Investee Company – Beach Solutions Ltd (UK)
Investee Company Business Type – software provider to the embedded systems industry
Type of Financing – Expansion
Equity Providers – MTI
Equity Leader (Individual) – Dr Paul Castle, chief executive
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – euro3.09 million
Total Deal Value – euro3.09 million
Other Advisors – N/A
Comments – MTI has invested the first £2 million of a total £3 million, from MTI’s fourth fund MTI4, in Beach Solutions, an innovative Electronic Design Automation (EDA) company.
Headquartered in Devon, UK, Beach Solutions is a leader in providing System on Chip (SoC) IP Packaging, Deployment and System Integration software products to the embedded systems industry. All Beach Solutions products are based on its Embedded Application System Interface (EASI*) technology. This ensures data consistency between hardware and software throughout the development of any SoC design.
Terry McCloskey, chief executive of Beach Solutions, said: “In this very challenging environment this investment by MTI is a resounding endorsement of Beach Solution’s technology and how we solve customers’ critical IP packaging, re-use and System Integration problems.”
Commenting on the deal, Dr Paul Castle, chief executive of MTI, said: “Beach Solutions is a typical MTI investee company and we are very pleased to have them in our portfolio. They have market leading technology, which offers significant user benefits and are working in an exciting and fast growing sector. We hope that this funding will allow Beach Solutions to fully realise their full potential.”