Russell-Cooke's corporate team has advised Moulton Goodies Limited as lead investor in a £1.7million investment in Pyreos Limited, a Scottish supplier of thin film pyroelectric sensors.

Moulton Goodies Limited is an investment entity based in the family office of the venture capitalist Jon Moulton.

Pyreos' sensors are primarily used for gas and flame sensing, food safety and monitoring oil and fuel in engines. The unique technology was originally developed by Siemens, from which Pyreos was spun out in 2007. 

Corporate partner Guy Wilmot, assisted by associate Maeve O'Hare, advised on the investment agreement and ancillary documents and liaised with firms and in-house lawyers acting for other investors participating in the round and assisted with completion arrangements.

The transaction was complicated by an unusual share capital structure and a large number of shareholders, including institutional, employee, and government shareholders. Existing shareholders included Seraphim Capital, London Business Angels, Robert Bosch Venture Capital GmbH, the Scottish Investment Bank (the investment arm of Scottish Enterprise) and Siemens Technology Accelerator.

Guy said "Our reputation for acting for recipient companies in equity investment funding is well known, but this transaction demonstrates our increasing involvement investor-side."