- Datapath and GovGrant generated 11.7x and 4.4x returns, respectively
- GovGrant was acquired by Source Advisors
- Foresight is a listed infrastructure and private equity investment manager
Foresight Group has announced its exit from Datapath Group and Innovation Consulting Group, which trades as GovGrant.
Datapath, based in Derby, UK, is a company in the design and development of video wall, multiscreen displays, and control room services.
GovGrant is a research and development tax adviser based in Hertfordshire, England.
Foresight’s exit from Datapath generated an 11.7x return and an IRR of 38 percent, while its exit from GovGrant generated a 4.4x return and an IRR of 24 percent, according to a release.
Datapath’s revenues increased to £25 million (€28.63 million; $31.21 million) from £7 million since Foresight’s initial investment in 2007.
Foresight invested in GovGrant in 2015.
“Both businesses are now well-placed to make significant developments in their respective markets,” said Matt Smith, partner, co-head of private equity at Foresight.
GovGrant was acquired by Source Advisors, a tax advisory firm based in Fort Worth, Texas. The transaction generated proceeds of £6.8 million to Foresight’s board at completion, the release said.
Information on Datapath’s acquirer was not available.
Foresight, based in London, is a listed infrastructure and private equity investment manager. Foresight Capital Management manages four strategies across six investment vehicles with assets under management worth £1.4 billion.