Submission Date: 26/5/21
Target: IMist
Acquirer: Foresight Group
Deal Description:
James Cowper Kreston’s Corporate Finance team recently provided transaction support to Foresight Group for their £4.5m investment in IMist. Based in Hull, IMist Holdings provides pioneering fire protection systems that are easy to install, cost-effective, discreet and allow greater adaptability than the traditional water mist and sprinkler systems on the market which can be installed in almost all residential and domestic property types.
Foresight’s investment in IMist Holdings will help to drive further growth and development activities for the company across the UK on the back of the current regulatory opportunity. It will also seek to progress product approvals to enable US market entry this year, with North America representing a particularly large market opportunity. The investment is described as supporting Foresight’s ethos of investing in sustainable local infrastructure, who now have £6.8 billion of assets under management.
Corporate Finance Advisers: James Cowper Kreston
Legal Advisers: Clarion Solicitors,RW Blears
Commercial Due Diligence: Catalysis
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