Foresight Group has made a significant investment into software and sensor business Ekkosense, the fifth investment completed by the firm during November.
Ekkosense specialises in developing and delivering expert software analytics, low cost innovative sensors and vendor agnostic thermal expertise for optimising the performance of data centres, server rooms, power transmission sites, solar plants and telecoms equipment.
The investment will enable the business to continue to develop its software functionality and sensor technologies for further applications within critical built environments, enabling its customers to reduce operational risk, benefit from energy savings and release unused or unavailable capacity.
Dean Boyle, CEO, Ekkosense, says: “We’re excited by the opportunities that this extra capital provides Ekkosense in terms of accelerating the businesses’ software growth. Our EkkoSoft software platform has received fantastic customer feedback and we will be adding new functionality for our data centre customers and driving growth in other critical sectors via our breakthrough IoT technologies. We look forward to collaborating with Foresight’s experienced investment team to drive sales and improve key services in order to maintain a position at the forefront of the market.”
Mike Quinn, senior investment manager, Foresight, adds: “The investment into Ekkosense is another exciting opportunity to support a high growth company in the heart of Nottingham. The team at Foresight has known the founders for some time, has tracked their progress, and been impressed with the growth achieved over the last 12 months. They are very well regarded in their field and the growing blue-chip customer base speaks for itself. We are looking forward to working with management to expand the software capabilities and maximise the exciting opportunities that exist for the company.”
Professionals from the local community supported the transaction with Duncan Taylor from the Nottingham office of Nelsons providing legal advice to the company, and Foresight being advised by Richard Medd and Vicky Gaskell from Browne Jacobson and Julian Clough and Adam Foster from Mazars. PMSI also provided commercial due diligence.
