<ul>
<li style="font-weight: bold;">The Fund has been launched with a cornerstone investment from Devon Pension Fund</li>
<li style="font-weight: bold;">The Fund will support the growth of small and medium sized companies (“SMEs”) across the South West of England</li>
<li style="font-weight: bold;">The Fund is evergreen, providing a permanent pool of patient capital around which SMEs can make long-term plans</li>
<li style="font-weight: bold;">Foresight to open offices in Exeter and Bristol</li>
</ul>
Exeter, 20th November 2024: Foresight Group (“Foresight”), a leading FTSE 250 listed private equity and infrastructure investment manager, has announced the launch of an evergreen fund dedicated to investing into growing companies, across all sectors and transaction types, throughout South West England (“the Fund”).&nbsp;
Cornerstoned by Devon Pension Fund, the Fund will target smaller equity investments in established, promising companies with growth potential across the South West of England, including Bristol, Cornwall, Devon, Dorset, Gloucestershire, Hampshire, Oxfordshire, Somerset and Wiltshire.&nbsp;
Throughout the South West, the Fund will support growing companies to achieve their business ambitions, support their local economy, and deliver positive social outcomes by creating high-quality, local jobs. It will invest into a broad range of sectors, across the full range of transaction types including buy-outs and equity release, always with the objective of supporting companies to grow and achieve their business ambitions.&nbsp;
The Fund is designed to be evergreen, providing a permanent pool of capital around which SMEs can make long term plans. The Fund is both flexible and will support the South West for the long term, tailoring investments to meet the needs and plans of each company. Foresight will establish a local team working as part of Foresight’s larger Private Equity team, which are based in offices across the UK and Ireland. Offices to support the deployment of this Fund will open in Bristol and Exeter.
Foresight manages a number of regionally focused Private Equity and Venture Capital funds dedicated to growing companies across the UK and Ireland. The strategy has proven successful, delivering societal benefits alongside good economic returns in structurally underserved regional markets. This Fund will replicate the successful strategy already deployed elsewhere in the UK and Ireland, which to date has created thousands of jobs.&nbsp;
Devon County Councillor, James Morrish, Chair of the council’s Investment and Pension Fund Committee, which oversees the administration of the Devon Pension Fund, said: "We are delighted that the Devon Pension Fund is investing in a fund that will support local businesses and providing local jobs, whilst still delivering the investment return we need to meet our liability to pay pensions."
Matt Smith, Partner at Foresight Group, commented: “We are delighted to launch a fund dedicated to the South West of England with support from Devon Pension Fund. We look forward to embedding ourselves in the local community and supporting growing companies across the region. &nbsp;Our investment approach is to work collaboratively with entrepreneurs and the broader local business community. We look forward to providing further updates on this exciting fund.”
Foresight has a track record of supporting companies across the South West. Recently, Foresight invested £5 million into innovative children’s nursery and soft play provider, Family Adventures Group. Since investment, Family Adventures Group has won multiple industry awards and is set to create a significant number of jobs as it plans to open multiple new sites.
From its offices located throughout the UK and Ireland, Foresight invests in growing companies across a wide range of sectors and transaction types. With a collaborative approach, its team brings much more than investment to the companies it supports. By sharing operational insights, guidance and strategic connections, it enables growing companies to achieve their business ambitions.
ENDS
Contacts&nbsp; Chris Barry, Influential: Barry@thisisinfluential.com / +44 (0)7733 103 693 Lucy Sherwood, Foresight Group: marketing@foresightgroup.eu / +44 (0)20 3667 8100

Foresight announces £50 million first close of a new fund dedicated to growing companies across the South West

