National law firm Shoosmiths has advised a cutting-edge emissions detections company, Duvas Technologies (Duvas), on their £2.2m investment from private equity fund manager and Enterprise Investment Scheme specialist Calculus Capital.
Duvas, an Imperial College spin-out, develops emissions detection technologies used to monitor air pollution in major cities and industrial centres around the world. The company produces equipment that enables remote sensing and identification of airborne chemicals and gases via sophisticated ultra-violet absorption spectroscopy systems. The equipment is used in a range of areas, including air quality management, where it can detect traffic pollution.
The company has close relationships with national and regional pollution monitoring bodies, with clients such as the US Environment Protection Agency (EPA), the Belgian EPA, Rotterdam Harbour and Shanghai Environmental Monitoring Center, via distributors in Europe and China. Duvas also operates in the oil and gas and industrial sectors and its equipment also has applications for use by the security and emergency services. The investment will enable the company to expand in to the US market and grow its geographic footprint.
Shoosmiths corporate partner Emma Gibson led the deal with support from Nina Smith, corporate associate.
Paul Clark, non-executive director of Duvas Technologies, said: 'Shoosmiths took the time to learn about our business and we were impressed by their diligence throughout. It was important for us to find the right legal expertise on such an important transaction, and Shoosmiths delivered for us.
'The technology developed by us is playing a vitally important role in helping to detect and monitor harmful pollutants. Tighter regulation is driving growing demand for this technology and this investment from Calculus Capital will enable us to further expand into the US market, as well as focus on new geographies.'
Shoosmiths' Emma Gibson, said: 'It was a pleasure to have advised Duvas Technologies on an important investment which will help to grow the business and wish them every success in the future.'
Nationally, the corporate team is ranked in joint first place by deal volume in Experian's UK Deal Review and Advisor League Table. The team was recognised for its mergers and acquisitions expertise at the 2015 M&A Awards, winning the Law Firm of the Year category.