Foresight Group LLP (“Foresight”) is pleased to announce the successful exit of Nottingham-based, Mercia Power Response Limited (“MPR” or “The Company”), generating a return of 3.8x on the original investment for its Foresight Nottingham Fund.

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MPR is a market leading developer and manager of peaking power assets. With a growing portfolio of close to 200MW, MPR is supporting the UK’s transition away from large scale fossil fuels to embedded renewable power.

Foresight made its initial investment in September 2015. Since then the Foresight team has worked closely with founder and CEO, Graham White to leverage more than £60m of capital, supporting the development of the Company’s pipeline of assets. MPR has built a market leading team of industry experts and technical engineers.

MPR will continue its growth over the coming years, taking advantage of the significant opportunities currently available in the market.

Commenting on the transaction, Matt Smith, Partner at Foresight Group said:

“It has been a pleasure working with Graham and his team, establishing the Company as a leader in the sector. The company is well positioned to accelerate growth over the coming years.”

Graham White, CEO of MPR added:

“Foresight’s support over the last four years has been essential to the Company’s development and growth to become a market leader in the sector. Foresight’s ongoing involvement, mentoring and engagement in the business has been a key factor in the Company’s success. This deal marks an exciting new chapter for MPR and we look forward to continued rapid growth as demand for embedded power to support renewable power sources continues apace in the UK and across Europe.”

Foresight and the Company were advised by Squire Patton Boggs and Skye Corporate Finance.