M Squared secures £32.5m from Santander UK and the Scottish National Investment Bank for a management buyout and growth.
The funding package comprises a £20m debt facility from Santander UK and £12.5m in growth capital from the Scottish National Investment Bank.
M Squared develops advanced photonics and quantum technology systems for diverse scientific and industrial applications. The Glasgow based business works to address global challenges spanning healthcare, climate change, and quantum computing.
M Squared has secured £32.5m in new financing, combining a £20m debt facility from Santander UK with £12.5m in growth capital from the newly launched Scottish National Investment Bank. The funding facilitates a management buy out that enables founders and senior executives to acquire a substantial portion of BGF shares while funding future technological advancement.
The transaction provides financial independence as the business accelerates its work in quantum technologies and commercialisation efforts. BGF retains a meaningful equity stake in the company following its initial investment in 2012.
From the founder
"M Squared makes the world’s purest light – technology that has transformative, real-world, applications that can take on the climate emergency, greatly improve biomedical imaging, realise the next evolution of semiconductors, and now truly unlock the coming quantum age."
Graeme Malcolm
Founder & CEO at M Squared
Investor perspective
"Santander is delighted to have provided M Squared with £20m of debt facilities to support their strategic buyout and future growth ambitions."
Richard Mathison
Structured Finance Director, Santander UK
Use of funds
- 01Fund research and development
- 02Fund acquisitions
Investors
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About the company
M Squared
M Squared develops cutting edge photonics and quantum technology systems for global markets.