Foresight Group has invested GBP3 million into Manchester-based Utilities Design & Planning (UDP) from the Foresight Regional Investment Fund.
UDP, a provider of civil engineering and traffic management services, offers inspections, planning works and project management of utilities, sewer connections and highways and rail projects.
The investment will allow the continued expansion of the business throughout adjacent geographies and the ability to capitalise on the significant infrastructure investment in the North West.
UDP was established in 1996 in Salford, Greater Manchester by the current directors David Hilton and Noel Gallagher who will remain with the business as part of the transaction.
Richard Fraser, former managing director at Enterprise Plc, will join as non-executive chairman, and David Atherton, former finance director at Amey Plc, will join as finance director to support the existing management team.
This is the third investment from the GBP40 million Foresight Regional Investment Fund, which is led out of Foresight’s Manchester office and invests in high growth SMEs in the North West region.
Dave Hilton, managing director, Utilities Design & Planning, says: “The Manchester market is fast providing more opportunities for expansion with focus on a growing economy and infrastructure. Foresight’s support will allow us to engage with this growth in activity through driving sales, and by expanding services into adjacent geographies to meet emerging demands.”
Claire Alvarez, senior investment manager, Foresight, adds: “UDP has demonstrated strong growth in recent years, and is a great example of the type of SME that we look for in the Foresight Regional Investment Fund.
“We look forward to working with the senior management team to expand the business nationally, and to also build on the possibilities that local engineering infrastructure will provide after the commencement of major rail and construction projects in the Greater Manchester area.”
