Penningtons Manches Cooper advises Connected Safety Net on latest investment to fuel digital innovation and transformation

Posted: 15/11/2023

The corporate team at Penningtons Manches has advised Connected Safety Net, a high growth B2B SaaS provider, on its investment from Andy Bell, former CEO, and Fergus Lyons, former Investcentre managing director, of AJ Bell PLC.

Connected Safety Net, based in London, was formed in 2019 and focuses on improving safety cultures in businesses by simplifying the data capture process. Since launch, it has seen success in the UK and international markets, and continues to scale quickly across a range of sectors. Connected Safety Net has developed two innovative B2B SaaS platforms on proprietary technology. The first solution enables the live capture of critical incident data for accidents, incidents, near-miss reporting and investigations. The second is an award-winning product enabling companies to dynamically manage carbon measurements and cost reductions through an AI-driven online portal. 

The investment will allow the business to invest in the sales and marketing function to capitalise on its strong foothold in the environment, health and safety market and expand its existing customer base. It continues to build its product set and invest in further expanding the platforms functionality, and also aims to build a strategy to access the SME market.

The Penningtons Manches Cooper team advising Connected Safety Net was led by corporate partner Richard Wrigley, with support from senior associate Lindsay Chadwick and associate Jennifer Ford. The wider team included support from corporate tax associate Leonie Langley, commercial managing associate Edmund Forey, senior associate Nora Pook and associate Thomas Kirby, and employment senior associate Charissa Upton.

Paul Richardson, managing director at Connected Safety Net, commented: “Connected Safety Net has been on a fantastic growth trajectory, forging transformative partnerships with some of the most distinguished brands in the market. We have left an indelible mark by showcasing how the digitisation and automation of safety compliance and automated digital sustainability can truly revolutionise modern businesses. The commitment from Andy and Fergus will expedite our global expansion, allowing us to bring our game-changing platforms to new geographies worldwide. I’d like to thank Richard and the team at Penningtons Manches Cooper for their expertise, advice and support in the completion of this critically important investment for the business.”

Richard Wrigley, corporate partner at Penningtons Manches Cooper, said: “We are delighted to have advised Connected Safety Net on its latest investment which will continue to fuel the digital innovation and transformation that Connected Safety Net are well known for. We look forward to continuing to support them as they continue their growth journey.”

Alex Stewart, who leads the corporate finance team at Cortus Advisory Group, acted as lead adviser to the shareholders of CSN.

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