25th Jun 2014 11:20
LONDON (Alliance News) - Dunedin Enterprise Investment Trust PLC Wednesday said it has made an initial GBP5.9 million investment in EV Offshore Ltd through the Dunedin Buyout Fund III.
EV, which is based in Aberdeen and Norwich, designs, manufactures and provides video cameras that are used to diagnose and analyse problems in oil and gas wells.
"EV has a significant technological competitive edge operating in a predominantly untapped global market. We see a clear opportunity for the business to broaden its product and service offering and in turn deliver significant additional growth," Shaun Middleton, managing partner of Dunedin, the manager of Dunedin Enterprise, said in a statement.
Dunedin Enterprise shares were Wednesday quoted at 428.60 pence, up 1.2%.
By Samuel Agini; [email protected]; @samuelagini
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