Investment from

Rickitt Mitchell Advises BiSN on £3.2m Fundraise

- Growth deal

- August 2014

- Value: £3.2M

BiSN established by Paul Carragher in Daresbury

Rickitt Mitchell invested in BiSN and is advising on strategy

£3.2m of equity raised from Conoco Philips, Schlumberger, ETV

Client Background

BiSN is the global leader in innovative metal-to-metal downhole sealing solutions for the oil and gas industry. Established in 2010, BiSN operates manufacturing and assembly facilities in both Runcorn, UK and Houston, Texas. With a focus on game-changing technology, research and development, the company also undertakes specialist alloy development from its own UK-based laboratory.
Using modified thermite heaters, BiSN’s unique technology reduces the heating time required for metal-to-metal sealant from hours to minutes, whilst eliminating the need for specialist wireline equipment, or restriction on deployment depth.

Rickitt Mitchell Advises BiSN on £3.2m Fundraise

The Outcome

Rickitt Mitchell advised the company on a fundraise which resulted in £3.2m of equity raised from Conoco Philips, Schlumberger, ETV.

BiSN has moved their head office to Houston, Texas USA Where they have established a 30,000 sq.ft. facility, whilst maintaining their manufacturing and assembly site in Runcorn UK.

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“Rickitt Mitchell has been a trusted advisor to BiSN since 2014 and have helped guide the company through a period of rapid and dynamic growth. Both the company and I continue to rely on the instrumental advice provided by Rickitt Mitchell as we further develop and commercialise our industry leading technology.”

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