Foresight sells Channel to Newbury Investments

The value of the deal was not disclosed - Foresight was however awarded with an aggregate consideration of £1m. When combined with the disposal of Channel's fire and security installation and maintenance division in October 2014, the exit has generated a 2x money return and an IRR of 22%.

Previous investment
Foresight backed the management buy-in of Channel in December 2010, investing £1.13m to support the purchase of the company from its previous owner and managing director, Dave Green, according to unquote" data. At the time of the investment, Chanel was generating revenues of £8.5m and employed 60 people.

Company
Channel manufactures lighting, fire detection, door entry, CCTV and disability assistance products, which it sells predominantly on a wholesale basis.

Established in 1976 and based in Petersfield, the company's products are sold in more than 1,000 wholesale branches throughout the UK.

People
James Livingston is a director at Foresight. Peter Mazalon is managing director of Channel.

Advisers
Vendor - Keystone Law, Andrew Stilton (Legal).

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• Exits
• UK / Ireland
• Foresight Group