Private equity firm sells stake in renewables expert

Private equity firm Foresight Group has exited Nottingham-based, Mercia Power Response (MPR) after almost four years.

MPR is a developer and manager of peaking power assets which supports the renewable energy industry.

Foresight made its initial investment in September 2015 and says it has worked with MPR’s chief executive Graham White to leverage more than £60m of capital.

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.”

White added: “Foresight’s support over the last four years has been essential to thecompany’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 MPR were advised by Squire Patton Boggs and Skye Corporate Finance.