Clarity:&nbsp;While it might not get much attention, from a financial services and advice perspective, one of the key takeaways from the budget is that we now have some clarity over the tax planning landscape. There has been several years of speculation regarding possible changes in tax policy, from the abolition of inheritance tax to “taxing you until the pips squeak”, all of which made it difficult to plan with confidence. The arrival of this budget gives the industry some much needed clarity and should give clients and advisers the confidence to act.
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Tax Rises: The rise in employers National Insurance contributions (NICs) does much of the heavy lifting for the £40bn of additional tax revenue, but it is the changes to inheritance tax that will be most profoundly felt on a personal basis. Some of the most important changes were:
<ul>
<li class="MsoNormal">Nil Rate Band (NRB) and Residence Nil Rate Band (RNRB) frozen to 2030 (increased from 2028): Though this is easy to overlook given the NRB has been frozen since 2009, the fiscal drag this creates will mean the trend of inheritance tax falling on the mass affluent will continue to the end of the decade, at least.</li>
<li class="MsoNormal">Unspent Pensions will form part of the estate for IHT purposes from April 2027: In a reverse of the changes made in the 2015 Pensions Review, unspent pensions will once again be taxable to IHT. This is substantial as The Institute for Fiscal Studies estimates that 42% of household wealth is held in pensions meaning many who had no IHT problem pre-budget have one now.</li>
<li class="MsoNormal">Business Relief (BR) and Agricultural Property Relief Allowance (APR) introduced: From April 2026, everyone will have a combined BR and APR allowance of £1m which will benefit from 100% IHT relief. Any balance above £1m will benefit from IHT relief at a rate of 50%. Importantly, the allowance is not transferable meaning investors must use it or lose it.</li>
</ul>
From April 2026, all qualifying AIM shares will benefit from 50% relief regardless of their value.
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Taken together, these changes are expected to make an additional 10,000 estates liable to inheritance tax while a further 40,000 estates will have additional inheritance tax to pay, raising additional tax revenue of £2.3bn per annum by 2029/30.
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Dilemmas
The final takeaway from the budget are the planning dilemmas it creates. The disparity between the IHT relief available on Unquoted stock (100%) vs. AIM shares (50%) will lead some to question what they should do with existing AIM portfolios. Anyone who decides to switch will have a dilemma regarding the timing of such a switch as there is no change to the relief available prior to April 2026, but waiting until then will mean the replacement asset will only benefit from 100% relief when it has been held for a further two years. A transfer before April 2026 would benefit from 100% relief immediately (assuming shares were fully qualifying when transferred).
Those holding pensions as an estate planning tool also have a dilemma, particularly where they are considering taking PCLS and using this to reduce their IHT bill. As pensions remain exempt from IHT to April 2027, there will be a temptation to delay. However, given the clock does not start ticking on the alternative estate plan, be that a two year or seven year clock, delay might come at the cost of effective planning, i.e. the investor might die before the four year or nine year period created by the delay has expired.
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As the complexity of these decisions has increased so has the need for effective planning and with so many estates ‘inheriting’ a tax problem or finding their problem is larger than it was on October 29, the value of financial advice is at a premium.&nbsp;
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This post offers information on our understanding of the Autumn budget. Foresight does not provide financial, legal, investment or tax advice, and therefore readers should seek specialist independent tax and financial advice for further information regarding this post. Tax treatment is subject to change and depends on individual circumstances. Tax year 2024/25. The information in this post constitutes our understanding as of the date of publication and is subject to change without notice.

