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6th March 2019

Foresight boosts two Lincolnshire businesses with £1.95 million MEIF investment

  • £1 million investment into Lincoln–based YPP Group
  • £950,000 investment as part of £1.2m round into Stamford-based Firetree Chocolate Ltd.
  • Foresight’s first MEIF investments into Greater Lincolnshire LEP

 Foresight Group LLP (“Foresight”) has announced two investments totalling £1.95 million into two fast-growing Lincolnshire based businesses, Firetree Chocolate Ltd and YPP Group via the Midlands Engine Investment Fund (MEIF).

Foresight Group LLP

Foresight completed a £950k investment into premium chocolate maker Firetree Chocolate Ltd (“Firetree”) as part of a £1.2 million funding round in late January. Firetree was set up in 2017 as a bespoke high-end chocolate manufacturer. It has been successful in securing several prominent B2B supply contracts in the ‘super premium’ chocolate market, as well as securing two lucrative private label contracts. Firetree’s ambition is to develop its own brand of super premium chocolate as a way of maximising shareholder value and returns.

Commenting on MEIF’s investment, David Zulman, Managing Director, Firetree, said: Firetree Chocolate is delighted to have Foresight come on board at this important phase in its growth cycle. Since the first chocolate poured off the line in early 2018, Firetree has collected an impressive list of B2B customers in both the UK and abroad. The product is well proven and well accepted. Its high quality and exceptional taste, manufactured from rare volcanic cocoa beans in its state of the art artisanal factory, sets it up to be well placed to launch its own consumer super-premium chocolate brand.

As part of the deal, Firetree will be opening an additional office in Stamford, a move which will increase office capacity, and create eight new jobs for the area. The investment from MEIF will be used to expand the sales and marketing team to further boost sales.

In early February, Foresight completed a £1 million investment into YPP Group (“YPP”). Based in Lincolnshire, YPP was founded by well-known local entrepreneur Stuart Maclaren, YPP provides a range of print and graphic design services, offering a holistic service from concept creation through to printing, finishing and delivery.

Stuart Maclaren, Founder and CEO of YPP Group, said: “We are delighted to receive funds from the MEIF. With the investment and the help and support available from Foresight we are confident we can fulfil our long terms goals for our company.

Your Print Partner has demonstrated considerable growth over recent years and with our new brand, Custom Gifts, about to launch, we are delighted that Foresight see the potential in YPP and are supporting us on this exciting journey.”

The investment from MEIF will be used predominantly to facilitate the launch of YPP’s latest subsidiary, Custom Gifts, and to help build brand awareness. YPP is expected to create an additional seven local jobs within the first 12 months following the investment.

Reflecting on these two investments into Lincolnshire, Ray Harris, Principal, Foresight Group, commented: We are pleased to have been able to deploy this substantial funding into two great businesses in Lincolnshire and understand the impact these investments can have on the local economy such as creating new jobs for the area and attracting talent.”

Russell Copley, GLLEP representative said: “I am delighted that the growth ambitions and drive of these two Lincolnshire businesses have been recognised and supported with these investments.  Greater Lincolnshire is home to some fantastic businesses and we hope that these are just the first of a number of investments that the MEIF will be making across the area.”

Grant Peggie, Director, at the British Business Bank, added: “With the support of the Midlands Engine Investment Fund and Foresight, it’s good to see that small growing businesses across the Midlands are benefiting from the fund, generating economic growth and creating new job opportunities.

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Advisers on the Firetree deal included:

Legal advisers: Fraser Brown

Financial due diligence: Duncan & Toplis

Lenders: IGF

Advisers on the YPP deal included:

Legal advisers: Fraser Brown and Wilkin Chapman

Financial due diligence: Streets

Follow @midsenginv

The #MEIF is now on LinkedIn. Follow us for the latest investment news, fund updates and information on securing external finance.

Connect here: https://t.co/mhwkGSoAcr https://t.co/VXP3Zc0pJ0
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#MEIF Small Business Loans are available for a wide range of purposes including filling gaps in growth capital, funding new projects or purchasing equipment.

Connect with our fund managers @B_C_R_S and @1st_Enterprise and access more information here: https://t.co/FMbFV547x6 https://t.co/hnbIVDvsgI
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Sandiacre-based plastic moulding firm H.P.M is set to strengthen its presence in the #Midlands and create three new jobs following a £250,000 investment from #MEIF and @Maven_Midlands.

Read more in @BLMEastMidlands: https://t.co/4DMMg7PolE https://t.co/IhQtmq6QHV
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The @BritishBBank’s Business Finance Guide has been updated to help businesses experiencing challenges due to COVID-19.

The guide provides information on funding options, financial management and how to speak with lenders.

Visit the guide here: https://t.co/A1UBjWLnka https://t.co/xFVavqQqjI
MidsEngInv photo

Warwick-based Utility Stream has secured new investment from the #MEIF and @Midven.

The energy consultancy will use the funding to expand its team, as the firm looks to build its presence across a range of new markets and sectors.

Read more here: https://t.co/DrUolxW5OT https://t.co/GYuJrslAg4
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Follow @midsenginv

The #MEIF is now on LinkedIn. Follow us for the latest investment news, fund updates and information on securing external finance.

Connect here: https://t.co/mhwkGSoAcr https://t.co/VXP3Zc0pJ0
MidsEngInv photo

#MEIF Small Business Loans are available for a wide range of purposes including filling gaps in growth capital, funding new projects or purchasing equipment.

Connect with our fund managers @B_C_R_S and @1st_Enterprise and access more information here: https://t.co/FMbFV547x6 https://t.co/hnbIVDvsgI
MidsEngInv photo

Sandiacre-based plastic moulding firm H.P.M is set to strengthen its presence in the #Midlands and create three new jobs following a £250,000 investment from #MEIF and @Maven_Midlands.

Read more in @BLMEastMidlands: https://t.co/4DMMg7PolE https://t.co/IhQtmq6QHV
MidsEngInv photo

The @BritishBBank’s Business Finance Guide has been updated to help businesses experiencing challenges due to COVID-19.

The guide provides information on funding options, financial management and how to speak with lenders.

Visit the guide here: https://t.co/A1UBjWLnka https://t.co/xFVavqQqjI
MidsEngInv photo

Warwick-based Utility Stream has secured new investment from the #MEIF and @Midven.

The energy consultancy will use the funding to expand its team, as the firm looks to build its presence across a range of new markets and sectors.

Read more here: https://t.co/DrUolxW5OT https://t.co/GYuJrslAg4
MidsEngInv photo

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