Foresight invests £2m into Merseyside-based Fieldway Supplies

MANCHESTER, 30 October 2018: Foresight Group LLP (“Foresight”) announces the £2 million investment into Merseyside-based Fieldway Supplies Limited (“Fieldway” or the “Company”).

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Fieldway is a leading quality provider of fire alarm and electrical installation, maintenance and repair services to a wide range of public-sector bodies and companies across the North West. Fieldway primarily services Housing Associations but also provides merchant services, compliance services, project management and shop fitting services to the retail and leisure industry.

Established by Brian Murphy in 2006 Fieldway has experienced strong organic growth in recent years and currently employs 35 engineers. Some of Fieldway’s best known customers include Transport for Greater Manchester, Onward Homes, Your Housing Group and Plus Dane Housing.

Tony Carden, Fieldway’s Business Services Director, will step up to Managing Director with Brian Murphy remaining as CEO.  The investment focus will be on helping the business scale by executing on tenders won through the recently signed FUSION 21, Procure Plus and Re:Allies framework agreements.  Fieldway is recognised as a specialist in the electrical installation and maintenance services sector, a market which is seeing rapid growth with customers seeking to improve fire safety across their estates.

Stephan Gueorguiev, Senior Investment Manager, Foresight, commented: “We have been very impressed with the level of organic, profitable growth Fieldway has been able to achieve to date.  The recently signed framework agreements position the business well for future growth and we look forward to working with Brian, Tony and the team to support Fieldway’s expansion both geographically and introducing additional services.”

Remarking on Foresight’s investment, Brian Murphy, Founder and CEO, Fieldway, added: “We are delighted to be working alongside Foresight to further develop our offering and enhance our position in the marketplace. Foresight’s experience in supporting businesses and developing UK SMEs will be invaluable to the future growth of the business.”

Tony Carden, MD, Fieldway, commented: “I am excited to be working with Foresight in my new role. The company is growing rapidly, and we welcome their additional support to continue the business’s expansion plans”

The investment into Fieldway is split equally between the Foresight Regional Investment LP Fund (“FRIF”) and the Foresight Nottingham Fund (“FNF”).

ENDS

 

For further information contact:

Ben Thompson, Group Marketing Director, bthompson@foresightgroup.eu / 020 3667 8155

 

NOTES TO EDITORS:

Advisers:

Legal adviser (Foresight): Rebecca Grisewood, Kate Richards and Mike Murphy of Gateley

Financial due diligence: BDO

Commercial due diligence: RPL

Management due diligence: Catalysis Partners

Management advisers: Jerry Scriven and James Curtis, MC Vanguard and Matt Noon and Phil Wallbank of Hill Dickinson

 

About Foresight Group LLP ("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 30 years.

Foresight has more than £2.5 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 Property Relief (BPR).

Foresight’s Private Equity team, comprising 24 investment professionals, pursues four discrete but complementary investment styles: Venture, Impact, Growth and Replacement Capital through its growing regional office network.  

Foresight was voted ‘Best VCT Investment Manager’ at the 2017 Growth Investor Awards, having been previously awarded ‘VCT House of the Year’ at the 2016 Unquote British Private Equity awards.  Foresight was recently a shortlisted finalist in the 2018 Unquote British Private Equity Awards as Venture and Growth Capital House of the Year.

Foresight is headquartered in London with regional UK offices in Manchester, Nottingham, Milton Keynes, Leicester and Guernsey and international offices in Sydney, Rome, Seoul and Madrid.  

www.foresightgroup.eu

 

About Foresight Regional Investment Fund (FRIF):

The £58 million Foresight Regional Investment Fund is dedicated to making equity investments of up to £5 million in small and medium sized growth companies in the North West of England, North Wales and South Yorkshire. Foresight is focused on applying a professional approach to small cap private equity: working in partnership with management teams to grow their companies and create value for all shareholders.

Foresight Regional Investment Fund currently holds 13 portfolio companies, spread across the healthcare, retail, engineering, e-commerce and leisure. Since the Fund’s inception, FRIF has created 260 jobs in the region.

Foresight, on behalf of the Fund, is seeking to make investments into eligible businesses in the Region to support the growth plans and business opportunities that exist today and in the future.

For more information please visit: http://www.foresightgroup.eu/private-equity/foresight-regional-funds/the-regional-investment-fund/

 

About Foresight Nottingham Fund (FNF):

The £39 million Foresight Nottingham Fund is a dedicated regional growth fund that has been created to support small and medium sized companies in Nottingham and Nottinghamshire.

Foresight Nottingham Fund currently holds 22 portfolio companies, spread across sectors including the retail sector, technology, software analytics and education.

The Foresight Nottingham Fund is in part backed by the British Business Bank, a wholly owned plc of the Department for Business, Innovation and Skills, under their Enterprise Capital Fund programme in the UK.

Foresight on behalf of the Fund, is seeking to make investments between £100,000 and £2 million into eligible businesses in the Nottinghamshire region to support the growth plans and business opportunities that exist today and in the future.

For more information please visit: http://www.foresightgroup.eu/private-equity/foresight-regional-funds/foresight-nottingham-fund/