect fit with our ambitions for Gas Tag.”
Waterland UK’s Managing Director, Andy Scaife, and Senior Investment Manager, Ryan Hallworth, will join the board of Gas Tag.
Andy said: “Gas Tag is a hugely exciting and innovative company, exactly the kind of business Waterland looks to invest in. We are delighted that this is the first investment by our UK team.
“We were impressed by the vision of the company and its senior management team. As soon as we met with Paul and Stephen and saw the impact Gas Tag was making in the industry, we knew it was an investment we wanted to make.”