Real Assets
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- Fire safety and compliance specialist more than tripled revenue during Foresight’s investment period, and expanded materially its footprint and capabilities
- Business broadened its geographical coverage, with employee numbers more than doubling to c.100, and strengthened public sector positioning
- Foresight continues to demonstrate its commitment to local SMEs throughout the UK, with c.£2bn to deploy from its 14 regional offices. This is the third strong exit in the last 3 months, following TES in Northern Ireland and FIS Chemicals in Scotland, which both returned 4x money
- Exit marks the 12th realisation from Foresight Regional Investment Fund, the first in Foresight’s Regional Investment Series, which has delivered an average return of 4.2x invested capital across realised investments
Foresight Group (“Foresight”) a leading regional private equity and real assets investment manager, has announced a successful exit from Fieldway Group Limited (“Fieldway” or “Company”), the UK-based fire safety and compliance specialist predominantly serving the social housing sector. The transaction delivers an attractive return on investment to Foresight.
Fieldway has been acquired by Axis CLC Group Limited (“Axis CLC” or “Group”), a national leader in critical property compliance and maintenance services. From regular compliance inspections, planned and responsive maintenance to decarbonization, Axis CLC delivers comprehensive, reliable services for landlords and critical infrastructure owners across the UK. The Group is backed by H.I.G. Capital, a leading global alternative investment firm with $75bn of capital under management.
Since Foresight’s initial investment in 2018, Fieldway has scaled into a multi-regional platform. The Company holds preferred supplier status on 13 national and regional procurement frameworks and, whilst maintaining its strong core in social housing, has expanded into the healthcare and education sectors.
Fieldway was founded in 1999 by Brian Murphy to provide fire safety and compliance services to the public sector, with a focus on quality and customer service. During the investment period, Foresight supported the ambitious management team, led by Managing Director Tony Carden, to scale the platform and strengthen its operational capability. Over this period, the Company delivered strong operational output, servicing or maintaining more than 40,000 properties, completing over 3,400 annual call-out visits and installing nearly 25,000 fire alarms. Fieldway’s leadership team continues with Fieldway following the transaction.
Reflecting Foresight’s commitment to supporting sustainable growth, Dave Murray joined as non-executive Chair, bringing experience of scaling businesses through geographic expansion. Fieldway embedded ESG principles across its operations, supporting both performance and competitive positioning. The business committed to ambitious Net Zero targets and implemented a carbon reduction plan, delivering emissions reductions alongside cost savings. It also invested in apprenticeships and training, achieving a 100% conversion rate into full-time roles, while maintaining strong employee engagement and customer satisfaction.
The exit marks the 12th realisation from Foresight Regional Investment Fund, the first fund in Foresight’s Regional Investment Series, which has delivered an average return of 4.2x invested capital across realised investments. This demonstrates how Foresight enables the founders and management teams it supports to build resilient and prosperous companies that deliver strong economic returns and to have a positive impact on the societies in which they operate.
Fieldway was advised by EY and Hill Dickinson.
Fiona Hatch, Investment Director and Sustainability Lead at Foresight Group, commented: “Led by a high performing management team, Fieldway is a strong example of Foresight’s commitment to scaling high-quality businesses while embedding sustainability at the core of operations. The Company has established itself as a strong national fire and safety contractor and a trusted supplier known for its quality and delivery. It has been a pleasure to support the business throughout its impressive growth journey. We wish its dedicated team every success under new ownership and are confident the business will continue to thrive.”
Brian Murphy, founder and co-owner of Fieldway, commented: “Over the past 27 years, Fieldway’s belief that it could always do things better has taken the business from a regional specialist to a multi-regional platform built on quality, expertise and a strong sense of responsibility to the communities it serves. Partnering with Foresight has been a pivotal chapter in that journey, helping Fieldway scale the business, strengthen the processes and maintain the values that define the company. We are grateful for their collaborative approach and the role they have played in helping professionalise the business while preserving its entrepreneurial culture. Joining Axis CLC represents an exciting next step for Fieldway and creates further opportunities for its people and customers.”
Foresight has recently launched its third dedicated North West Fund Since the first regional fund for the North West was raised in 2015, Foresight has backed more than 30 companies in Greater Manchester, Merseyside, Cheshire, Lancashire and North Wales, helping to create more than 2,000 jobs.
