Foresight invests £1m in Alpkit

Foresight drew capital from its £39m Foresight Nottingham Fund, which is backed by Nottingham City Council Pension Fund and Nottinghamshire County Council Pension Fund. It is also backed by the British Business Bank.

HSBC provided an undisclosed amount of debt.

Prior to the deal, Foresight Nottingham Fund was 74% deployed, according to Unquote Data. The fund has invested in a variety of sectors including software, recruitment and diversified industrials.

Alpkit will use the funding to boost its online presence and grow online sales as well as open new stores in the UK. It aims to boost its headcount by 40 over the next three years.

Company
Founded in Nottingham in 2004, Alpkit is an outdoor equipment retailer with 60 staff. It opened its first two stores in the last two years in the Lake District and Peak District.

People
Foresight – Ben Dawson (senior investment manager).
Alpkit – David Hanney (CEO).

Advisers
Equity – Browne Jacobson (legal); Mazars (corporate finance).
Company – Austin Moore Law (legal): BHP Corporate Finance (corporate finance).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• Foresight Group
• United Kingdom