<ul>
<li>Founded more than 20 years ago Martek Marine is a key supplier of products for ship safety, performance and crew welfare &nbsp;</li>
<li>Market-leader with operations in the UK and APAC region</li>
<li>Acquisition from listed James Fisher and Sons plc will unlock growth with experienced new Chair appointed to support CEO Karen Bedford on achieving strategic growth plan&nbsp;</li>
</ul>
10 September, 2024: Foresight Group (“Foresight”), the leading listed infrastructure and regional private equity investment manager, has today announced an £8 million investment in the management buyout of Martek Marine Ltd (“Martek” or “the Company”) from listed group James Fisher and Sons plc. &nbsp;
Martek Marine is a leading and trusted supplier of safety, performance and crew protection equipment to the global shipping industry. Headquartered in Rotherham, Yorkshire, it has a team of 60 people in the UK and in Singapore. &nbsp;&nbsp; &nbsp; Founded in 2000, the Company has supplied more than 30,000 pieces of equipment to major ship operators based around the world. Products include a range of portable and fixed gas detection systems, defibrillators and water testing solutions. Martek is an expert at interpreting the complex matrix of maritime regulations. Twice a winner of the prestigious Queen’s Award for Enterprise and a holder of the ISO 9001 international quality benchmark, Martek has a strong market reputation and a loyal customer base. The Company provides guidance on health and safety requirements and delivers frictionless global fulfillment. &nbsp;
Foresight, which is one of the most active investors into growing companies across the UK and Ireland, will be supporting CEO Karen Bedford and the management team at Martek to achieve its ambitions as a standalone business.&nbsp;
With a strong track record of supporting business growth, Foresight will help Martek capture opportunities and fulfil its potential. Experienced business leader Nick Alexander has been appointed as the Company’s new Chair.&nbsp;
Nick Mettyear, Investment Director at Foresight Group, comments: “Martek Marine demonstrates all the qualities we look for when investing in a business. The Company has a dynamic management team, sells excellent products and has a deep understanding of the complex regulatory environment in the sector. This enables Martek to deliver a market-leading service to its customers.&nbsp;
“We are pleased to be supporting Karen and the team who are driven, focused and have unrivalled knowledge of the sector. We look forward to working with the team to unlock the growth opportunities.”&nbsp;
Karen Bedford, Managing Director of Martek Marine, said: “In Foresight we have the perfect partner who shares our values and vision for the Company. Martek Marine sells innovative products, which offer sustainable solutions for ship safety, performance and crew welfare. We are excited to return to the agility of independent ownership and secure the backing of Foresight.&nbsp;
“We look forward to working with our new Chair, Nick Alexander, who has an excellent reputation and will play a pivotal role in the next phase of our journey. We now have a formidable team in place to achieve our growth aspirations.”&nbsp;
New Chair, Nick Alexander, added: "Martek Marine has pioneering solutions, a global client base, excellent regulatory understanding and a highly energised management team. The market provides considerable growth potential. I’m excited to work with Foresight again, taking on the role of Chair and working with the team to help realise their ambitions.”&nbsp;
Foresight invests in promising, growing companies, typically valued up to £50 million, across a wide range of sectors. With a collaborative approach, its team brings much more than investment to the growing companies it supports. Alongside Foresight’s four decades of investment experience, its team shares operational insights, guidance and strategic connections.
With offices located across the North of the UK, Foresight has already invested close to £30 million in growing companies across Yorkshire and the North East in 2024. Recent investments include Leeds University spin-out Cavero Quantum and Teesside electronics specialist Isocom Components 2004 Ltd. &nbsp; &nbsp; &nbsp; Advisers to Foresight: &nbsp; Financial Due Diligence by Cortus Advisory Group Limited Legal Due Diligence in progress through Browne Jacobson LLP Commercial Due Diligence by Baringa Partners LLP Management Due Diligence via Confidas People Limited Insurance Due Diligence by Vista Insurance Brokers Limited &nbsp; Advisers to the vendor:&nbsp; Vendor Due Diligence and Legal Support by Deloitte LLP

Foresight backs management buyout at award-winning maritime services company Martek Marine

