TEC Motors receives investment from Foresight

TEC, a UK-leading distributor of electric motors, gearboxes and inverters, has received substantial private equity investment from Foresight Group in a transaction advised by KBS Corporate Finance.

Founded in 2006 by Scott Edwards, Tina Edwards and Gareth Richardson, TEC has built a well-established and trusted reputation in the UK, with the support of Martin Knott, serving a diverse range of industries from its headquarters in Hartlebury, Worcestershire.

The company’s sales and technical services team possess deep expertise in motor efficiency and reliability, as well as a clear understanding in gearbox and inverter products that further enhance output performance. With regulatory standards and net-zero commitments fueling demand for more energy-efficient electric motors, TEC provides solutions for companies across the UK through its enhanced product range.

TEC is committed to its long-standing customer base, ensuring availability and service levels remain high, as well as enhancing its complementary products and services.

As part of Foresight’s investment, Jonathan Rhodes has been appointed Chief Finance Officer, bringing decades of relevant experience to TEC, while Duncan Cooper joins as Chair after a distinguished career in the industrials sector.

“We are delighted to partner with Foresight, a firm with a track record in backing ambitious UK businesses,” said Scott Edwards, TEC’s CEO.

“With Foresight’s investment, we are enhancing our services and deepening our product range to help drive energy efficiencies and operational excellence for our customers. We are excited for the next chapter of TEC’s journey.”

Scott also paid a glowing tribute to the hard work put in by the KBS Corporate Finance team, led by Dave Gardner, Mughees Saleem and George Dalton, who advised throughout the transaction.

“Dave, George and Mughees, along with the whole KBS CF team, really invested in TEC,” commented Scott. “They took the time and got to know and understand our goals, and were on hand to discuss any concerns or issues we encountered.

“Any transaction of this nature can be somewhat daunting, however KBS helped to simplify the process and supported us, and made a huge effort in understanding our business and market. We found their team were equally as keen to find the right investment partner that would allow TEC to prosper under new ownership.

“If you are looking for a company to guide you through the same process, and provide the knowhow and expertise in transactional matters, we would have no hesitation in recommending KBS.

“Post-deal, KBS are also at the end of the phone, which again is above and beyond our expectations. We’re thankful for their expert advice and support to the shareholders during this deal.”

Lindsay Duebendorfer, Investment Director at Foresight Group, commented:“TEC is a long-standing, independent distributor in a specialised market. It has grown successfully and has built a well-deserved, strong reputation for technical expertise and reliability.

“We look forward to supporting the team in their next phase of growth.”

Dave Gardner, KBS Corporate Finance Managing Director, was delighted to advise on a transaction which reached such a successful conclusion.

“Scott, Tina, Gareth and Martin have built an incredibly successful business at TEC, built upon an ethos of exceptional technical knowledge, premium levels of service and an environment for its team to develop and thrive collaboratively,” commented Dave.

“TEC continues to be both highly performing and a disruptive market presence, able to offer unparalleled range and uniquely modified products for its customers across the UK.

“From early in the process, KBS spent time getting to know both TEC and its team, understanding the commercial and personal aspirations. Partnering with Foresight was a clear choice as TEC continues this exciting new chapter in its journey.

“It has been our utmost pleasure to work with the team at TEC and we wish them every success in the future.”