Foresight invests £4m in Itad

Mikkel Stern-Peltz
20 October 2015

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Foresight Group has invested ТЃ4m in Hove-based international aid monitoring and evaluation consultancy firm Itad.

The capital was tapped from the GP's four Foresight VCT vehicles, and will be used to fund Itad's growth strategy. Itad will focus on building its presence with UK clients, as well as growth in international markets and exploring the possibilities of expansion into new geographies.

Foresight's backing will see Julian Barr and Dane Rogers take on non-executive roles at the company, while John Dembitz will be instated as chair of Itad's board.

Company
Itad was founded in 1984 and provides consultancy services, monitoring and evaluation of the deployment and impact of international aid.

Headquartered in Hove, the company had revenues of £11m last year.

People
Matthew Smith is an investment director at Foresight. Tim Ruffer is a strategy director at Itad.

Advisers
Equity – RW Blears Solicitors (Legal); Crowe Clarke Whitehill (Financial due diligence); Catalysis Advisory (Operational due diligence).
Company – Meta Corporate Finance (Corporate finance); ASB Law (Legal).