Angel investors cash in on Cascade sale
Emerson of US buys Stirling technology firm
Stirling firm Cascade Technologies has been sold to Emerson, a US listed engineering firm, for an undisclosed cash sum.
Scottish angel investor Braveheart Investment Group, which invested £149,969 in the business in 2006 and 2008, will receive £389,655 for its minority stake.
Around 40 of Braveheart’s private clients also realised their shareholding in Cascade and most should benefit from the tax reliefs provided by the Enterprise Investment Scheme (EIS).
Geoffrey Thomson, Chief Executive of Braveheart, commented: “We noted in our interim results announced on 15 December, that good progress was being made on the exit potential of the portfolio and we are pleased to announce this value-enhancing transaction.”
Cascade, established in Glasgow by Dr Iain Howieson in 2003, manufactures gas analysers and monitoring systems using laser technology.
The company is a pioneer in its field with “game-changing” instruments that measure gas composition. Its systems are mission critical products used by blue-chip industrial customers in often extremely harsh environments to dramatically increase productivity, control and improve quality, reduce costs, and comply with stringent regulatory requirements.