Foresight completes first investment from East of England Fund and opens Cambridge office

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  • £5.0 million investment into Peterborough-based McIntyre Electrical, a leading provider of fire and electrical safety services
  • First investment from the £100 million Foresight East of England Fund
  • The office at 50/60 Station Road, Cambridge will act as the Fund’s investment hub for Foresight’s local team including recently appointed Matt McLoughlin

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Cambridge, 24 February 2020: Foresight Group (“Foresight”) announces the first investment from its East of England Fund, supporting the Buy-in Management Buyout of McIntyre Electrical Limited (“McIntyre Electrical” or the “Company”) and the opening of its new office in Cambridge.

McIntyre Electrical is a leading provider of safety-critical fire and electrical inspection and maintenance services, primarily for housing associations. Based in Peterborough, McIntyre Electrical was established by Joe McIntyre and John Clifford in 2006 and today employs 158 people. John Clifford will remain involved in the business together with Joe’s daughter Sarah Salmon and her husband Chris Salmon, both longstanding members of the McIntyre Electrical team. The Company has experienced a period of rapid growth, doubling revenues since 2018 while developing national coverage. As part of the investment, Martin Gammon and Jesse Holgate will join the Company as Chairman and Chief Financial Officer, respectively. They will work closely with the existing management team to support the continued growth of the company.

The newly opened Foresight office at 50/60 Station Road, Cambridge, is part of the exciting central CB1 estate. The office will be the base for Foresight’s local team including Matt McLoughlin, Senior Investment Manager. Matt was recruited to work as part of the broader Foresight Private Equity Team, with a focus on the recently launched Foresight East of England Fund. The Fund is focused on private equity investments into SMEs based in the East of England and beyond. Cornerstoned by the Cambridgeshire Pension Fund, the Fund is an evergreen patient pool of capital targeting investments of up to £5.0 million in growing companies.

The Foresight East of England Fund forms part of Foresight’s proven strategy focused on supporting SMEs and delivering value by addressing a gap in regional funding markets. The Cambridge team will be supported by their colleagues in London, Nottingham, Manchester, Milton Keynes, Leicester and Edinburgh.

Commenting on the investment, Stephan Gueorguiev, Senior Investment Manager at Foresight, said: “We have been very impressed with the scale and national footprint the team at McIntyre Electrical has been able to achieve while undergoing a period of rapid, profitable organic growth.  We look forward to continue growing the business while delivering a high quality customer service.”

Martin Gammon, Chairman, McIntyre Electrical, said “Joe, John, Sarah and Chris have done a tremendous job building McIntyre Electrical to the scale it is today.  I’m excited to join as Chair and help continue to build on the Company’s successes.”

Paul Tysoe, Investment Manager, Cambridgeshire Pension Fund, adds “McIntyre Electrical is a great example of the type of established, local business that the Fund was set up to support. Having demonstrated consistent growth in recent years, we are looking forward to seeing this Peterborough-based company continue its growth with Foresight’s support. The completion of this investment is well timed with the opening of Foresight’s Cambridge office, which demonstrates Foresight’s long-term commitment to the region.”

Advisers included

Financial Due Diligence: Price Bailey

Legal Due Diligence: Mills Reeve

Commercial Due Diligence: RPL

Management Due Diligence: Catalysis Advisory

Vendor Advisors: KBS Corporate Finance




For more information contact:


Ben Thompson, Foresight Group: / +44 (0)20 3667 8155

Notes to Editors


About Foresight Group (“Foresight”)

Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 35 years.

Foresight has £4.7 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs) and Inheritance Tax Solutions using Business Relief (BR).

Foresight’s Private Equity team, comprising 28 investment professionals, pursues four discrete but complementary investment styles: venture, impact, growth and replacement capital through its growing regional office network.

Foresight was named ‘Fund Manager of the Year’ at the PLC Awards 2018, ‘Generalist VCT of the Year’ at the Investment Week Tax Efficiency Awards 2018/19 and was a finalist in the 2018 Unquote British Private Equity Awards as Venture and Growth Capital House of the Year.  In 2017, Foresight was voted ‘Best VCT Investment Manager’ at the Growth Investor Awards, having been previously awarded ‘VCT House of the Year’ at the 2016 Unquote British Private Equity awards.

Foresight has an office in London with regional UK offices in Cambridge, Manchester, Nottingham, Milton Keynes, Leicester, Edinburgh and Guernsey and international offices in Sydney, Rome, Madrid and Seoul.