Maven on point for £4.6m deal

MAVEN Capital Partners (Maven), the Aberdeen-based private equity manager specialising in the energy services sector, is leading a £4.6 million deal that will bring IT firm ISN Solutions to Scotland with entrepreneur Tom Smith in the chair.

Tom Smith, centre, joins David Greenwood, right, and Derek Munro. Picture: Contributed

ISN Solutions, which specialises in the upstream oil and gas industry, has so far concentrated on clients south of the Border but the investment will see it open an office in Aberdeen.

Smith, who sold his oil and gas telecoms firm Nessco in 2012 for around £31m, will join the business as chairman on a mission to support the company’s growth strategy.

ISN managing director David Greenwood said: “We have ambitious growth plans which will be backed by the extensive experience and resources of Maven.”

Smith said the firm was “clearly a leading player in the field of IT systems and support to the oil and gas sector”.