Cyber-security expert Falanx lands up to £2.5m investment from BOOST&Co
Reading-based global intelligence and cyber-defence provider Falanx Group has secured a £1m initial investment from independent asset manager and alternative lender BOOST&Co to strengthen its core division and support growth through acquisitions. The investment by BOOST&Co in AIM-listed Falanx is expected to rise to £2.5m.
Falanx has a long track record of providing organisations with comprehensive cyber-defence, intelligence and technology to deliver targeted threat prevention. It offers specialist services in cyber-security monitoring, cyber-security penetration testing, business and strategic intelligence consulting and political risk forecasting and analysis. It works with critical national infrastructure as well as on behalf of the UK government.
The group's cyber-security division reported strong trading in the first four months of 2021/22, and Falanx Assynt, the company’s strategic intelligence division, recently signed a £1.2m contract with one of the world’s largest technology firms. Falanx Assynt was recognised by Chambers & Partners in its 2021 rankings as one of five firms in its top tier of global geopolitical risk providers.
BOOST&Co said it chose to invest in the group because Falanx is operating at the forefront of the fast-developing cyber-security and intelligence sectors. Joanna Scott, Managing Director at BOOST&Co (pictured), said: “The company’s innovative services, strong management team, solid customer relationships, growing order book and market alignment leave the business very well placed to capitalise on growth opportunities in the near future.”
Mike Read, Chief Executive at Falanx, said: “Our much-improved trading, particularly in our core cyber-security division, combined with a growth loan from BOOST&Co, puts us in a strong position to exploit the major opportunities ahead, through either organic investment or earnings-enhancing acquisitions. Our progress in cyber and the expanding contract base in our Assynt strategic intelligence division underpin our plans for growing equity value."
BOOST&Co is a provider of growth capital for innovative, fast-growing UK SMEs. The independent asset manager, which offers loans of £2m to £10m, covers all sectors, with a strong track record in TMT (technology, media and telecommunications). The lender has offices in London, Manchester, Bristol, Cambridge, and Cape Town, with additional dealmakers in Birmingham, Reading and Leeds. It manages funds on behalf of large institutional investors, including insurance companies and pension funds.
