Coffin Mew has advised global information security firm MWR InfoSecurity and its shareholders on a multimillion pound investment from the Environmental Technologies Fund.
The investment is to address increasing cyber security challenges faced by the smart energy sector. MWR, the only independent company in the UK Government’s Cyber Incident Response (CIR) scheme, has a dedicated team of incident responders and cyber defence consultants constantly helping some of the UK’s largest companies address the latest cyber security threats.
The investment will enable the company to develop its existing software products and services and invest in specialist research on the threats faced by the growing smart energy sector. It will also support MWR’s well-established work in other key areas and protect critical assets such as information networks and systems within the financial and government sectors.
Ian Shaw, Managing Director of MWR InfoSecurity, said: “One area that is becoming increasingly important to us is the energy sector, as we strive to help utilities and infrastructure providers secure their networks, smart grids, remote energy generation facilities, smart meter and home automation sites. We are building on our experience in areas such as smart grid technologies that enable a more energy efficient future, but at the same time bring new challenges in terms of security.” Shaw added: “The Environmental Technologies Fund has solid ethical credentials, which are in line with our approach. Our core business is to help our leading corporate customers ensure that they are well protected as we seek to address their security challenges. That will continue to be our focus.”
Rob Genieser, Partner with the Environmental Technologies Fund said, “With this new financing, MWR will have the resources to bring to the market a number of new products in the rapidly evolving security sector, based on the unparalleled understanding of their clients’ needs. Building off a strong existing customer base, we are very pleased that the company will devote substantial resources to tackle security issues that arise from the new green and distributed energy network.” As part of this investment, Rob Genieser and Fabrice Bienfait from the Environmental Technologies Fund will join the Board of MWR.
Nick Gross said of the transaction:
I have been working with MWR since 2006 and have enjoyed watching them grow, so it is great to see them attracting a substantial investment to enable them to push forward with their business both in the UK and overseas. It was a pleasure, as always, to work with Ian Shaw and his team.
Chairman of Board of MWR, Peter Webber, said in relation to Coffin Mew’s services:
On behalf of the Board of MWR, and its shareholders, I would like to thank Nick Gross and the rest of the Coffin Mew team for their excellent and professional work on our transaction. They were as mindful of the commercial aspects as well as the legal details. They established a good working relationship with the investor’s legal team which made the negotiations amicable and efficient. We have worked with Nick and Coffin Mew for 8 years and look forward to continuing our relationship as we go forward.
Elizabeth Davies of Taylor Wessing providing legal advice to ETF.
About MWR InfoSecurity
MWR InfoSecurity was established in 2003 and has grown to become one of the world’s leading cyber security providers. The firm expanded to South Africa in 2008 with offices in Johannesburg and now employs over a hundred people, including some leading specialists in their fields. It provides consultancy services to leading companies around the world in different areas, from mobile payments security to cyber defence and digital forensics. The company specialises in identifying, managing and mitigating Information Security risks, and undertakes simulated attacks with organisations to help them understand the issues they are facing.
For further information see: www.mwrinfosecurity.com