• TES provides mission critical water and power technology engineering expertise
• TES plans to accelerate further growth and enhance its global client base
• 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
• To date, Foresight has invested some £35 million into growing companies across the island of Ireland 

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.  
 
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. 

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. 

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. 

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. 

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. 

 

 

ENDS

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