iMist Fire Suppression Secures £4.5m Investment To Drive National & International Growth Plans
We are beyond proud to have secured investment by the Foresight Group of £4.5 million to further drive our national, and international, growth plans, invest in sustainable local infrastructure and enhance the functionality of the iMist fire suppression systems. This will help make us become a market leader; making our systems even smarter, more environmentally friendly and cost-effective for domestic and residential projects.
Investment manager of Foresight Group, Francesca Dickinson commented “We are delighted to support Tony, Alex and Nick and the wider team at iMist as they target a significant market opportunity. We are impressed by the business’ growth since inception and look forward to working with the team going forward.”
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 35 years. With the UK market for fire protection estimating at almost £1bn annually, and with fire suppression accounting for more than a quarter of that, we’re beyond excited to start this journey, and start making plans on taking our advanced fire suppression systems to the next level.
With supporting changes in the UK building regulations, especially with Scotland’s most recent amendment of their building regulations that come into force from 1 March 2021. It gives us a greater opportunity to drive demand for innovative fire suppression solutions, and continue to protect lives from fire risks.
Our mission, at iMist, is to be a UK leading company in the design, manufacture, supply, installation, and maintenance of high-pressure water mist fire suppression systems that are suitable and recommended for usage within domestic and residential properties. Tony Sims, managing director of iMist, said: “It gives me great pleasure to announce that iMist has now partnered with Foresight to take the business to the next level. Foresight’s experience of supporting sustainable businesses enabled this to be a seamless process. The partnership will allow iMist to grow and invest further in environmentally friendly fire suppression systems for legislative markets across the globe. 2021 will mark the start of this journey and the team could not be more excited for the future.”
Foresight’s investment will help to drive further growth and development activities across the UK. We expect to expand operations in Scotland, and open two new branches in the North West and Wales to accelerate residential opportunities nationally. We’re also in the process of product approvals to enable US market entry in 2021, with North America representing a particularly large market opportunity.