LONDON—Brompton Technology has announced that it has secured a £5.1 million ($6.2 million) investment from Connection Capital.
The investment grants Connection Capital a minority stake in Brompton.
The new capital will enable Brompton to expand its operations to meet rising demand in the film and TV industry for the virtual production technologies and to capitalize on growth in the live events industry for LED technologies.
“We are seeing unprecedented growth in demand for our cutting-edge, robust, tour and virtual production-ready LED video processing products from our core industry sectors, as well as a lot of exciting potential for our technology to be applied to new markets,” noted Richard Mead, Brompton Technology CEO. “Whilst our focus on quality and dedication to customer service will remain the same, Connection Capital’s investment gives us the ability to scale up rapidly to meet demand and address the new opportunities that are presenting themselves.”
“Brompton Technology is an excellent example of a successful business that pivoted, almost overnight, into virtual production for film and TV during the pandemic and is now emerging even stronger than before,” comments Miles Otway, partner at Connection Capital. “With its industry-leading technology, diversified revenue streams, talented management team and soaring demand for its products, Brompton Technology has a very compelling growth story that has really appealed to our private investor clients.”
Brompton also announced that alongside Connection Capital’s investment, Neil Gaydon, a highly experienced Non-Executive Chairman, will also join Brompton’s board.
Neil has a track record of successfully delivering growth in technology companies, including as CEO of Pace plc from 2006-2011, during which time Pace became the world’s largest provider of digital TV technologies to the Pay TV industry.
Gloss