Foresight Group, a leading listed infrastructure and regional private equity investment manager, has made a multi-million pound investment to support the growth of Quanta EPC.
Based in the North East, Quanta is a specialist provider of engineering and consultancy services to the energy sector, focused on improving UK energy security and supporting the energy transition from fossil fuels to renewable energy.
Since leading a buyout from Engie Group in 2018, CEO Nick Oates has broadened the Company’s services into renewables and other infrastructure. Quanta’s experience and skillsets are applicable in the growing markets of hydrogen, carbon capture and offshore wind and Foresight’s investment will help accelerate the Company’s presence in these markets. Quanta is also ideally placed to support the increased focus on UK energy independence, underpinned by the Government’s British Energy Security Strategy.
Foresight’s commitment to the Company comprises a multi-million-pound investment from the Foresight North East Fund, which was launched with ‘cornerstone’ funding from Durham County Council’s Pension Fund and additional funding from Teesside Pension Fund. The investment will enable the Company to grow its North East staff base, creating high quality jobs in the region, as well as expand operations. Foresight has supported its investment with the appointment of local industry specialist Ian Clifford, who will join the board as non-executive Chairperson, and Catherine Earl, an experienced Finance Director.
Nick Oates, Chief Executive Officer at Quanta, said: “We are delighted to be working with Foresight and are excited about the future. Our ability to capitalise on future growth opportunities and support our clients is now enhanced by an experienced, local investment partner. As we look forward, we are assisting our clients to tackle various energy challenges, including the need for increased domestic energy security in line with the Government’s British Energy Security Strategy, whilst also driving the Energy Transition – with Foresight’s backing we are looking to the future with ambition and high expectations.”
Jordan Lavender, Investment Manager at Foresight, added: “Quanta has built a strong reputation within the energy sector as a specialist engineering service provider. We look forward to partnering with Quanta’s management team to drive the business forward, accelerate growth and secure upcoming opportunities.”
Cllr Richard Bell, Durham County Council’s Cabinet member for finance, said: “This investment is an example of how we are supporting the growth of independent businesses through our contribution to the North East Fund. We are delighted that Quanta has been able to benefit from this investment and look forward to seeing more businesses achieve the same level of growth through the Fund.”