Autumn Statement October 2024

<ul>
<li style="font-weight: bold;">TES provides mission critical water and power technology engineering expertise</li>
<li style="font-weight: bold;">TES plans to accelerate further growth and enhance its global client base</li>
<li style="font-weight: bold;">In the past two years, Foresight has opened offices in Belfast and Dublin, alongside announcing two funds dedicated to growing companies across the island of Ireland</li>
<li style="font-weight: bold;">To date, Foresight has invested some £35 million into growing companies across the island of Ireland&nbsp;</li>
</ul>
BELFAST, 05 November 2024: Foresight Group (“Foresight”), a leading regional private equity and infrastructure investment manager, has announced a significant minority investment into Northern Ireland’s TES Group (“TES” or the “Company”), a long established, manufacturer and distributor of high-performance power distribution and monitoring systems. &nbsp; &nbsp; TES was founded in 1999, by Brian Taylor, CEO, and Noel McCracken, Managing Director, to provide water and power technology engineering expertise, specialising in critical infrastructure markets.&nbsp;
Since its inception, TES has grown rapidly, becoming recognised as one of the fastest growing companies in the UK and Ireland. The group services clients throughout the UK, Ireland, Europe and internationally, from its state-of-the-art office and manufacturing facility in Cookstown, Co. Tyrone and via the TES Power Data Centre campus in Co. Derry. This new facility was launched by TES in 2022, to provide over 300,000 sq. ft. of additional manufacturing capacity, helping it to meet increased global demand for its products and services.&nbsp;
Amongst TES’ major current client instructions are an eight-year Framework Contract that will see TES deliver water and wastewater non-infrastructure projects throughout the Thames Water region; a large-scale power distribution unit project to help deliver a new 40MW data centre development in Milan, Italy; and a contract to supply the LV power distribution equipment for a new 57MW data centre in London.
TES holds an enviable position in both the water and power markets, built on a market leading reputation for levels of quality and service delivery. With Foresight’s backing, TES is pursuing continued growth and will leverage its capabilities and expert team to win new clients. The Company currently employs 187 employees and has generated compound annual revenue growth of 27% over the last four years. Following on from the launch of the Co. Derry Data Centre campus, the Company has experienced a rapid expansion in headcount and will continue to invest in its facilities and talent, supporting job creation in its operating regions.
As part of the investment, James Peacock has been appointed as the new Chair. James brings vast experience of growing businesses operating within critical infrastructure, with over 20 years of experience as a Managing Director and CEO at some of the fastest growing companies within the UK. As part of James’s new role with TES he will oversee the strategic direction of the Company and support the executive team as they seek to accelerate growth.&nbsp;
Brian Taylor, CEO of TES, said: “Foresight is the perfect investment partner to help propel our company into the next phase of its growth journey. They recognise and support our ambitions and bring a wealth of experience to bear around catalysing the growth of innovative, technology-led, client-service focused businesses. With Foresight’s backing, we look forward to building upon our international presence and delivering large-scale global projects with unmatched efficiency and quality.”
Noel McCracken, Managing Director of TES, commented: “We are thrilled to partner with Foresight, a firm that shares our vision for revolutionising critical infrastructure through technology and innovation. Their commitment and track record of supporting ambitious companies to scale makes them the ideal partner to fuel our next chapter of growth. With their support, we are poised to expand our reach, accelerate product development, and solidify our position as a leader within our markets.”
Graeme Mckinstry, Investment Director at Foresight, added: “Not only is TES one of the fastest growing UK and Irish companies, it has also been repeatedly recognised as one of Ireland’s best managed businesses. As a result of its market-leading expertise and capabilities, TES has experienced a period of rapid growth and we are delighted to support the Company as it embarks on what is bound to be another impressive expansion phase.”
With offices in Belfast and Dublin, Foresight has over £100 million to invest into growing companies across the island of Ireland. To date, it has invested some £35 million into companies across a range of sectors and transaction types throughout Northern Ireland and Ireland. Earlier this year, Foresight successfully exited Northern Ireland-based private hospitals group, Kingsbridge Healthcare Group, after supporting a sustained period of growth and job creation – where it increased employees to over 1,000 across 11 hospital sites.&nbsp;
Foresight invests in promising growing companies, providing equity or debt to meet the needs of founders, management teams and specialist lenders wherever they are on their funding journey. Foresight works with the growing companies it supports to enable founders and management teams to build resilient and prosperous companies that have a positive impact on the societies in which they operate.&nbsp;
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&nbsp;
ENDS
Notes to Editors
&nbsp;
For more information contact:
&nbsp;
Lucy Sherwood: <a href="mailto:marketing@foresightgroup.eu">marketing@foresightgroup.eu</a><span style="mso-bidi-font-size: 10.0pt; line-height: 120%; mso-ascii-font-family: 'Hanken Grotesk'; mso-fareast-font-family: 'Hanken Grotesk'; mso-hansi-font-family: 'Hanken Grotesk'; mso-bidi-font-family: 'Hanken Grotesk'; color: #242424; mso-themecolor: text1;">&nbsp;/ +44 (0)20 3667 8100 
Chris Barry: <a href="mailto:Barry@thisisinfluential.com">Barry@thisisinfluential.com</a> / +44 (0)7733 103 693

