How our Strategic Corporate Finance team supported Foresight Group LLP in its investment into McIntyre Electrical Limited to facilitate a management buy-out

Price Bailey’s Strategic Corporate Finance (SCF) department, have supported Foresight Group LLP (Foresight) in its investment into McIntyre Electrical Limited (MEL) to facilitate a management buy-out (MBO).

MEL is a provider of safety-critical fire and electrical inspection, maintenance and monitoring services primarily undertaking work with housing associations. Foresight has invested £5 million into MEL through a combination of shareholder loan and equity investment.

This investment is the first from Foresight’s £100m East of England Fund which is focused on private equity investments into SMEs based primarily in the East of England, corner-stoned by the Cambridgeshire Pension Fund.

SCF carried out financial due diligence reporting focusing on historical trading, working capital position and financial projections. This provided assurance to Foresight on the recent performance of the business and also on the assumptions underpinning the financial model prepared by MEL’s management. The SCF team reported on key findings identified throughout the course of the project.

Stephen Reed, Strategic Corporate Finance Partner at Price Bailey said; “We are delighted to have assisted Foresight on another of their investments as they add to their investment portfolio. In particular, we are pleased to have helped get this, the first deal of the East of England Fund, over the line and we hope to provide support to Foresight on future investments from the fund across the region.”

Stephan Gueorguiev, Senior Investment Manager at Foresight commented: “We are really pleased to have completed our investment into MEL. I would like to thank Stephen and his team for their flexible approach and for the support they provided throughout the deal.”