Foresight gets moving with Eden Mobility investment

• A leading UK retailer of mobility equipment enabling people to live independent lives
• Investment will create jobs across the UK as Eden grows its existing national high street presence
• Former members of Holland & Barrett and Mamas and Papas retail leadership teams have been appointed to support the present team to deliver the forecast expansion

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Leeds, 26 March, 2024: Foresight Group (“Foresight”), a leading regional private equity and infrastructure investment manager, has announced an investment into Eden Mobility (“Eden” or “the Company”), one of the UK’s leading retailers of mobility equipment. 

Eden was formed in 1998 by long-term business partners of over 25 years, David Hughes and Karl Howe. They started Eden from its first showroom in Bentley, Doncaster, and have established Eden as a leading retailer known for its high-quality customer service and provision of excellent aftercare support. It is headquartered in Scunthorpe and has 32 stores nationally employing over 100 people. Investment from Foresight’s North West and Yorkshire & North East focussed funds will enable Eden to further expand its footprint across the UK.  

The 2021 census showed the proportion of people aged 65 years and over rose from 16.4% to 18.6%. Eden’s products allow customers to become more mobile, to be more independent and to regain their freedom through their mobility. 

Foresight is supporting the company’s growth through elevating members of the existing management team to board level roles. Lee Jagger has been promoted to Sales Director, having previously held multiple senior sales positions prior to joining Eden, where he has been instrumental in delivering the revenue growth. Will Bailey has also been promoted to Operations Director, after rising rapidly through Eden since initially starting in the IT team.

The senior team will be further bolstered through the appointment of a new and highly experienced CEO and Chair. 

Marek Laskowski has been appointed as CEO, bringing with him vital experience from Ann Summers and Mamas and Papas, two retailers whose business model is also built on in-store staff-based sales and where he managed 100 plus stores with over 1,000 employees.

Andy Torrance joins as Chair. Starting his career on the shop floor, Andy rose to the board that carved Halfords out of Boots with private equity backing, before subsequently serving as Chief Operating Officer at Dunelm and Holland & Barrett. Andy is now the Chair of Angling Direct, following three years as its CEO. A finance director is also set to be appointed.

Richard Ralph, Investment manager, Foresight Group, said: “As Yorkshire and the North East’s leading elderly mobility equipment retailer, we are delighted to support Eden Mobility on its next stage of growth. We are backing a strong existing and incoming management team to deliver an accelerated growth plan in a substantial, growing and unconsolidated market. We have every confidence the team will establish Eden as the UK’s leading elderly mobility equipment retailer.”

Karl Howe, Co-Founder, Eden Mobility said: “We are delighted to welcome Foresight Group, Marek and Andy into the Eden Family. With Foresight’s investment we are excited to see the Eden brand continue its growth story, as we strive to create the market leading national mobility equipment retailer, serving people in local communities throughout the UK, who require high quality mobility equipment and a first-class service. We are incredibly grateful for the hard work and support of our advisors in delivering the transaction, without which the transaction simply would not have happened.”

 

ENDS

 

Advisers to the Company:

Corporate Finance:          Castle Square Corporate Finance

Legal Advice:                      Squire Patton Boggs

 

Advisers to Foresight :

Financial DD :                     Cortus Advisory

Commercial DD :              PMSI Consulting

Legal Advice :                     Gateley

Management DD :             Catalysis Advisory

Insurance DD                      Vista Insurance

Cyber DD                             KryptoKloud

 

Notes to Editors

 

For more information contact:

Lucy Sherwood: marketing@foresightgroup.eu / +44 (0)20 3667 8100

Tom Carlin: carlin@thisisinfluential.com / +44(0)7827 957 740 

 

About Foresight Group Holdings Limited 

Foresight Group was founded in 1984 and is a leading listed infrastructure and private equity investment manager. With a long-established focus on ESG and sustainability-led strategies, it aims to provide attractive returns to its institutional and private investors from hard-to-access private markets. Foresight manages over 400 infrastructure assets with a focus on solar and onshore wind assets, bioenergy and waste, as well as renewable energy enabling projects, energy efficiency management solutions, social and core infrastructure projects and sustainable forestry assets. Its private equity team manages eleven regionally focused investment funds across the UK and an SME impact fund supporting Irish SMEs. This team reviews over 3,000 business plans each year and currently supports more than 250 investments in SMEs. Foresight Capital Management manages four strategies across seven investment vehicles.

Foresight operates in eight countries across Europe, Australia and United States with AUM of £12.4 billion*. Foresight Group Holdings Limited listed on the Main Market of the London Stock Exchange in February 2021 and is a constituent of the FTSE 250 index. https://www.foresightgroup.eu/shareholders

*Based on unaudited AUM as at 31 December 2023.