06/02/2013

Finance Wales takes equity stake in KWR Technologies Group

Finance Wales has made a £250,000 equity investment in Bridgend-based software company, KWR Technologies Limited (KWR). This is Finance Wales’ third investment in KWR and it will enable KWR’s subsidiary, Accelero to complete the development of - and then launch - its ground-breaking EnGenero software development tool.

The new software tool has attracted significant interest and has already been adopted by a number of blue-chip organisations.  EnGenero has the potential to reduce the development times and costs of developing business software substantially for dedicated software houses and in-house software development teams in larger companies.

EnGenero was originally developed as an internal tool to speed up the Group’s software development processes.  The Group’s management then recognised its market potential and sought an investment partner to provide the investment capital it needed to maximise the opportunity.

Group Managing Director Kelvin Jones explained: “EnGenero, a proven platform we have developed and adopted over a number of years has been taken to a new level with a workflow application that greatly increases its flexibility. This software engineering tool will allow the creation of architecturally complex applications for multiple platforms such as Android, Blackberry and Apple mobile devices, Microsoft Windows and Apple OSx. We are focussed on pursuing the huge potential market and we are delighted Finance Wales agree with our strategic thinking.

“Finance Wales has consistently supported us as we’ve grown.  We’ve already benefitted from two loans – their second loan helped us to move to larger premises in 2011.  This investment clearly demonstrates Finance Wales’ continued backing.  They have a great deal of expertise in investing in businesses like ours and we welcome this as it  gives us another perspective on how to take our business forward.  In time, this may also include the appointment of a non-executive director.”

KWR employs 20 staff and is currently looking to recruit two more senior programmers.

Ann Casey, Investment Executive in Finance Wales’ Technology Venture Investments team explained its decision to invest another round in KWR:  “Accelero came up with EnGenero to improve its own software development processes.  The company’s experienced management team then spotted an opportunity to turn EnGenero into a product to help other companies develop high-quality software more quickly.  Finance Wales has backed KWR with three investments and our latest investment will enable it to complete the development of  EnGenero and then take it to market.”

KWR’s turnover in the 2012 – 13 financial year will have grown by 100% since 2010.

KWR is the holding company of Accelero Digital Solutions (Accelero) and a major shareholder in the digital interviewing platform Tazio, Paveway Performance and a number of progressive Joint Venture projects.