Whether it's to support organic growth or acquisitions many businesses in Wales need to raise new finance to realise their growth plans, whether it be in the form of debt or equity.

And here are a number of businesses across Wales, and in different sectors, which have done just that.

Jottnar

Left to right Leanna Davies of Finance Waes, Tommy Kelly, Jottnar, co-founder, Steve Howarth , Jottnar co-founder and Bethan Cousins of Finance Wales

Outdoor clothing company Jöttnar, whose products are designed to withstand some of the world’s coldest environments, is chartering its next growth phase after securing a seven-figure equity investment.

Cardiff-based Jöttnar was founded in 2013 by former Royal Marine commandos Steve Howarth and Tommy Kelly who specialised in mountain and extreme cold weather warfare.

They were serving together in the Norwegian mountains during a fierce Arctic winter when inspiration took hold – the development of technical outdoor clothing that would protect against the most extreme weather whilst capturing the purity and elegance of the Scandinavian landscape.

Its latest funding round has been backed by Finance Wales and London-based investment fund Venrex.

Mr Kelly said: “We’d both finished careers in the military, were both committed climbers and skiers, and so decided that the best way of achieving real professional and personal satisfaction would be to build a business around the things that we loved.

“So we took a couple of years setting things up – finding suppliers and manufacturing partners, prototyping, trialling – and then commenced trading in October 2013 with our launch range of just six items.

“At a time when many larger outdoor brands are chasing the casual high street consumer, we exclusively design and produce gear for the most brutal of conditions and for the most exacting of users.

“Climbing a mountain, or skiing back down it, doesn’t demand a kaleidoscope of clothing products, but it does demand that they be totally fit for purpose.”

Jöttnar will move into its fifth year of trading this October with the launch of its new winter collection.

Comprising waterproof shell, insulation, mid and base layers, the range has now evolved into a complete layering system of 23 pieces.

Its products are sold all over the world.

Perpetual V2G Systems

Andy Ling, managing director of Perpetual V2G Systems
Andy Ling, managing director of Perpetual V2G Systems

Perpetual V2G Systems has closed a six-figure funding round alongside the appointment of key staff to drive significant growth at the zero-carbon power solutions firm.

In the deal, existing shareholder Finance Wales has converted its £500,000 loan to equity. In a combined capital raise from existing shareholders, almost £300,000 of further funding was raised.

At the same time, business growth specialist Mervyn Ham has joined the Lampeter-based company as chief operating Officer, as well as joining the investor group in backing the business.

Perpetual V2G provides mobile clean energy power solutions to a range of applications and major corporations including well-known names such as Sainsbury’s and British Telecom.

The Lithium Power Supply (LPS) is paired with bespoke power delivery solutions to provide customers with the ability to significantly reduce vehicle idle times with massive savings in fuel and harmful CO2 emissions.

Across the utilities and other sectors, the LPS solution replaces noisy polluting generators with silent green energy.

Andy Ling, founder and chief executive said: “The opportunities for the Perpetual solution are larger than ever. I am delighted to have closed this funding round and equally delighted that Mervyn Ham has agreed to join the senior team. His years of experience in high growth businesses will be a major asset.”

Ashley Cooper, Chairman of Perpetual and co-founder of Catalyst Growth Partners, added: “It is testament to the business growth so far and the massive potential ahead of us that existing shareholders have backed the growth plan by both converting debt and injecting new capital. We have a game changing 12 months ahead of us and we look forward to delivering major value for our client base.”

Commenting on the round, Phil Barnes investment executive at Finance Wales said: “We have worked with Perpetual over the last two years and seen the massive market potential begin to crystallize for the business.

"The company has some very exciting intellectual property, which has the potential to be really transformative in the clean energy sector.”

The transaction was managed by Geldards acting for Finance Wales and Capital Law acting for Perpetual and other shareholders.

EnModus

EnModus

Smart building technology firm enModus has secured £3m in funding to help accelerate its global growth plans and double its workforce.

It’s latest funding round has been backed by three main investors, including one of the UK’s largest shopping centre owners, intu.

The other investors are Breed Reply, which invests in early-stage tech firms and the Welsh Government’s investment bank subsidiary Finance Wales.

Chepstow-based enModus has developed powerline technology which enables property owners to control, monitor and connect to the internet anything that is mains-powered in a building at a fraction of the cost of existing solutions, with considerably less installation disruption.

Its patented technology, Wattwave, can transform any industrial, commercial or retail property into a smart building, by connecting all devices to the cloud via the existing power line.

Launched in 2010, enModus specialises in smart light control (SLC) and building energy management (BEM).

The £3m series A funding, which brings total investments to date to £9m, will help the company accelerate its growth across Europe, North America, Asia-Pacific and beyond.