Foresight supports management buyout at Martek Marine

<ul>
<li>Following years of outflows from UK equity funds across the market cap and sector spectrum, the attractiveness of domestic public market valuations is becoming too hard to ignore for investors with a long-term focus.</li>
<li>A renewed commitment from the new UK government towards infrastructure investment, decarbonisation and energy security ensures a runway for accretive investment opportunities for infrastructure companies.</li>
<li>With the evolving macro backdrop, bottom-up fundamental prospects of the sector and historically low valuations, investors should not overlook the attractive risk-adjusted return potential from the UK infrastructure sector.</li>
</ul>
&nbsp;
Looking back We last wrote to investors of the Foresight UK Infrastructure Income Fund (“FIIF”) in Q1 20241 and noted that “pessimism in the listed [infrastructure] sector appears to be at a near-term high and as a result, valuations are at or near all-time lows. Considering forward-looking returns, Foresight Capital Management (“FCM”) views the sector to currently be priced amongst the most attractively valued levels relative to its own history. There remain several near-term technical and fundamental catalysts that can unlock value and, in the meantime, we remain comforted by the fundamental performance of portfolio companies.” Following such bold statements, it is worth taking stock of where we currently stand and providing an update on the outlook. &nbsp;
 Following years of outflows from passive vehicles and actively managed UK funds across the market cap and sector spectrum, light may be appearing at the end of the proverbial tunnel. A recently published FT article2 reported the attractive relative valuation of the UK equities and noted that large investment houses are becoming increasingly positive on the region. Whether this will lead to the return of large-scale flows is yet to be seen, however it is increasingly evident that the pessimism towards UK Plc seems to be unwinding. As investors consider asset allocation decisions following years of momentum and narrow leadership of the US and technology/AI companies, the attractiveness of UK equity and infrastructure sector valuations are becoming too hard to ignore for investors with a long-term focus.&nbsp;
 Since we last wrote to investors, catalysts for the valuation disconnect to reverse across holdings in FIIF are increasingly stacking up. Fundamentals remain strong with companies continuing to deliver on capital allocation plans. Over 70% of portfolio companies have sold assets above book value at an average premium to Net Asset Value (“NAV”) of c.15% over the last 12 months3, a theme that is expected to continue and further broaden across the portfolio. Furthermore, all the top 10 companies in the portfolio are also conducting share buybacks or are about to commence return of capital to shareholders. In the background, asset performance and cash flow generation remain robust, supporting healthy dividend growth going forward. We have welcomed prudent capital allocation decisions being undertaken by portfolio companies and expect it to be value and ratings accretive over the medium term.
&nbsp;
The renewed commitment
From a policy perspective, the incoming Labour government has made strong commitments towards delivering healthcare, decarbonisation and energy security objectives while seeking business and private capital support. Initial policy decisions are much welcomed by the investor community following the previous government’s miss-steps however, fiscal prudence will be judged at the budget expected at the end of October. What is clear is that the new Labour government is showing a renewed sense of commitment towards industrial policy and is looking at supportive measures to crowd-in private sector investment to boost economic growth and address the country’s infrastructure needs.
A good example is the creation of the National Wealth Fund (“NWF”) which has £7.3bn of public capital ear-marked for high-risk investments that support the UK’s transition to a low carbon economy4. The initial investment priorities for NWF will be driven by an investment mandate allowing for greater risk-taking in nascent technologies across green steel, green hydrogen, industrial decarbonisation, gigafactories and ports. The focus on these sectors will support emissions reduction across Transport, Industry and Electricity Supply and more broadly support the eco-system required for large-scale infrastructure projects. When combined with Chancellor Reeves’ ambitions of reforming the UK’s pension model5 and support for innovative financing models for large-scale projects6, the wheels of mobilising capital and policy are being put into motion.&nbsp;
For the renewables sector specifically the new Labour government has also made strong commitments to support the continued build-out of clean energy generation capacity to ensure energy independence and lower household bills7. This includes the £8.3bn of public funding for GB Energy to roll out 20-30GW of offshore wind projects and to accelerate nuclear projects, removal of bans against onshore wind projects and an increase in funding for the next auction round of clean energy development projects by 50% to £1.56bn. The policy support for renewable generation development has direct implications for portfolio companies who are providers of capital in the sector, and which facilitate developer balance sheets. These developer vendors can subsequently build more projects in the sector and drive energy independence for the nation while enabling lower bills for households through a lower cost of generation. &nbsp;
&nbsp;
Looking ahead
As we roll through the second half of 2024, many will be surprised with how events have transpired versus expectations at the start of the year. Just over the last couple of weeks we have seen a dovish monetary policy tone from the Fed, as well as the Bank of England joining other European central banks in the descent from what seems like peak rates for the cycle following months of speculation over the direction of interest rates. Furthermore, over the last month we’ve had a new government take seats in the UK and France following elections being pulled forward in both countries, a “switch-a-roo” in the Democrat candidate in upcoming elections following near assassination attempt on Trump and a rise of tensions in the middle east. Taking a step back and looking at the bigger picture, at a time when geopolitical uncertainty is widespread the UK can boast some stability with a clean sweep from the Labour party and subsequent policy indications. &nbsp;
From a wider macro perspective, we are also seeing early signs of stability and a positive set-up for the broader infrastructure sector. Inflation coming under control with economies cooling and major central banks embarking on rate-cutting cycles will lead to lower pressures on company-level cost of capital, investor-driven portfolio rebalancing efforts and an improvement in the market’s perception towards defensive yielding assets. Combining the macro, the bottom-up fundamental prospects of the sector and historically low valuations, the setup for forward looking returns for FIIF is solid and we remain optimistic on the outlook.&nbsp;
The continued bifurcation in market cap between the winners and losers in the sector is validating our preference to own the higher quality companies, while the strong interest from private markets for infrastructure assets is evident through the marks on disposals from portfolio companies and mounting dry powder in private funds. FCM continue to anticipate a favourable fundamental and policy environment for the sector and expect the list of catalysts to positively drive forward looking performance for the Fund. With the Fund positioned increasingly towards growth opportunities, a starting dividend yield over 6% with dividends expected to grow over the next 12 months and c. 17% discount to underlying NAVs, FIIF remains well positioned to deliver as per expectations and FCM remain vigilant in taking advantage of future opportunities