Foresight announces significant investment into Northern Ireland’s TES Group

<ul>
<li style="font-weight: bold;">With Foresight’s investment, the speciality coffee brand grew from 6 to 21 sites across the Midlands, Yorkshire and the North West</li>
<li style="font-weight: bold;">More than 180 jobs created in the investment period</li>
</ul>
&nbsp;
NOTTINGHAM, October 2024: Foresight Group (“Foresight”), a leading listed regional private equity and infrastructure investment manager, has successfully exited 200 Degrees Coffee (“200” or the “Company”), the speciality coffee brand.
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Founded in 2012 by Rob Darby and Tom Vincent, the Nottingham headquartered company partnered with Foresight in 2017 when it secured finance from Foresight’s fund focused on Nottinghamshire. 200 Degrees is well known for its speciality artisan coffee and its unique shops.
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The investment supported 200’s expansion across the UK, developed the Company’s growing wholesale business and helped launch an online offering selling direct to consumers. At the time of investment, 200 operated 6 shops, employing 78 people.
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Under Foresight’s guidance, 200 Degrees grew to 21 stores and expanded its regional footprint across the Midlands, Yorkshire and the North West, creating more than 180 jobs since initial investment, taking the total number of employees to over 270 at exit. The team was supported by highly experienced industry Chairperson, Paul Campbell.
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Sustainability and community support were central to 200 Degrees growth ambitions. The Company partnered with a regional Nottingham based charity, Switch Up, which supports children and young adults from disadvantaged backgrounds, with £1 donated for every kilo of coffee sold per year. The founders also took regular visits to its coffee suppliers to ensure the supply chain aligned with 200’s company values.
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200 is joining The Nero Group, a family-owned operator of more than 1,100 Caffè Nero stores across 10 countries, and the largest independent chain of coffee shops in Europe. The Company will continue to operate as a standalone brand.
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Jordan Lavender, Senior Investment Manager at Foresight Group, comments: “We are proud of the partnership with 200 Degrees and to have supported the Company through a period of significant regional expansion while maintaining 200’s commitment to sustainable growth. The Company has an excellent reputation and, by becoming part of The Nero Group, 200 will maintain its brand identity and have an excellent platform to achieve its ambitious expansion plans.”
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Rob Darby, Founder of 200 Degrees, commented: “We have thoroughly enjoyed working with Foresight, together we have achieved significant growth, opening 200 Degrees shops and expanding our customer base across the UK. Foresight’s support has been invaluable, and we now look forward to our next phase of growth.”
&nbsp;
Foresight provides growth and buyout funding to support founders, entrepreneurs and management teams to achieve their growth aspirations or release equity to reduce risk. It also invests venture capital funding into innovative, fast-growing companies in the enterprise software and deep-tech sectors that are looking to scale at pace. Foresight supports the companies it invests into to grow responsibly, and the firm invests regionally in growing companies to deliver strong economic and societal returns for all stakeholders.
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ENDS
&nbsp;
For more information contact:
Chris Barry, Influential: Barry@thisisinfluential.com / +44 (0)7733 103 693
Lucy Sherwood, Foresight Group: marketing@foresightgroup.eu / +44 (0)20 3667 8100

Foresight exits 200 Degrees Coffee through sale to Caffé Nero Group

Once two distinct financial markets, the lines between PE and VC are becoming ever-more blurred. PE firms are increasingly investing in early stage companies, and more VCs are adopting PE-style strategies with increased investment timeframes. But what are the implications of this convergence?
<a rel="noopener" href="https://www.foresightgroup.eu/about-us/our-people/private-equity/matthew-evans-young/" target="_blank">Matt Evans-Young</a>, senior investment manager in Foresight’s private equity team, joined Claire Cherry, principal at True, to explore this market phenomenon and its implications in an episode of the Real Deals: On Air podcast.
<h3><a rel="noopener" href="https://podcasts.apple.com/us/podcast/real-deals-on-air/id1473145728?uo=4" target="_blank" data-anchor="?uo=4">Click here to listen. </a></h3>
The opinions of speakers are not necessarily those of the Company.
<img src="https://media.umbraco.io/foresight/cbqju1r3/mey-pe.png" alt="" width="100%">

Exploring the convergence of Private Equity and VC

Click here to listen.

Latest News & Insights

Autumn Statement October 2024

Foresight announces significant investment into Northern Ireland’s TES Group

Foresight exits 200 Degrees Coffee through sale to Caffé Nero Group

Foresight announces £50 million first close of a new fund dedicated to growing companies across the South West

Autumn Statement October 2024

Foresight announces significant investment into Northern Ireland’s TES Group

Foresight exits 200 Degrees Coffee through sale to Caffé Nero Group

Foresight announces £50 million first close of a new fund dedicated to growing companies across the South West

Autumn Statement October 2024

Foresight announces significant investment into Northern Ireland’s TES Group

Foresight exits 200 Degrees Coffee through sale to Caffé Nero Group

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