Foresight Group (Foresight), the independent alternative asset manager and private equity house, is pleased to announce that two of its private equity portfolio companies, Evance Wind Turbines (Evance) - the Loughborough-based small wind turbine manufacturer and Autologic Diagnostics (Autologic), the Oxford-based car maintenance software provider, featured in this week’s Sunday Times Tech Track supplement of the hundred fastest growing private companies in the UK.
Evance ranked fourteenth in Tech Track 2012 having posted sales growth of 144% in the year ended March 2012 on revenues of £7.2 million, while Autologic posted sales of £15 million to end December 2011, representing growth of 39% on 2010, ranking it 94th. In early 2012, Autologic implemented a secondary Management Buy Out, with Foresight retaining a minority shareholding and loan position.
Foresight has built a strong track record in supporting fast growing companies across a wide range of sectors, several of which have featured previously. In 2010, portfolio company The Bunker was ranked 48th, while four portfolio companies, Ixaris, Adeptra, Camwood and AppDNA, appeared in Tech Track 2011, with the latter three all having been successfully sold on within the past year, most notably AppDNA, the application migration software company which was acquired by Citrix for $92 million, a return multiple of 32x on original investment.
Foresight’s Private Equity focus is providing between £1 million and £5 million of equity finance in MBOs, BIMBOs and growth capital for smaller UK companies in transactions with an enterprise value of up to £20 million. The team seeks to invest in robust and profitable businesses with strong, experienced management teams, with a flexible approach to creating the right structure for each opportunity.
For further information, please contact:
Ben Thompson: firstname.lastname@example.org / +44 (0)20 3667 8155
Notes to Editors
Foresight is an independent specialist private equity, environmental and infrastructure equity investor, which focuses primarily on investments in unquoted UK and European companies or projects and offers investors exclusive access to attractive income and growth opportunities.
Foresight has in excess of £650 million assets under management across a number of funds, including Limited Partnerships, Enterprise Investment Schemes (EIS) and Venture Capital Trusts (VCTs).
Amongst its VCT portfolio, Foresight has recently successfully closed fundraisings for Foresight Solar VCT at £38m and Foresight Solar EIS at £27.5m and £33m for its unique Infrastructure VCT Shares, an innovative new share class which targets investments in energy generation projects and secondary PFI.
Foresight manages the most successful VCT ever, Foresight VCT which has returned more than 1.8x original investment in dividends to its investors.