Private Equity

SME

3 minutes

2022-10-06

Foresight VCTs invest £5 million in antimicrobial technology developer Copptech

  • Copptech develops environmentally friendly antimicrobial technologies that kill bacteria, fungi and viruses
  • $4.7 billion per annum global market driven by increased hygiene awareness and focus on environmentally friendly antibacterial solutions
  • Highly scalable business model with proven commercial traction in the Latin American market
  • £5 million investment from Foresight VCTs to accelerate the growth of business in Europe and North America

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05 October 2022: Foresight Group (“Foresight”), a listed private equity and infrastructure investment manager, has completed a £5 million growth equity investment into Copptech (the “Company”), an innovative and rapidly growing anti-microbial technology business founded in 2016 in Chile.

Copptech develops additives that use copper, zinc and organic active ingredients which kill bacteria, fungi and viruses on contact. Applications for the technology are wide ranging and include diminishing the transmission of viruses in medical facilities, extending the shelf life of perishable goods, reducing discolouration and odour in clothing and providing mould, fungi and termite-resistant properties to building materials.

Copptech sells its antimicrobial formulations to airlines, construction materials suppliers, textiles businesses and footwear manufacturers.  The Company has proven its business to be highly scalable across Latin America and is already seeing meaningful traction in the large North American and European markets, where it is expanding its sales teams and operations.

Antimicrobial ingredients had a global addressable market of $4.7 billion in 2020, driven by spending in the healthcare and defence sectors, as well as apparel manufacturers. The market has grown at a combined annual growth rate of 9.8% since 2013, with growth accelerating due to increased hygiene awareness following the COVID-19 pandemic.

Several members of senior management are joining the Company at the outset of Foresight’s investment. These include new CEO Graham Sanders, with 25 years’ experience in the chemicals sector, Chair Jeffrey Halliwell, formerly the Managing Director of a large European antimicrobial business and Non-Executive Director Rasih Ozturkmen, with expert knowledge of the textiles industry.

Commenting on the investment, Hugh Minnock, Investment Director at Foresight, said: “Copptech represents an exciting investment opportunity in a highly scalable business, with proven commercial traction and a clear strategy to expand. Strong ESG credentials and tailwinds brought about by the COVID-19 pandemic and a heightened focus on hygiene make us optimistic for the future of the Company and sector as a whole.”

Jeff Halliwell, Chair at Copptech, added: “I am delighted and very excited to be appointed as Chair of Copptech. Copptech brings a unique set of scientific solutions to achieving anti-microbial protection built into a huge range of products and applications. Copptech has been an amazing success in Chile and the Americas and now this new investment from Foresight will enable us to offer these solutions on a truly global basis. We look forward to taking the market by storm.”

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Advisers to Foresight:

Financial Due Diligence by Crowe

Legal Due Diligence by Shoosmiths and Cariola

Regulatory Due Diligence by Klarus Consulting

Management Due Diligence by Catalysis

Cyber Due Diligence by KryptoKloud

Insurance Due Diligence by Vista Insurance

Executive Recruitment by Brightbridge

 

For more information contact:

Lucy Sherwood: lsherwood@foresightgroup.eu / +44 (0) 20 3763 6977

 

Notes to Editors

 

About Copptech

Copptech is a Chilean leading developer of antimicrobial technologies and industrial applications. The Company caters to a wide range of industrial, manufacturing and textile companies in the region, including Louisiana Pacific, Henkel, LATAM Airlines, Oakley, Bamers, Maui, Carvajal, Pan Pacific, Monarch, Kimba and Scorpi, among others.

 

https://www.copptech.com

 

About Foresight Group LLP (“Foresight”):

Foresight Group was founded in 1984 and is a leading listed infrastructure and private equity investment manager. With a long-established focus on ESG and sustainability-led strategies, it aims to provide attractive returns to its institutional and private investors from hard-to-access private markets. Foresight manages over 330 infrastructure assets with a focus on solar and onshore wind assets, bioenergy and waste, as well as renewable energy enabling projects, energy efficiency management solutions, social and core infrastructure projects and sustainable forestry assets. Its private equity team manages ten regionally focused investment funds across the UK and an SME impact fund supporting Irish SMEs. This team reviews over 2,500 business plans each year and currently supports more than 200 investments in SMEs. Foresight Capital Management manages four strategies across six investment vehicles with an AUM of over £1.6 billion.

Foresight operates from 13 offices across seven countries in Europe and Australia with AUM of £12.4 billion*. Foresight Group Holdings Limited listed on the Main Market of the London Stock Exchange in February 2021. https://www.fsg-investors.com/

*Based on Foresight Group unaudited AUM as at 30 June 2022 and Infrastructure Capital's unaudited AUM as at 30 June 2022 converted from AUD to GBP at an exchange rate of 0.5846 as at 7 September 2022.

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