Probe Test Solutions Ltd. raises funds for capex, acquisitions

Business news |
By Peter Clarke

Probe Test Solutions Ltd. (Glasgow, Scotland), a supplier of automatic test equipment probe cards, has raised US$30 million (about €30 million) from Paris-based Tikehau Capital.

Tikehau will take a minority stake in the company. Jordan Mackellar, CEO of PTSL who founded the company in 2009, will retain a majority stake in the company.

“We are extremely excited with the investment from Tikehau Capital, an endorsement of the PTSL team’s exceptional performance in recent years and our future growth strategy. This is the first investment in PTSL since inception, and I’m happy to partner with the Tikehau team as we embark on the next phase of PTSL’s growth story,” said Mackellar, in a statement.

He added that the financial investment from Tikehau would enable PTSL to increase capital expenditure and consider making acquisitions

PTSL has an illustrious board of directors that includes Mark Tyndall, Alexander McCann with Jalal Bagherli as chairman of the board. These three were key leaders at Dialog Semicondutor plc prior to its acquisition by Renesas in 2021 (see Renesas completes €4.8bn acquisition of Dialog Semiconductor).

The same three are also working with Alexa Capital – Tyndall and McCann as partners, and Bagherli as an advisor – to address a gap in the midcap semiconductor financing advisory and M&A markets (see Former Dialog Semi execs head to M&A advisor).

“We look forward to working with Jordan and the wider PTSL team, leveraging our expertise and presence in key global markets to accelerate its international expansion and to help them execute their transition to being an industry benchmark on sustainability,” said Corinne Philipps, head of UK private equity activity for Tikehau Capital.

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Former Dialog Semi execs head to M&A advisor

Former Dialog CEO helps photonic AI startup raise $11.5 million

Renesas completes €4.8bn acquisition of Dialog Semiconductor


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