Consilium advises Electric Heating Company on £3.8m investment

SME specialists Consilium has advised the Electric Heating Company (EHC) as part of a £3.8m investment by Foresight Group.

The investment in EHC is the first from Foresight’s £60m Scotland Fund, which is backed by Strathclyde Pension Fund and British Business Investments.

EHC provides electric boilers, heaters, and water cylinders 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 company 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.”

Consilium Corporate Finance Partner John Blair added: “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.”