SME specialists Consilium Chartered Accountants have provided corporate finance and tax advisory services to the Electric Heating Company (EHC) as part of a £3.8m investment by Foresight Group. The investment in Blantyre-based EHC is the first from Foresight’s £60m Scotland Fund, which is backed by Strathclyde Pension Fund and British Business Investments.
EHC provide electric boilers, heaters, and water cylinders to housing associations, developers, and private homeowners across the UK. The investment will support EHC’s management team with ambitious growth plans which include the launch of a range of air-source heat pumps this year. The investment will also enable EHC to create new jobs, expand its product range, and increase its distribution reach.
Consilium client EHC has enjoyed sustained growth and is poised to take advantage of new opportunities as the UK moves towards a net zero carbon future. Foresight’s investment in EHC is aimed at assisting its growth and contributing to home decarbonisation in the UK.
Daniel Halliday, director at Foresight said: “The EHC team has built a strong, competitive position in the domestic electric heating market and has demonstrated significant growth. We are excited to support the team in delivering their future growth plans that will contribute to home decarbonisation in the UK.”
Bill Walters, managing director at EHC said: “We are committed to seizing market opportunities as the UK moves towards a net zero carbon future. It was important that we chose a partner with the vision and energy to assist our growth and we look forward to working with the Foresight team.”
Consilium Corporate Finance Partner John Blair said: “This is a fantastic investment in a growing Scottish business. We are delighted to have had the opportunity to support Bill and the EHC team in securing this investment.”
Consilium Chartered Accountants are a firm of independent accountants and business advisors providing Corporate Finance and Tax advisory services to business owners, entrepreneurs and investors. Consilium also provides a comprehensive range of Audit, Accounting, Cloud Accounting, and Payroll services. For more information visit consiliumca.com