Prism Support Acquisition of Offshore Personnel Safety Systems Developer
We are pleased to announce that the Prism team have supported marine security specialists, MarineGuard Systems Limited, in their acquisition of offshore personnel safety systems developer, Exploration & Production Information Company Limited.
MarineGuard Systems Limited (MarineGuard) is based in Southampton and was founded in 1998 to track and monitor small boats around the world. Today, it is the market leader in marine security – designing, manufacturing and installing automated security systems on the world’s largest superyachts. MarineGuard’s philosophy is that security should be ubiquitous without being intrusive.
Exploration & Production Information Company Limited (EPIC), based near Aberdeen, was founded by Ian Traquair in 2003. Its software and hardware systems target the safety of people onboard ships and rigs. They provide management, tracking and mustering capabilities to keep personnel as safe as possible and reduce risk in the event of an offshore operational disaster.
Prism Corporate Broking (Prism) are specialist M&A advisors focussing on the tech sector. They have years of experience in helping people to buy and sell businesses. The Prism team worked closely with MarineGuard, providing expert advice and guidance throughout the entire acquisition process.
Richard Webb, founder and CEO of MarineGuard says “We were looking for exciting new markets that we felt could benefit from our expertise. When Prism introduced us to EPIC it was remarkable to see the core product similarities despite the differences in end application, and the more we talked the more evident it became that the two businesses could benefit one another. The acquisition process with Prism went very smoothly and we are excited for the next phase of our business.”
Ian Traquair, founder and Managing Director of EPIC says “The combined talents and experience of EPIC and MarineGuard will provide a solid base for growth and development to meet current and future challenges. Joining forces offers significant advantages to both companies, staff and the merged customer base.”
Peter Watson, Managing Director of Prism says “We had met Ian Traquair a few years earlier and then when MarineGuard approached us wanting to buy a business we realised that EPIC would be a great fit. I’m very happy to have supported them during the acquisition. We are excited by the opportunities this merger presents and look forward to continuing to assist MarineGuard on their journey.”
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