Deep6 float hoves into view

Broker Seymour Pierce is seeking to raise up £20 million for latter-day treasure hunter Deep6, which plans to use the cash to identify and recover high-value refined metals from deep-water shipwrecks, predominantly in the Atlantic.

Headed by Graham Jessop – whose father Keith located the sunken HMS Edinburgh in the Arctic Ocean and went on to salvage its cargo of gold bullion – Deep6 has set its sights on recovering non-ferrous metals from the wrecks it discovers.

The group is reported to have compiled a database of over 200 possible locations on which it will centre its attentions and will spend the money raised on flotation to help upgrade its existing Deepworker salvage vessel and invest in further equipment.

Further details of the fundraising have yet to be confirmed although a likely starting market valuation of around £50 million has been suggested.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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