Partner Article

Foresight doubles up with successful exits

• Investments realised in video wall innovator Datapath (11.7x) and R&D tax specialist GovGrant (4.5x)

• Datapath and Govgrant represent two of four successful exits over the last three months for Foresight, with an average return of 5.7x money invested

London, 4 April 2023: Foresight Group LLP (“Foresight”), a leading infrastructure and private equity investment manager, has announced two successful exits on the same day, with the sales of Datapath Group Limited and Innovation Consulting Group Limited.

Video wall innovator Datapath, a Derby based company which has seen significant sales and international growth under Foresight’s investment, generated an 11.7x return for investors. While Innovation Consulting Group, which trades as GovGrant and is a leading research and development tax specialist, generated a 4.5x return.

Datapath, a market leader in the design and development of video wall, multiscreen displays and control room solutions, has seen its revenues grow from £7 million to £25 million over the course of the investment period.

GovGrant, which is based in St Albans, Herts, is a leading innovation tax specialist, helping its clients secure benefits from Government-backed innovation incentives in the UK. To date, the Company has secured over £300 million in research and development and patent box tax relief for its customers. Foresight’s investment has supported GovGrant through its significant growth phase, helping to build the existing management team which will remain under the new ownership. It has been acquired by Source Advisors, a specialist tax advisory firm based in Fort Worth, Texas.

Foresight continues to be one of the most active investors in smaller companies, having completed more than 90 investments in 2022 alongside a number of exciting exits. In the same year, Foresight’s private equity team announced three new funds, the acquisition of Downing’s ventures business and expanded its regional office network, opening offices in Dublin and Leeds. So far in 2023, Foresight’s private equity division has announced another new fund and further expansion is planned.

Matt Smith, Partner, Co-Head of Private Equity at Foresight, said: “It’s rare to announce exits on the same day and we are very pleased with the growth and progress made by both Datapath and GovGrant over their investment periods. Both businesses are now well-placed to make significant developments in their respective markets. We wish them and their management teams every success for the future.”

This was posted in Bdaily's Members' News section by John Robson .