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• £5 million investment for expansion

  06/03/2014

  SPEX is pleased to announce that BGF, an investment firm backed by five major banks, has invested £5 million in the company.

  BGF will hold a minority stake in the business and its investment director Mike Sibson will take a place on SPEX's board. 

  Sibson said the investment was a "great fit" for BGF as "SPEX has built an excellent position based on a unique set of skills, and has exceptionally strong engineering capabilities. It has an ambitious team with a vision to build an international business."

  The investment will be used to boost the development of our tools and to recruit personnel with a view to expanding the company's international presence. 

  SPEX CEO Jamie Oag said "The financial support from BGF can speed up our response, allowing us to invest in people, tools, and manufacturing equipment while allowing SPEX to maximise the potential of existing technologies that the company believes will be transformational for well control." 

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