Foresight invests £3 million into Utilities Design & Planning Limited

Foresight Group (“Foresight”) has invested £3 million into Manchester based Utilities Design & Planning Limited (“UDP”) from the Foresight Regional Investment Fund (“FRIF”). UDP, a leading provider of civil engineering and traffic management services, offers inspections, planning works and project management of utilities, sewer connections and highways and rail projects. The investment will allow the continued expansion of the business throughout adjacent geographies and the ability to capitalise on the significant infrastructure investment in the North West.

UDP was established in 1996 in Salford, Greater Manchester by the current directors David Hilton and Noel Gallagher who will remain with the business as part of the transaction. Richard Fraser, former MD at Enterprise Plc will join as Non-Executive Chairman, and David Atherton former FD at Amey Plc, will join as Finance Director to support the existing Management team.

This is the second investment from the £40 million Foresight Regional Investment Fund LP (“FRIF”) which is led out of Foresight’s Manchester office and invests in high growth SMEs in the North West region.

Dave Hilton, Managing Director, Utilities Design & Planning Limited, commented: “The Manchester market is fast providing more opportunities for expansion with focus on a growing economy and infrastructure. Foresight’s support will allow us to engage with this growth in activity through driving sales, and by expanding services into adjacent geographies to meet emerging demands.”

Claire Alvarez, Senior Investment Manager, Foresight, commented: “UDP has demonstrated strong growth in recent years, and is a great example of the type of SME that we look for in the Foresight Regional Investment Fund. We look forward to working with the senior management team to expand the business nationally, and to also build on the possibilities that local engineering infrastructure will provide after the commencement of major rail and construction projects in the Greater Manchester area.”

Foresight were advised in the transaction by a team from Addleshaw Goddard led by Katie Simpson and Andy Green with financial due diligence provided by Stephen Green’s team at RSM, commercial diligence carried out by Roger Penny of RPL and management due diligence carried out by Mike Hicks of Catalysis.

About Utilities Design & Planning Limited

At UDP we offer a comprehensive project management service which leaves you free to manage your core business whilst our specialist engineers take ownership of all technical and administrative aspects of multi utility work-streams. We have experience in the planning and installation of the full range of utility services from high pressure gas pipelines, water mains and drainage connections through to the laying and commissioning of fibre optic cables.

 

Source: Foresight Press Release

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