- STATS was BGF’s first investment in Scotland in 2012
- Mitsui & Co is a global trading and investment company
- BGF is a growth capital investor in the UK and Ireland
BGF has sold its investment in STATS (UK), a supplier of pressurised pipeline isolation, hot tapping and plugging services to the global energy industry.
No financial details of the transaction were disclosed.
STATS is headquartered in Aberdeenshire, Scotland.
STATS was BGF’s first investment in Scotland in 2012.
“STATS has grown fourfold during this period, and we are confident that the new partnership with Mitsui will continue this impressive growth trajectory,” said Richard Pugh, investor at BGF. “This has been another strong outcome for BGF, and we would like to thank the STATS team for driving this growth and wish them every success for the future.
BGF invested a total of £16 million for a minority equity stake to support STATS’ growth plans.
BGF’s investment has enabled STATS to invest in people and product, as well as supporting the expansion of its international footprint in key overseas markets, according to a release.
Mitsui & Co is a global trading and investment company headquartered in Tokyo, Japan.
BGF is a growth capital investor in the UK and Ireland. The firm is based in London.