Case studies

Sale of University of Surrey fibre optics sensing technology company

We advised the shareholders of Polarmetrix Limited on the sale of the company to Fotech Solutions Limited, a UK developer of monitoring and surveillance solutions for oil and gas wells and pipelines.

Polarmetrix, which was based in the Surrey Research Park in Guildford, is a University of Surrey spin-out company specialising in the research and development of fibre optic sensing technology for the security and oil and gas sectors. Optical fibres are ideal for a wide variety of industrial sensing applications over short or long distances.

The sale of the company to Fotech – which recently secured £6.5 million in funding from investors including Scottish Equity Partners, Energy Ventures and the Shoaibi Group of Saudi Arabia – will mean that the business can be expanded and further applications developed for the commercial sector. Fotech is in the process of creating a range of innovative products for the oil and gas instrumentation and sensor market. It has established a new base in Hampshire.

Penningtons’ business services team, led by partner Sarah Scarlett, co-ordinated the deal, advising all selling shareholders. Commenting on the transaction, Sarah said: “We are pleased to continue our association with the University of Surrey by advising on the successful sale of Polarmetrix, in a transaction which will provide excellent opportunities for the company’s future success.” 

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Penningtons Manches LLP

Penningtons Manches LLP is a limited liability partnership registered in England and Wales with registered number OC311575 and is authorised and regulated by the Solicitors Regulation Authority. San Francisco is an associated office.

Penningtons Manches LLP