Corporate lawyers at North West law firm SAS Daniels LLP have advised North Wales based energy reduction business SenseLogix on securing a £1million investment package.
The capital has been provided by The North West Fund which provided £650,000 with the remainder coming from SenseLogix’s existing investors, private equity firm Beringea and the North East Accelerator Fund.
The business, which is supported by the Carbon Trust, provides energy reduction technology for the commercial and education sector. The investment will allow SenseLogix to open a second base as a new headquarters in the Chester area, as well as strengthening its sales, technical and customer service teams.
The fund will also help the company to commercialise its energy reduction solution ‘EnergyLogix’, which is an energy management platform that can be retro-fitted into a building to eliminate electrical waste from items such as IT and appliances, as well as providing data collection, reporting and communication tools to support administration and behaviour change.
Corporate partner at SAS Daniels Jeremy Orrell acted for SenseLogix on the transaction.
Commenting on the deal Jeremy Orrell said: “This transaction is a good marker to demonstrate that, despite the recession, investment funds are still available to back innovative companies.
“We helped SenseLogix on their previous fundraising exercise at the end of 2010 and we are delighted to have been able to act for them again on this latest deal which will enable the firm to continue its rapid development.”
Fund manager Adam Workman has been appointed to the board of SenseLogix alongside its sales and marketing director David Hall.
SAS Daniels supports its clients by providing first rate commercial and personal legal services from its local offices in Chester, Congleton, Macclesfield and Stockport.