Luminii provides CDD support to Foresight Group on their investment in The Electric Heating Company

17 Feb 2023 /

Luminii are delighted to have provided Commercial Due Diligence (CDD) support to Foresight Group ("Foresight") on their investment in The Electric Heating Company ("EHC" or "the Company"), a rapidly growing distributor of electric heating products operating across the UK.

Founded in 2005, EHC supplies electric boilers, heaters and water cylinders to a range of housing associations, residential developers and private homeowners across the UK. The Company plans to launch its first range of air source heat pumps this year. 

EHC has seen impressive recent growth through expanding its distribution network and accredited installer base. The Company has established a market-leading reputation for the reliability and quality of its product range, technical expertise and excellent customer support. EHC products support the decarbonisation of home heating by replacing traditional oil and gas fired boilers. This aligns with the UK Government’s announcement banning gas boilers in all new homes from 2026.

Foresight’s investment will support the Company’s management team with its growth plans – enabling it to create high-quality, sustainable jobs, expand its product range and increase its reach of distribution. David Leng, a seasoned executive with extensive knowledge of building product distributors, has joined the board as Executive Chair following the investment.

"Luminii are delighted to have supported Foresight on this transaction. This is yet another deal that helps to further strengthen our credentials in the Retail sector. We wish Foresight and the EHC management team continued success for the future." - Lushani Kodituwakku, Managing Director, Luminii Consulting

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  • To date, Lushani and her team have supported me and Foresight on over 20 deals. They have consistently delivered high quality CDD reports, always against tight deadlines and to above expectation. They offer good value for money. Luminii are quick to understand our needs, offer sound advice and support on complex topics. Their ability to tailor the scope to our needs, focus on the core issues of each project and not being afraid to give their opinion backed by sound research and analysis is a great benefit to us. I would recommend their services without hesitation.

    Private equity investment firm with circa £4 billion of assets under management

  • We were impressed with Luminii. They delivered what they promised; the information was useful and actionable, which is what we were looking for. In addition, they were responsive and timely, and the team liked the way Luminii worked. Would we recommend them if someone called us? We definitely would, with an enthusiastic recommendation.

    Board of Directors of a global SaaS Company, UK

  • Luminii Consulting proved themselves to be a highly flexible and dedicated team who delivered a high quality CDD report in a complex tech sector. They were able to cover a wide scope across multiple geographies to a strict deadline and provided us with the required insight and strategic advice to make an informed decision. We appreciated their effort and enjoyed working with the Luminii team.

    Private equity and venture capital with £9.1bn worth of funds under management

  • Lushani and her team at Luminii delivered a high quality CDD report that exceeded our expectations. We were particularly pleased with the post deal recommendations and informed opinions contained within the report. We wouldn't hesitate to use Luminii's services again on future projects.

    Leading mid- market private equity firm

  • We engaged Luminii Consulting for a very targeted piece of commercial diligence in a very short timeframe. Luminii produced an outstanding report exactly on scope in what is a niche market segment. Moreover they managed to produce it in a very short period of time which was essential to getting the deal done.

    Leading independent investment manager with funds of over £1 billion under management

  • We enjoyed a strong working relationship with Luminii Consulting. Their work went above and beyond the scope of the CDD and offered strategic insight and advice that has since helped us with both our post-deal strategy and business development.

    Leading SaaS provider of Identity & Access Management (IAM) software, IDaaS and Identity API

  • Luminii supported the recent MBO with Foresight Group and Signature Property Finance (SPF), providing strategic insight which has enabled the management team to transform their route to market. The CDD report gives SPF valuable intelligence into the competition; market trends; customer feedback and the opportunities that are within the marketplace. The report has been useful to segment data, share customer feedback with the wider SPF team, enabling them to attack the competition and continue to deliver a quality service to brokers/direct clients. Overall, a really insightful report that gives the Management team really useful intelligence.

    Finance lender providing short term property finance