Foresight completes Aquasium partial exit

The partial exit generated a £2.7m return for Foresight VCT, launched in 1997. Foresight remains an investor in Aquasium.

Previous funding
In 2001, Foresight invested £1.9m to complete the management buy-in of Aquasium.

Company
Aquasium is a technology-focused holding company with a buy-and-build strategy in the broad technology sector.

In 2005, Aquasium acquired EBTEC Corporation from the Smiths Group. EBTEC, an electron beam welding company, was founded in 1963 and supplies major aerospace and industrial companies. The firm has developed technologies for laser welding, laser cutting, laser drilling and waterjet cutting.

People
Andrew Shannon is investment manager at Foresight.

Advisers
Vendor - Nixon Peabody (Legal); Consilium Partners, Richard Briggs (Corporate finance).
Acquirer - Robinson & Cole (Legal).

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