- Fourth successful exit for Foresight’s Private Equity Team in 2021
- 2.5x money returned to Foresight funds
- Foresight supported Poppy & Jacks growth from four to ten nurseries
Click here to view the announcement as a PDF
London 27 July 2021: Foresight Group (“Foresight”), a leading infrastructure and regional private equity investment manager listed on the London Stock Exchange, is pleased to announce the successful sale of Poppy & Jacks Limited (“Poppy & Jacks” or “the Company”), a market leading children’s nursery chain in North West England.
Poppy & Jacks was sold to Kids Planet Day Nurseries Limited (“Kids Planet”), a national nursery chain, backed by BGF. Kids Planet will be an excellent partner, supporting the Company’s development and the continued provision of an outstanding home from home environment across all nurseries.
Since its original investment in March 2016, Foresight has taken a proactive approach to supporting the senior management team, introducing Chairperson Tracey Fletcher and growing the number of nurseries from four to ten across Nottinghamshire and the North West. Poppy & Jacks also more than doubled its workforce, from 90 to over 200, during the same period. Alongside this, Ofsted ratings improved significantly with all nurseries rated either Good or Outstanding. This is a real credit to management and the whole team.
This successful exit returns £5m to Foresight funds, 2.5x its initial investment.
Poppy & Jacks is the fourth successful realisation by Foresight’s Private Equity team during 2021, including 3.1x return on Mologic, a point of care diagnostics and contract research company, a 4.3x return on FFX and a 5.6x return on Hedges Direct, both leading ecommerce businesses. Foresight has also completed 28 new investments over the last 12 months, cementing its position as one of the most active SME investors in the UK market.
Sarah Bellamy, CEO of Poppy & Jacks, said: “Over the last few years, Poppy & Jacks has successfully grown through acquisition with the support of Matthew, Tracey and the team at Foresight. They have helped professionalise the business, providing valuable insight from other portfolio companies and core SME knowledge. Without Foresight, Poppy & Jacks would have not been able to grow so quickly or find the perfect home for the Poppy & Jack’s portfolio.”
Matthew Pomroy, Director at Foresight, added: “It’s been great to work with Sarah and the wider team at Poppy & Jacks, supporting the acquisition strategy and helping it become one of the highest quality nursery chains in the North West. We wish Kids Planet every success for the future with Poppy & Jacks as part of their business.”
Foresight and the other shareholders were advised by Mazars (corporate finance advice) and Napthens (legal counsel).
For more information contact:
Citigate (PR to Foresight):
Patricia De Bidegain: email@example.com / +44 (0) 7921 353 825
Will Easton: firstname.lastname@example.org / +44 (0) 7860 753146
Notes to Editors
Foresight Group was founded in 1984 and is a leading infrastructure and private equity investment manager. With a long-established focus on ESG and sustainability-led strategies, it aims to provide attractive returns to its institutional and private investors from hard-to-access private markets. Foresight Group manages over 300 infrastructure assets with a focus on solar and onshore wind assets, bioenergy and waste, as well as renewable energy enabling projects, energy efficiency management solutions, social and core infrastructure projects and sustainable forestry assets. Its private equity team manages five regionally focused investment funds across the UK, supporting over 100 SMEs. Foresight Group operates from 12 offices across six countries in Europe and Australia with AUM of £7.8 billion as at 30 June 2021. Foresight Group Holdings Limited listed on the Main Market of the London Stock Exchange in February 2021. https://www.fsg-investors.com/