Foresight invests GBP4.75m growth capital in Callen-Lenz
Foresight Group (Foresight), a listed infrastructure and SME investment manager, has made a GBP4.75 million investment into Callen-Lenz Associates Limited (Callen-Lenz).
Callen-Lenz was founded in 2007 by Jonathan Webber, CEO, initially focused on technical consultancy for aviation research and development. The Company has developed novel hardware and software products which are sold globally, along with wider design and operational services.
Based near Salisbury, Wiltshire, the company develops, designs and manufactures air vehicles, vehicle components and navigation and communication software for high performance UAVs globally. Callen-Lenz provides a comprehensive range of UAV products, operating within extremely tight tolerances outside pilot sight, and retains relationships and authorisations with UK and international regulatory bodies.
The global UAV market spend in 2019 was USD14 billion, of which USD5 billion was spent on civil drones, with forecast growth of 20.5 per cent CAGR to 2024. Callen-Lenz’s customers include a number of UK government agencies alongside multinational corporates.
Foresight’s investment will drive growth through the recruitment of additional engineers and sales professionals based in their Wiltshire and Bristol offices as well as increasing investment in manufacturing facilities and plant.
Jonathan Webber, CEO of Callen-Lenz, says: “We are delighted to have Foresight Group as our partners. This investment will allow us to accelerate our growth for both the civil and defence sectors, supporting our ongoing development in autonomous systems and wider expansion into international markets.”
Hugh Minnock, Senior Investment Manager at Foresight, adds: “We are excited to back the Callen-Lenz team as they build on the significant commercial traction achieved to date. The use of UAVs in place of larger piloted vehicles is well-aligned with Foresight’s mission to invest for a smarter future.”