Foresight invests £5m in McIntyre Electrical, opens in Cambridge

The McIntryre investment is the first from the East of England fund, a £100m evergreen vehicle that invests up to £5m in a single company. Cambridge Pension Fund was a cornerstone investor in the fund, which closed in September 2019.

As part of the investment, Martin Gammon and Jesse Holgate will join McIntyre Electrical as chairman and chief financial officer, respectively.

In conjunction with the announcement, Foresight has announced the opening of a new office in Cambridge. Senior investment manager Matt McLoughlin, who was hired as part of the private equity team, has a focus on the East of England fund and will work in the firm's Cambridge office.

Company
Based in Peterborough, McIntyre Electrical was established by Joe McIntyre and John Clifford in 2006, and today employs 158 people. It provides inspection and maintenance services for potential electrical and fire hazards, primarily for housing associations.

People
Foresight – Stephan Gueorguiev (senior investment manager).

Advisers
Equity – Price Bailey (financial due diligence); Mills Reeve (legal); RPL (commercial due diligence); Cataysis Advisory (management due diligence).
Vendor – KBS Corporate Finance (corporate finance).

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