SRT Marine Systems
SRT Marine Systems
We are delighted and proud to have supported our longstanding client with this fundraise. The level of support from new institutional investors as well as the existing shareholder base is testament to how far SRT has come in the last few years after all the hard work the team has put in.
There has never been a better time for a UK Defence and security-focused SME to explore its strategic options. Defence sector tailwinds are at their strongest in a generation, Europe is undergoing a transformational uplift in defence spending, and sovereign capability is increasingly attractive. At Cavendish, we have been at the heart of this wave, advising on landmark SME transactions across our public and private market team.”
Jonny Franklin-Adams
CORPORATE FINANCE MANAGING DIRECTOR, TECHNOLOGY, CAVENDISH
Cavendish is pleased to have acted as nominated adviser and sole bookrunner to SRT on a £17.5 million oversubscribed placing, subscription and retail offer. The fundraising will enable SRT to accelerate product development and support new contract conversion and delivery, building on 426% year-on-year revenue growth.
SRT Marine Systems is a global leader in maritime domain awareness, providing the sovereign surveillance, navigation safety and vessel tracking systems that coast guards, defence agencies and naval authorities rely on worldwide. Its technology is already operational in Kuwait, and with tensions escalating around the Strait of Hormuz, SRT is in discussion with governments across the region about the potential deployment of its USVs for mine detection and ship convoy escort.
Meet the deal team
Matt Goode
Head of Consumer, Capital Markets
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Jonny Franklin-Adams
Corporate Finance Managing Director
