Foresight invests £2m into Fieldway Supplies
Foresight Group has invested £2m into Merseyside-based Fieldway Supplies, a provider of fire alarm and electrical installation, maintenance and repair services to a wide range of public-sector bodies and companies across the North West.
Fieldway primarily services housing associations, but also provides merchant services, compliance services, project management and shop fitting services to the retail and leisure industry.
Established by Brian Murphy in 2006, Fieldway has experienced strong organic growth in recent years and currently employs 35 engineers.
The company is based at Paramount Business Park in Huyton, Knowsley.
Some of Fieldway’s best known customers include Transport for Greater Manchester, Onward Homes, Your Housing Group, and Plus Dane Housing.
Tony Carden, Fieldway’s business services director, will step up to managing director with Brian Murphy remaining as chief executive.
The investment focus will be on helping the business scale by executing on tenders won through the recently signed FUSION 21, Procure Plus and Re:Allies framework agreements.
Fieldway is recognised as a specialist in the electrical installation and maintenance services sector, a market which is seeing rapid growth with customers seeking to improve fire safety across their estates.
Stephan Gueorguiev, senior investment manager, Foresight, said: “We have been very impressed with the level of organic, profitable growth Fieldway has been able to achieve to date.
“The recently signed framework agreements position the business well for future growth and we look forward to working with Brian, Tony and the team to support Fieldway’s expansion, both geographically and introducing additional services.”
Brian Murphy, founder and CEO, Fieldway, added: “We are delighted to be working alongside Foresight to further develop our offering and enhance our position in the marketplace.
“Foresight’s experience in supporting businesses and developing UK SMEs will be invaluable to the future growth of the business.”
Tony Carden said: “I am excited to be working with Foresight in my new role. The company is growing rapidly, and we welcome their additional support to continue the business’s expansion plans.”
The investment into Fieldway is split equally between the Foresight Regional Investment LP Fund and the Foresight Nottingham Fund.
Advisers included: Legal adviser (Foresight) Rebecca Grisewood, Kate Richards and Mike Murphy of Gateley.
Financial due diligence: BDO.
Commercial due diligence: RPL.
Management due diligence: Catalysis Partners.
Management advisers: Jerry Scriven and James Curtis, MC Vanguard, and Matt Noon and Phil Wallbank of Hill Dickinson.
