Palatine Growth Credit’s Growth Credit Fund has completed a deal to provide growth capital to tech businesses Talion, a BAE Systems spin-out.
Headquartered in Wakefield, Talion provides defence industry-grade cyber security services to large corporates around the world.
Employing security, information and event management (SIEM) technology and a designated Security Operations Centre (SOC), it offers end-to-end cyber services including threat detection and response, dark web tracing and sensitive data storage.
The business was originally established as BAE Systems’ Cyber Security Unit, set-up at the request of the UK Government to provide critical infrastructure protection for the 2012 Olympic games. In 2020, Talion was formed through a management buy-out led by Keven Knight and Mike Brown. It has grown to annual revenues of £7.5 million.
Palatine are providing the business with £3 million of growth credit to support Talion’s organic growth and team expansion. The business also has VC backing from Mercia Asset Management.
Ryan Sorby, Partner and Head of North at Palatine Growth Credit, said: “Talion has an exceptional product which provides a best-in-class, end-to-end cyber security for a high-profile and distinguished client base.
“Cyber security is a competitive and growing market and Talion is a genuine front runner focussing on continuous product innovation and exceptional client service.
“We’re thrilled to have completed Palatine Growth Credit’s first deal in West Yorkshire.”
Mike Brown, CEO at Talion, said: “Talion is thrilled to have Palatine’s support as we look to increase our headcount further and accelerate our growth within the cyber security industry.”
Palatine received legal support from Anna Robson and the team at Shoosmiths.
