Mon, 11 May 2026 | BUSINESS SALE
Private equity firm Foresight Group has achieved a 4.2x return on invested capital following its exit from FIS Chemicals. Since the group’s original investment in 2020, FIS has expanded through acquisitions and organic growth, diversifying into new end markets, expanding its product offering and growing internationally.
Aberdeen-based FIS, which was established in 1980, specialises in formulating, manufacturing and distributing chemical products for customers in a variety of industrial sectors, including marine, renewables, oil & gas, logistics and hospitality.
The company’s growth has accelerated under the management of Kenny Woods and Gordon Davidson, who took over the business in a 2020 management buy-in.
During Foresight’s investment period, FIS’s annual revenue has increased by more than 160 per cent, with the company remaining committed to reducing its environmental impact and improving energy usage practices.
The investment has generated an IRR of 33 per cent for Foresight. Following the firm’s exit, FIS will now join US-based value added speciality and commodity chemicals distributor Shrieve Chemical Company.
Ryan Finesy, Senior Investment Manager at Foresight, said: “FIS is a real success story for Scottish SMEs and a great example of private capital enabling the continued growth of a well-established business, both internationally and domestically.”
Finesy added that FIS’s growth during Foresight’s investment period “demonstrates that having sustainability as a key component of business strategy helps drive long term resilience and value.”
FIS Chemicals Chief Executive Kenny Woods said that the guidance and support of Foresight and fellow backer Maven Capital Partners, which has also exited the business, had been “invaluable” in its growth journey.
He continued: "I am incredibly proud of what the FIS team has achieved. Our year-on-year growth is a testament to their dedication, talent and resilience. Looking ahead, we are excited about the opportunities with Shrieve Chemicals.”
“Becoming part of a larger and more diverse organisation creates new opportunities for the FIS team and further strengthens our position in the market. We will continue to focus on manufacturing high-quality products for our extensive customer base, while bringing new technologies and solutions to the global market.”
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