Muckle advises Foresight on multimillion investment into Quanta
Lawyers from our Corporate team advised Foresight on the first investment from its North East Fund, into energy industry engineering services provider Quanta.
Foresight North East Fund, which can offer up to £5m investments, is funded by Durham County Council’s Pension Fund and Teesside Pension Fund.
Plans in the pipeline
Cramlington-based Quanta deliver engineering, procurement and construction services to the energy industry and will use the investment to expand its existing operations and accelerate growth plans in the hydrogen, carbon capture and offshore wind markets.
Nick Oates, chief executive 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."
Accelerating growth
Legal advice to Foresight was led by Corporate team partner Adam Rayner and Stephanie Brown, an Associate in our Corporate team.
Adam said: “Foresight has an exciting programme of investment for the future and we’re delighted to have advised on the very first investment from their North East Fund.
“Quanta has achieved fantastic growth to this stage and Foresight’s investment is well placed to support further significant growth.”
For more information on this investment or to find out more on how we can help you contact Adam Rayner at [email protected] or 0191 211 7962