Posted on 15th March 2023
Foresight Group LLP invests £3.8 million in The Electric Heating Company. Foresight Group LLP is a leading independent infrastructure and private equity investment group headquartered in the UK. The company was founded in 1984 and has since grown to become a significant player in the European investment market. Now with 13 offices across 7 countries, Foresight is a global business with well-established local connections With a focus on sustainability and long-term value creation, Foresight Group LLP has a strong track record of delivering attractive returns to investors while making a positive impact on society and the environment.
On the 15th February 2023, Foresight announced the investment into The Electric Heating Company to accelerate the pace of expanding our product range and further develop technology, while supporting the company growth plans in the UK. EHC products support the decarbonisation of home heating by replacing traditional oil and gas fired boilers. The Electric Heating Company plans to launch the first range of Air Source Heat Pumps.
Daniel Halliday, Director at Foresight, commented: “The EHC team has built a strong, competitive position in the domestic electric heating market and has demonstrated significant growth. We are excited to support the team in delivering their future growth plans that will contribute to home decarbonisation in the UK”
The Electric Heating Company is a leading provider of electric heating solutions, offering a range of energy-efficient products that are designed to help consumers reduce their carbon emissions. With a focus on innovation and sustainability, the company has been at the forefront of the electric heating industry for nearly 20 years, developing a range of products that offer exceptional performance and reliability.
Foresights investment into EHC is a clear indication of the growing interest in the electric heating industry, and the potential for this sector to play a significant role in the transition to a low-carbon economy. With the UK government setting ambitious targets to minimise carbon emissions and tackle climate change, electric heating is set to become an increasingly important part of the solution.
Our Managing Director, Bill Walters commented: “EHC has witnessed significant growth across our established customer base. We are committed to seizing market opportunities as the UK moves towards a Net Zero Carbon future. It was important that we choose a partner with the vision and energy to assist our growth and we look forward to working with the Foresight team.”
Foresight Group LLP states that its investment will support the company’s management team with its growth plans, enabling it to create more jobs and increase the distribution reach.
Judith Hartley, CEO at British Business Investments, said: “ We are delighted to see the Foresight Scotland Fund complete its first investment, following our commitment earlier this year. The mission is to improve access to alternative finance for smaller businesses across the whole of the UK, while supporting the UL’s transition to a net zero economy. This funding means EHC is well-positioned for continued growth whilst also making a meaningful impact on the decarbonisation of heat in the home.”
Kevin Brown, Precision Plastics (Guernsey) LimitedWe are a medium sized independent Builders & Plumbers Merchant / Home Improvement Centre based in the Channel Islands and always looking for quality products to add to our portfolio and offer to our discerning customers. Quality is important on a contained Island market as word of mouth plays a large part in the success of our business.
We took on EHC in 2012 and , in a nutshell, “haven’t looked back”. The Comet range of boilers has proved very popular with installers and householders alike and is now being seen by developers as the perfect choice for their projects giving us many repeat sales. We have also received very favourable comments on their solar equipment.
Having reliable back-up is a major factor on island and to this end EHC have proved to be a top-rated supplier always quick to deal with any minor problems that may arise.
Speed of delivery is excellent, positive feedback from our customers is as good as 100%, and their support at trade shows and provision of display product has provided us as a supplier with all we could ask for.
K Kerr, West LothianYour guys have just been and I’d like to say how helpful, friendly and professional they both were. They are a credit to your company and made me feel reassured. Thank you for responding so quickly and for getting the issue fixed.
R Stacey, WokinghamI want to extend a massive thank you to you for being so proactive and so friendly about my issues. Considering I emailed you on a Sunday and you had the resolve to me by circa 9.19am on Monday I am very impressed.
Thank you again for the excellent customer service shown by you and the team. A client problem resolved quickly, easily and pleasantly. It’s almost a rarity these days.
Mr Thomas, ‘X’ Council, LincolnshireI have recently received a call from the Housing Officer on behalf of the residents of x Court, wanting to pass her thanks on to Kevin.
She informed me that he has been extremely helpful throughout the whole process of the Total Care Package from start to finish and even afterwards.
Once again many thanks from the residents and from myself.
Contact
01698 820533info@electric-heatingcompany.co.uk
Block 5, Unit 40, Third Road, Blantyre Industrial Estate, Blantyre, South Lanarkshire G72 0UP