Foresight backs electrical firm Fieldway with £2m in second Mersey deal

Huyton-based Fieldway provides fire alarm and electrical installation, maintenance and repair services to housing associations and other private sector clients. Tony McDonough reports

electrician, wiring
Fieldway provides fire alarm and electrical installation, maintenance and repair services

 

Private equity investor Foresight Group is investing £2m in fire alarm and electrical firm Fieldway Supplies – its second Merseyside investment in the last few days.

On October 26, Foresight revealed it was injecting £1.9m into St Helens-based plastic card manufacturer, Company Cards and is now backing Huyton-based Fieldway, which provides installation, maintenance and repair services.

The firm primarily services housing associations but also provides merchant services, compliance services, project management and shop fitting services to the retail and leisure industry.

Organic growth

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.

Some of its best known customers include Transport for Greater Manchester, Onward Homes, Your Housing Group and Plus Dane Housing.

As part of the deal, 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.

Future growth

Brian Murphy said: “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.”

The investment into Fieldway is split equally between the Foresight Regional Investment LP Fund and the Foresight Nottingham Fund.

Stephan Gueorguiev, senior investment manager at Foresight, added: “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.”

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