Turquoise offers capital raising, M&A and investment management services.

Services

Turquoise is a leader in advising clients on capital raisings of £5-£100 million across the capital structure:

Equity Intermediate Debt
Ordinary Convertible Senior
Preferred Mezzanine Venture

 

Our clients are predominantly private companies, from early to growth stage. We have worked with businesses engaged in technology, manufacturing, projects and services.

We source funds from a range of investors in UK, Europe and elsewhere:

  • Venture capital funds
  • Sovereign funds
  • Private equity funds
  • Corporate & strategic investors
  • Infrastructure funds
  • Banks
  • Debt funds
  • Family offices & HNWIs

 

Deal highlights

The following examples illustrate the breadth of our coverage:
Dearman Engine Company

Dearman Engine Company

Capital raising for cold economy technologies

Dearman has developed novel technology for harnessing energy stored in liquid air to deliver zero-emission power and cooling. These can be applied in transport refrigeration and other sectors, resulting in significant reductions in operating cost, fuel usage and emissions at low capital cost. Turquoise advised the company on developing its long-term funding plan and then raising £19.5m of equity and debt.

Controlled Power Technologies

Controlled Power Technologies

Capital raising for automotive emission reduction technologies

Controlled Power Technologies was spun out of Visteon in 2007 to commercialise technologies for reducing emissions and improving fuel economy of conventional vehicles. To date, Turquoise has assisted the company in raising more than £33m of equity over several investment rounds.

Gasrec

Gasrec

Capital raising for transport fuels supply business

Gasrec is Europe’s leading supplier of liquefied gas fuel to the road transport sector. The company supplies >60% of dual-fuel and gas powered HGVs on UK roads, helping operators reduce both fuel costs and air pollution. Gasrec owns proprietary technology deployed in a plant producing ~5,300 tpa of liquid biomethane from stranded landfill gas which is blended with LNG and sold through 11 refuelling stations across the UK. Turquoise advised the company on raising £10m of equity funding.

Gasrec

Turquoise advises corporates and their shareholders on transactions such as mergers, acquisitions and disposals, joint ventures and secondary share sales. Clients have included early stage technology businesses, growth stage companies, blue chip corporates and financial institutions.

Deal highlights

The following examples illustrate the breadth of our coverage:
Oval Medical Technologies

Oval Medical Technologies

Trade sale

Oval Medical Technologies is the developer of a series of novel auto-injectors for a range of pharmaceutical applications including epinephrine. In 2016, Turquoise advised the company’s shareholders on its sale to privately-owned SMC (Scientific Molding Corporation) of the United States.  SMC is a manufacturer of single-use devices for the healthcare, pharmaceutical and diagnostics industries.

Controlled Power Technologies

Controlled Power Technologies

Spin-out and divestment

Controlled Power Technologies develops technologies for reducing emissions and improving fuel economy of conventional vehicles. In 2007, Turquoise arranged the spin-out of the company from Visteon and its establishment as an independent business. In 2011, Turquoise arranged the sale of one of Controlled Power Technology’s business units to Valeo.

Push Energy

Push Energy

Sale of solar projects

Push Energy is a solar developer and EPC contractor. In 2014 and 2015, Turquoise advised on the sale of 8 of the company’s projects representing 140MW of capacity. Turquoise also assisted in raising construction finance for 6 projects constructed by Push Energy as EPC contractor.

Push Energy

Turquoise provides a range of services to investors, from discretionary fund management to advice on individual investments. These include advising on investment strategy, creation of corporate venturing funds, membership of fund investment and advisory committees and portfolio management

Deal highlights

The following examples illustrate the breadth of our coverage:
Low Carbon Innovation Fund

Low Carbon Innovation Fund

Fund management

Turquoise was appointed as fund manager of the Low Carbon Innovation Fund in 2011. LCIF was created with EU funding to invest in low-carbon ventures in the East of England region. Turquoise responsibilities include establishment and administration of the fund, investment selection and execution, investment monitoring and board representation and liaison with and reporting to the fund investor’s representatives.

PGM Development Fund

PGM Development Fund

Advisory Board and Investment Committee

Turquoise seconded one of its team to serve on the advisory board and investment committee of PGMDF, an Anglo Platinum corporate venturing fund. Responsibilities included working with other board members to provide oversight and final investment decisions. Turquoise also provided additional specialist input on investment appraisal and sourcing of deal flow.

YIUK

YIUK

Investment advisory

Turquoise was retained by YIUK to assist it in leading a restructuring and refinancing of one of its cleantech portfolio companies. This involved a change in the company’s share structure, appointment of shareholder representatives to the Board, a shareholder-led refinancing of the company and hiring of new senior management.