Already boasting global customers including Volvo, the start-up, which currently employs 16, aims to double staff numbers in its engineering and commercial teams within the next 18 months.

Andy Heaton, founder and chief executive of enModus, said: “This is an exciting moment for enModus. Having intu, such a key player in commercial real estate, joining our key investors and supporting us, is a validation that our technology is the best fit for safer and smarter buildings and that we provide our customers with a platform that helps them manage their energy efficiency priorities in the most effective way.

“The completion of our A round with the funding and support of intu, Breed Reply and Finance Wales is a real game-changer. It will allow us to rapidly grow our customer base across multiple regions.

"The Internet of Things (IoT) is driving new possibilities for control of a wide range of devices, from LED lighting to building control and other connected systems. It’s a huge market and we’re now well-placed to take advantage of that.”

Pensord

Pensord managing director Darren Coxon and operations director Karl Gater

Magazine printer Pensord has acquired family-run rival Cambrian Printers.

Pensord, which has a £12m turnover, prints over 400 regular publication and employs 150 people in Pontllanfraith.

Aberystwyth-based Cambrian Printers has a turnover of £7m.

Pensord said it is committed to maintaining the 50 plus workforce at Cambrian Printers, building on its litho printing of catalogues and brochures, as well as its commercial and digital work.

Cambrian’s current family owners, Robert and Tim Read will be retiring from an industry their family has worked in for 90 years.

The value of the deal has not been disclosed.

Pensord managing Director Darren Coxon said: “Cambrian Printers is a well-respected name in the industry with a portfolio of long standing customers, so when the opportunity to purchase arose we jumped at it.

“In challenging times with a number of big printing names going to the wall, this acquisition gives us the chance to expand our capacity and takes us into new commercial territories, adding to our digital work, and broadening our footprint within Wales.

"Robert and Tim have been terrific to deal with, and we wish them well in their retirement, safe in the knowledge that the business is in stable ownership, and being looked after as part of the Pensord family.”

Mr Coxon led a management buyout at Pensord with operations director Karl Gater some seven years ago.

Since 2011 Pensord has invested more than £10m in technology and processes,

The Cambrian name will remain for the time being.

Pensord received legal advice on the deal from Capital Law. Financial due diligence was provided by Green & Co with corporate finance from Lexington Corporate Advisers.

Litelok

Litelok

Swansea-based Litelok, the bicycle security firm founded by a former aeronautical engineer, has secured a seven-figure co-investment from Finance Wales and Business Angels.

Founder and CEO, Prof Neil Barron said: ‘We’re delighted to secure this funding, which is a tremendous endorsement of our vision to develop a range of innovative products and technologies in bike security” The funds will be used to invest in sales, marketing and product development and will keep the high - tech manufacturing in South Wales.

Dr. Richard Thompson Senior Investment Executive from Finance Wales said: “As a cyclist and a materials scientist I’m impressed at how Neil has created a step change in bike security.

"With this substantial investment we look forward to working with Neil and the team to introduce a range of innovative Litelok security products manufactured in South Wales.”

Already selling in 57 countries world-wide, Litelok has recently secured a deal with major UK retailer Evans Cycles.

Welsh legal expertise and a communications firms acquired

Greenaway Scott has facilitated the acquisition of an international medical device company helping to create a significant new presence in the global maternity industry.

The Cardiff-based business advisory firm has supported American medical device company Clinical Innovations in its acquisition of German developer Brenner Medical GmbH.

The deal, completed via Clinical Innovations Europe, will see the labour and delivery-focused equipment business expand on its international presence to help support more expectant mothers across Europe.

Matt Sutton, director of corporate at Greenaway Scott, which specialises in supporting companies in the science, technology, pharmaceutical and IT sectors, headed an international team of advisors along with Dr Steffen Fritzsche, of Gruendelpartner.

Mr Sutton said: “Greenaway Scott was pleased to assist in the acquisition of Brenner Medical GmbH by Clinical Innovations Europe.

“The acquisition, which we worked alongside Gruendelpartner on, was carried out extremely effectively and efficiently to ensure the best outcome for both businesses.

“This is an intelligent move by Clinical Innovations which will enable them to grow and expand across Europe and the global medical community.

“We wish them every success as they go forward with the growing business.”

TWL Voice and Data

Cardiff-based communications firm TWL Voice and Data has been acquired by Solar Communications.

This is the latest of three acquisitions since the start of 2016 by Solar Communications.

Founder and managing Director Andrew Nicholson will remain with the business and play a key role in integrating the teams and product sets of each firm.

Siôn Tudur, Partner at Loosemores Solicitors advised Andrew Nicholson on the sale.

Mr Nicholson said: “ “Selling the company was never going to be an easy task. Despite the challenges that came with it, the whole team at Loosemores were incredibly accommodating.

The reputation and history of the firm allowed me to feel reassured and supported throughout the process.”