Adviser to BOOST&Co on its CBILS funding into OTAQ plc

Deal Overview

Wilson Partners Corporate Finance was delighted to support BOOST&Co with financial due diligence on its £2 million CBILs funding into OTAQ plc.

OTAQ continually monitors and explores its financing requirements, particularly to fund further acquisitions as the Company focuses on broadening its product and service portfolio to a global client base. As part of this objective, the Company has therefore fully drawn down on the £2m CBILs loan.

About the Parties

OTAQ is a highly innovative marine technology company focused on the marine aquaculture, offshore energy, renewables and oceanographic research sectors. It operates in four worldwide locations: Lancaster, Aberdeen and Ulverston in the UK and Puerto Montt in Chile.

OTAQ’s marine technology portfolio includes a market-leading intelligent acoustic deterrent system, Sealfence, designed to protect marine-based aquaculture sites from predation, with multiple systems deployed in Scotland, Chile, Finland and Russia.

The Company’s Oceansense leak detection systems have a global reputation as the industry standard solution and have been deployed successfully on hundreds of jobs. OTAQ’s Dragonfish laser measurement system is fast becoming recognised as one of the most accurate underwater precision laser measurement systems available. OTAQ also has significant experience in the design and manufacture of underwater connectors, penetrators and communication systems.

It seeks to develop and continuously improve its products using its specialist mechanical, electronic and software engineers with decades of experience in bringing underwater technology products to market. Concurrently, OTAQ seeks to expand its technology portfolio through acquisitive growth, with the aim of further expanding its aquaculture and offshore product offering.

BOOST&Co is a manager of Private Debt funds, specialising in providing bespoke lending solutions to UK SMEs. The business has a highly experienced team of 50+ across the UK and has made 100+ investments to date.

Tom Bradbury, Associate Director at Wilson Partners said: “Securing this funding line with an experienced and supportive lender such as BOOST&Co is a fantastic milestone for OTAQ plc, as it looks to fund further acquisitions. We were delighted to support BOOST&Co on this transaction and look forward to working with them again soon.”