Foresight invests £4m in FFX

The investment was made through the VC's VCT funds, namely Foresight VCT, Foresight 2 VCT and Foresight 4 VCT. Entrepreneurs Patrick Ker and Tim Horrell invested alongside Foresight and will join management in developing the company, while George Adams joins FFX's board as chair.

With the fresh capital in hand, FFX will focus on continuing its growth, having doubled its revenues since 2012. The cash injection will fund new product ranges, improved marketing and expansion into a new distribution centre.

Earlier this week, Foresight Group made another £4m investment, backing Hove-based international aid monitoring and evaluation consultancy firm Itad. The GP said another deal is likely to happen before the end of the month.

Company
Founded in Folkestone in 2003, FFX is a supplier of hand and power tools, and building products such as fixings, accessories, fasteners and general building supplies.

People
Foresight Group director James Livingston led the deal.

Advisers
Equity – WK Corporate Finance (Financial due diligence); Meta Corporate Finance (Corporate finance); RW Blears (Legal); Neovian Partners (Commercial due diligence); Cappco Partners (Operational due diligence); Catalysis Partners (Management due diligence).

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