Panoramic Growth Equity (Panoramic) has completed the fifth exit from its first fund with the sale of Edesix, a specialist in body worn video hardware and software, to Vigilant Solutions, of Livermore, California.
Based in Edinburgh, Edesix sells across multiple global markets and has grown strongly following Panoramic’s investment in 2014. Under the direction of CEO Richie McBride, the business will continue its expansion as part of Vigilant, a provider of artificial intelligence and data analytics technologies for public safety.
During Panoramic’s investment, Edesix has successfully developed its product and software range, entered into new international markets and delivered multiple high-profile contracts including HM Prisons and several police services both at home and abroad. The company was recently placed in this year’s Sunday Times Hiscox Tech Track 100 and was the winner of the BVCA’s Management Team of the Year Award in Scotland in 2016.
David Wilson, partner at Panoramic, who led the investment in Edesix, says: “Edesix’s success has been driven by a dynamic and exceptional management team navigating a rapidly changing and growing market. This investment is a great example of Panoramic’s successful strategy to back high growth companies in Scotland and the UK to develop their potential across the globe.
“We wish Richie and his team every success as part of Vigilant, and look forward to following their continued success. I would also like to put on record our thanks to the rest of the board, including chairman Gordon Thomson and non-executive director David Carrick.”
Panoramic continues to make new investments from its second fund, investing between GBP1-5m into UK based management buyouts and growth capital situations, across a range of sectors. Examples of deals completed include Majestic Polymers and DSA Chemicals (Doncaster), a specialist chemical manufacturer, Photonic Solutions (Edinburgh), a distributor of high-end laser technologies and Quill (London), an online content technology business.
