We are delighted that despite the difficult market conditions, one of our clients, Ciqual Ltd, has been able to raise equity finance from the new Par Equity angel syndicate with matched funding coming from Scottish Enterprise - Scottish Co-investment Fund.  Ciqual Ltd is a Scotland-based telecoms company, which will use the new investment funds to accelerate product development and sales to the global marketplace.

Stuart Hendry, Partner at MBM Commercial LLP, noted:
"We are delighted to have helped Ciqual Ltd secure funding in what was the first investment by Par Equity’s business angel syndicate.  Our corporate finance and intellectual property teams were involved as part of the transaction.  The need to take into account the interests of seed round investors, with a number of parties involved both in the UK and abroad, meant that strong project management skills were required by the company and our team.  We wish Ciqual the very best in its new phase of product development and international sales and congratulate Par Equity on securing their first deal."

John McElroy, Vice President Operations at Ciqual Ltd, noted:
"Ciqual is fortunate to be addressing a market that is bucking the trend. Mobile Operators have discovered a genuinely new application called Mobile Broadband that has surprised everybody with its growth in new customers and revenues. It is an opportunity that they cannot afford to lose out on, given their challenges in the traditional mobile application areas.  Over the next few years we intend to become a major player in the business of providing Mobile Operators with software solutions that will help them achieve a better understanding of the quality of their customers’ experience and so improve customer care.  These are challenging and dynamic times, making it even more important for us to avoid becoming distracted from our core business. The very experienced support from MBM was greatly appreciated, helping us and our existing investors navigate the choppy waters of the equity investment world to reach a successful and mutually beneficial conclusion with Par Equity and the Scottish Co-investment Fund.”

For further information please contact Stuart Hendry on 0131 226 8203
or email stuart.hendry@mbmcommercial.co.uk