Foresight backs Procam MBO

Foresight will invest £1.8m of equity and debt through Foresight VCT, Foresight 2 VCT, Foresight 3 VCT and Foresight 4 VCT, which will give the firm a minority stake in the business. Natwest, an existing Procam lender, also took part in the buyout by providing debt facilities to support the transaction.

The fresh capital will be used to accelerate the company's expansion, with plans to capture a larger market share by launching new facilities.

Foresight was introduced to Procam in December 2011. Negotiations started in December and took four months until closing.

Foresight backed the MBO to support Procam's geographic extension. The company is currently based in London and Manchester, but is looking to expand internationally.

Company
Headquartered in London, Procam provides camera equipment and crews to broadcasters, production companies and other organisations in the UK and internationally. It is an approved supplier for BBC and ITV.

Procam has additional facilities in Manchester and employs 70 people.

People
James Livingston is an investment director at Foresight. John Brennan is the managing director of Procam, while Clive Jones is the chairman.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Buyouts
• Now researching
• Support services
• United Kingdom
• Foresight Group