• Investment will support J+S Subsea to achieve its ambitious plans, growing both internationally and into adjacent sectors
• Two senior hires have been appointed to help drive growth
• To date, Foresight has invested over £58 million into companies located across Scotland 

Edinburgh, November, 2024: Foresight Group (“Foresight”) a leading regional private equity and infrastructure investment manager, has announced an investment into J+S Subsea (“J+S” or the “Company”).

Headquartered in Dyce, Aberdeen and tracing its origins back to 1959, J+S is a subsea engineering company specialising in the provision, repair and refurbishment of subsea control systems. The current management team led a management buy out to acquire J+S in 2020. Since 2020, significant growth has been achieved with revenue more than doubling and the Company being named as one of Scotland’s fastest growing companies in 2024.

Foresight’s investment will support the highly experienced existing management team to expand the current service offering and grow in adjacent, high-potential markets both domestically and overseas. 

To support the current management team, two experienced senior hires have been appointed. Mark Patterson joins as Non-Executive Chair, and Andrew Glen, as CFO; each bring significant international and adjacent sector experience to support the Company’s next phase of growth.

Phil Reid, CEO, of J+S Subsea, said: “We are delighted to partner with Foresight Group, a firm that shares our vision for supporting the UK’s commitment to net zero by promoting sustainability within the subsea industry. Foresight’s investment will support J+S Subsea in continuing to deliver on its growth strategy by working on exciting opportunities within the subsea engineering market, both in the UK and further afield. We are excited for the next chapter of J+S Subsea’s journey.”

Ryan Finesy, Investment Manager at Foresight Group, commented: “This investment represents an opportunity to support an experienced and high calibre management team who have achieved significant growth in recent years. We look forward to supporting J+S to continue its current growth trajectory within its core markets, alongside expanding overseas and into adjacent, value accretive sectors.”

This investment marks Foresight’s latest investment in Scotland, where it is partnering with entrepreneurs and management teams to achieve their business ambitions. To date, Foresight has invested over £58 million into companies located across Scotland. 

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.

ENDS

Advisers to the Company: 
Corporate Finance: AAB
Legal Advice: Addleshaw Goddard

Advisers to Foresight:
Financial and Tax DD: Hutcheon Mearns & Azets
Legal Advice: Anderson Strathern 
Commercial DD: Calash
Management DD: Confidas
Insurance DD: Vista
Cyber DD: Third Party Cyber Security
Recruitment : Boyden

Notes to Editors

For more information contact:

Lucy Sherwood: marketing@foresightgroup.eu / +44 (0)20 3667 8100 
Chris Barry: Barry@thisisinfluential.com / +44 (0)7733 103 693