Note to Investors: FP Foresight UK Infrastructure Fund ("FIIF") - August 2024

Note to Investors: FP Foresight UK Infrastructure Fund ("FIIF")

<ul>
<li>Private hospital group saw significant growth throughout the investment period and employee levels more than doubled</li>
<li>Kingsbridge helped ease pressure on NHS in Northern Ireland following post-pandemic operations backlog</li>
<li>Foresight is now ready to ramp up investment activity across the island of Ireland with new offices in Dublin and Belfast and more than £100 million to deploy</li>
<li>This exit is Foresight’s 12th in calendar year 2024, with an average return of 3.6x</li>
</ul>
Click <a rel="noopener" href="https://media.umbraco.io/foresight/srkn4gne/kingsbridge-foresight-press-release-final.pdf" target="_blank" title="Kingsbridge Foresight Press Release Final">here</a> to download the PDF version.
14 August, BELFAST: Foresight Group (“Foresight”), a leading regional private equity and infrastructure investment manager, has announced a successful exit from Kingsbridge Healthcare Group (“Kingsbridge” or “the Group”), the largest private hospital group in Northern Ireland.
&nbsp;
The exit to Exponent follows a strong period of sustainable growth following Foresight's initial investment in 2019 which has seen the Group expand significantly, now with over 1,000 staff across its four hospitals and 11 sites. 
&nbsp;
Founded in 2005 as 3fivetwo Healthcare, Kingsbridge now has four hospitals – three in Northern Ireland and a fourth in County Sligo in the Republic of Ireland.
&nbsp;
The Group offers patients a wide range of services including orthopaedic, cataract, urology and cosmetic surgeries. It operates dedicated clinics treating prostate conditions and sports injuries, private GP services and diagnostics including MRI, CT and ultrasound scans. Its hospital in Belfast recently opened an Intensive Care Unit which performs cardiac surgery and was the first to deliver this privately in Northern Ireland.
&nbsp;
During Foresight’s investment period, Kingsbridge significantly invested in its facilities and expanded from primarily orthopaedic surgeries into new services, now providing a wider range of general surgical procedures, a cardiac facility and diagnostics. Alongside expanding its site in Belfast and creating a diagnostic facility, the Group acquired the North West Independent Hospital in Ballykelly. Revenues more than doubled and EBITDA increased tenfold. In late 2021, the Group set up a charitable foundation which has donated several hundred thousand to local community good causes and small charities.
&nbsp;
Foresight has a strong track record of investing in healthcare. It recently announced its exit from ABL Health, a community-driven healthcare services provider, which returned more than 4.1x invested capital. In 2022, it announced its exit from MI Healthcare, a leading provider of service and maintenance of diagnostic imaging equipment, which also achieved 4.1x returns. Other examples of healthcare companies remaining in Foresight’s portfolio include, Hospital Services Limited, a specialist distributor of medical supplies and surgical equipment and consumable products; Hexarad, a teleradiology provider; and Homelink, a clinically led provider of safe, high-quality hospital at home and virtual ward services.
&nbsp;
James Livingston, Partner at Foresight Group, comments: “It has been a pleasure to work with Suresh and Ash, the founders of Kingsbridge, supporting them and the talented management team through a period of significant growth while maintaining the Group’s commitment to the highest standard of patient care, support and social impact. We wish them all the best for the next stage of its growth journey.
&nbsp;
“Foresight has a long track record of investing in growing companies across the UK and Ireland. We have recently underlined our commitment to supporting businesses across the island of Ireland with our new offices in Belfast and Dublin. We have over £100 million to invest into promising, growing companies across the island of Ireland and look forward to supporting more founders and management teams to achieve their business ambitions.”
&nbsp;
Dr Suresh Tharman, Founder and Chairman of the Board at Kingsbridge Healthcare Group, commented: “We have thoroughly enjoyed working with Foresight throughout this period of significant expansion. Foresight’s support and guidance has been invaluable. We now look forward to our next phase of growth under Exponent’s stewardship.”
&nbsp;
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. Since 2022, Foresight has opened an office in Dublin and Belfast, and is actively investing across the island of Ireland.
&nbsp;
&nbsp;
ENDS
&nbsp;
&nbsp;
For more information contact:
Chris Barry, Influential: Barry@thisisinfluential.com / +44 (0)7733 103 693
Lucy Sherwood, Foresight Group: <a href="mailto:marketing@foresightgroup.eu">marketing@foresightgroup.eu</a> / +44 (0)20 3667 8100
&nbsp;
Notes to Editors  
<span style="mso-bidi-font-size: 10.0pt; mso-ascii-font-family: 'Hanken Grotesk'; mso-fareast-font-family: 'Hanken Grotesk'; mso-hansi-font-family: 'Hanken Grotesk'; mso-bidi-font-family: 'Hanken Grotesk'; color: windowtext;">About Foresight Group (“Foresight”) 
&nbsp;
Founded in 1984, Foresight is a leading investment manager in real assets and capital for growth, operating across UK, Europe, and Australia.
&nbsp;
With decades of experience, Foresight offers investors access to attractive investment opportunities at the forefront of change.&nbsp; Foresight actively builds and grows investment solutions to support the energy transition, decarbonise industry, enhance nature recovery and realise the economic potential of ambitious companies.
&nbsp;
A constituent of the FTSE 250 index, Foresight’s diversified investment strategies combine financial and operational skillsets to maximise asset value and provide attractive returns to its investors. Its wide range of private and public funds is complemented with a variety of investment solutions designed for the retail market.
&nbsp;
Foresight is united by a shared commitment to build a sustainable future and grow thriving companies and economies.
&nbsp;
Visit <a href="https://foresight.group">https://foresight.group</a> for more information.
Follow us on <a href="https://www.linkedin.com/company/foresight-group/mycompany/?viewAsMember=true">LinkedIn</a> for key updates.
<img src="https://media.umbraco.io/foresight/cvppmgo1/gm.png?width=109&amp;height=108&amp;mode=max" alt="" width="109" height="108">&nbsp; &nbsp;<img src="https://media.umbraco.io/foresight/zjvgacwp/carbon-neutrak.png?width=97&amp;height=102&amp;mode=max" alt="" width="97" height="102">&nbsp; &nbsp;<img src="https://media.umbraco.io/foresight/tgzjaggk/tcfd-logo.png?width=252&amp;height=47&amp;mode=max" alt="" width="252" height="47">&nbsp;

