Retail petroleum payment and loyalty solutions specialist HTEC unveiled a new brand image at a special event to celebrate a significant restructure within the Southampton-based organisation, and a "fresh start for the future".

CEO Paul Cooper revealed that in the past six months the group had been totally refinanced, with existing debt restructured and just under £3m raised in operating capital to invest in the company’s future.

"We have taken a long hard look at the business and have been busy developing product strategies and development plans for all areas of our business," he said. "One of the first things we have done has been to restructure and divisionalise the existing HTEC business into four business units - retail; international and loyalty; IT; and manufacturing.

"HTEC has always been quietly there in the background, developing solutions for our customers and providing market-leading technical firsts, but we have not been particularly brave in promoting that fact - that will change," stressed Cooper.

HTEC is one of Europe’s largest providers of payment and loyalty solutions for the petroleum retailing industry with 3,500 petrol stations in the UK using its equipment. Customers include Exxon Mobil, Malthurst, Morrisons and Snax 24.

The company has also recently completed the installation of its HyraPOS epos software into Murco Petroleum’s Costcutter-branded forecourt convenience stores.