SST Sensing designs and manufactures a range of electronic fluid and gas sensors for a variety of industry sectors.
When the company wanted to develop its research and development capability alongside ambitions for international expansion, it turned to UK Steel Enterprise who provided equity funding as part of a £500,000 package.
“Equity finance was the ideal route for us,” says company founder, Keith Wight. “We feel that we have benefitted not only from having an injection of capital but also from our long-term partnership with UKSE. It is a source of valuable advice and support and also demonstrates to others that UKSE has confidence in the company.”
When seeking funding, the existing shareholders were keen to limit the number of shares that would need to be sold to an incoming investor, whilst ensuring they still raised sufficient cash for their plans.