• Founded more than 20 years ago Martek Marine is a key supplier of products for ship safety, performance and crew welfare  
• Market-leader with operations in the UK and APAC region
• Acquisition from listed James Fisher and Sons plc will unlock growth with experienced new Chair appointed to support CEO Karen Bedford on achieving strategic growth plan 

10 September, 2024: Foresight Group (“Foresight”), the leading listed infrastructure and regional private equity investment manager, has today announced an £8 million investment in the management buyout of Martek Marine Ltd (“Martek” or “the Company”) from listed group James Fisher and Sons plc.  

Martek Marine is a leading and trusted supplier of safety, performance and crew protection equipment to the global shipping industry. Headquartered in Rotherham, Yorkshire, it has a team of 60 people in the UK and in Singapore.   
 
Founded in 2000, the Company has supplied more than 30,000 pieces of equipment to major ship operators based around the world. Products include a range of portable and fixed gas detection systems, defibrillators and water testing solutions. Martek is an expert at interpreting the complex matrix of maritime regulations. Twice a winner of the prestigious Queen’s Award for Enterprise and a holder of the ISO 9001 international quality benchmark, Martek has a strong market reputation and a loyal customer base. The Company provides guidance on health and safety requirements and delivers frictionless global fulfillment.  

Foresight, which is one of the most active investors into growing companies across the UK and Ireland, will be supporting CEO Karen Bedford and the management team at Martek to achieve its ambitions as a standalone business. 

With a strong track record of supporting business growth, Foresight will help Martek capture opportunities and fulfil its potential. Experienced business leader Nick Alexander has been appointed as the Company’s new Chair. 

Nick Mettyear, Investment Director at Foresight Group, comments: “Martek Marine demonstrates all the qualities we look for when investing in a business. The Company has a dynamic management team, sells excellent products and has a deep understanding of the complex regulatory environment in the sector. This enables Martek to deliver a market-leading service to its customers. 

“We are pleased to be supporting Karen and the team who are driven, focused and have unrivalled knowledge of the sector. We look forward to working with the team to unlock the growth opportunities.” 

Karen Bedford, Managing Director of Martek Marine, said: “In Foresight we have the perfect partner who shares our values and vision for the Company. Martek Marine sells innovative products, which offer sustainable solutions for ship safety, performance and crew welfare. We are excited to return to the agility of independent ownership and secure the backing of Foresight. 

“We look forward to working with our new Chair, Nick Alexander, who has an excellent reputation and will play a pivotal role in the next phase of our journey. We now have a formidable team in place to achieve our growth aspirations.” 

New Chair, Nick Alexander, added: "Martek Marine has pioneering solutions, a global client base, excellent regulatory understanding and a highly energised management team. The market provides considerable growth potential. I’m excited to work with Foresight again, taking on the role of Chair and working with the team to help realise their ambitions.” 

Foresight invests in promising, growing companies, typically valued up to £50 million, across a wide range of sectors. With a collaborative approach, its team brings much more than investment to the growing companies it supports. Alongside Foresight’s four decades of investment experience, its team shares operational insights, guidance and strategic connections.

With offices located across the North of the UK, Foresight has already invested close to £30 million in growing companies across Yorkshire and the North East in 2024. Recent investments include Leeds University spin-out Cavero Quantum and Teesside electronics specialist Isocom Components 2004 Ltd.  
 
 
Advisers to Foresight:  
Financial Due Diligence by Cortus Advisory Group Limited
Legal Due Diligence in progress through Browne Jacobson LLP
Commercial Due Diligence by Baringa Partners LLP
Management Due Diligence via Confidas People Limited
Insurance Due Diligence by Vista Insurance Brokers Limited
 
Advisers to the vendor: 
Vendor Due Diligence and Legal Support by Deloitte LLP