Marine Rescue Technologies secures £750k debt finance from FW Capital to fund recruitment and sales support.
The East Yorkshire safety solutions provider has raised £750k from FW Capital via the Northern Powerhouse Investment Fund.
Marine Rescue Technologies manufactures and supplies commercial man overboard safety solutions to global industries including aviation, defence and renewable energy. The firm operates from Beverley in East Yorkshire and employs twenty staff.
Marine Rescue Technologies has secured £750k in debt finance from FW Capital through the Northern Powerhouse Investment Fund. The funding will support the business as it delivers several important projects and pursues growth opportunities in new markets.
The capital injection will be directed toward recruiting three new staff members, increasing marketing expenditure, and providing sales support. This financial backing coincides with the upcoming April launch of the sMRT SHIELD PLB personal locator beacon, designed for both maritime and land-based applications.
From the founder
"The investment from FW Capital comes at a time of great growth for MRT, with many exciting opportunities in development."
Ryan Pettit
CEO at Marine Rescue Technologies
Investor perspective
"With a skilled and dedicated senior management team, MRT has strong levels of ongoing recurring revenue and clear, well-constructed strategic growth plans to expand the business organically, as well as selling into new markets with new products."
Keith Charlton
Senior Investment Executive, FW Capital
Use of funds
- 01Grow the team
- 02Invest in sales and marketing
Investors
Categories
About the company
Marine Rescue Technologies
Marine Rescue Technologies manufactures commercial man overboard safety solutions for global industries.