Foresight exits Kingsbridge Healthcare

Foresight exits Kingsbridge Healthcare Group 

Frontier is a platform for private market investors to Listen, Watch, and Connect — and today we're launching the podcast series!
Join hosts Chris Holmes and Dan Wells, Partners at Foresight, as they kick off the Frontier Podcast. In this inaugural episode, they discuss their roles, backgrounds in sustainable infrastructure, and personal interests.
Topics Covered:
<ul>
<li>Recent events, including the Olympics and political happenings</li>
<li>The podcast's purpose as a platform for private market investors</li>
<li>Insights on the energy transition, AI's role, and green hydrogen</li>
<li>The importance of sustainability reporting and avoiding greenwashing</li>
<li>Results from a recent investor poll on market priorities</li>
</ul>
Key Takeaways:
<ul>
<li>Significant investment in the grid is crucial for the energy transition</li>
<li>Green hydrogen holds great potential</li>
<li>Sustainability reporting and compliance are essential for fund managers</li>
</ul>
Visit&nbsp;<a href="http://foresight.group/frontier">foresight.group/frontier</a> to learn more.

Introducing Frontier: Listen, our new podcast series

<h3 class="bt"><a rel="noopener" href="https://www.fsg-investors.com/shareholder-centre#RegulatoryNews" target="_blank" data-anchor="#RegulatoryNews">Click here</a> to view the announcement on the Foresight Group Holdings Limited website. </h3>

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Click here to view the announcement on the Foresight Group Holdings Limited website.

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