PTSL receives $30M investment from Tikehau Capital
The Glasgow-headquartered supplier of advanced ATE test hardware solutions has just closed a USD 30 million investment from Tikehau Capital. Now the company is looking to expand internationally.
Adding to the investment, Probe Test Solutions Ltd (PTSL) added four semiconductor heavyweights to its board. Jalal Bagherli, Mark Tyndall, Alex McCann, and Jacky McNulty, together with Corinne Philipps from Tikehau Capital, are all joining the board, with Jalal Bagherli appointed as chairman.
The USD 30 million investment is made via Tikehau Capital’s pan-European growth impact private equity strategy. This strategy is focused on providing partnership capital to high-growth, purpose-led companies that are deemed "critical to the resilience of the European economy".
“This financial investment is a massive vote of confidence in the company, our people and the strategy. The investment will enable PTSL to accelerate its innovative advanced technology roadmap, positioning the company ahead of ATE industry trends and strengthening our ability to make significant Capex investments to support our planned growth,” says Jordan Mackellar, CEO of PTSL, in a press release.
Through this partnership, Tikehau Capital will provide the Scottish company with the operational and strategic support needed to accelerate its international expansion – this also includes acquisitions in the ongoing consolidation of the semiconductor market.
“PTSL is an opportunity that comes along ever so rarely. It has an incredibly talented team who are determined to continue their growth and market share gains in the ATE industry while creating new job opportunities in Scotland and beyond. Furthermore, I am grateful to Jordan for selecting me as the chairman and I look forward to supporting the company’s strategy together with this new team of directors,” adds PTSL's new Chairman Jalal Bagherli.