Private equity firm Foresight has exited Mercia Power Response, generating a return of 3.8x on its original investment.
Mercia Power Response (MPR) develops and manages peaking power assets and has a portfolio of nearly 200 Megawatts. Peaking power plants generally only run during peak hours of demand for electricity. The business is based in Nottingham.
Foresight made its initial investment in September 2015 and since then it has worked with Graham White, MPW’s Founder and CEO, to leverage more than £60 million of capital to support the development of the business’s pipeline of assets.
Matt Smith, Partner at Foresight Group, said: “It has been a pleasure working with Graham and his team, establishing the Company as a leader in the sector. The company is well positioned to accelerate growth over the coming years.”
Graham White, CEO of MPR, added: “Foresight’s ongoing involvement, mentoring and engagement in the business has been a key factor in the company’s success. This deal marks an exciting new chapter for MPR and we look forward to continued rapid growth as demand for embedded power to support renewable power sources continues apace in the UK and across Europe.”