Calash is pleased to announce that it provided commercial due diligence to Foresight Group on its investment into J+S Subsea, a subsea engineering company specialising in the provision, repair and refurbishment of subsea control systems.
Dyce, Aberdeen-headquartered J+S provides proactive, responsive and cost-effective solutions for design, engineering, operational support and maintenance of subsea equipment, primarily related to the Subsea Production Control market. The current management team led a management buy out to acquire J+S in 2020. Since 2020, significant growth has been achieved with revenue more than doubling and the company being named as one of Scotland’s fastest growing companies in 2024.
Calash provided commercial due diligence on the deal on behalf of Foresight. Commercial due diligence included a market assessment and mapping, reviewing its competitive positioning, reviewing its growth strategy, business plan, and exit options, as well as carrying out a comprehensive customer referencing exercise.
“Calash was well placed to support Foresight as it sought to understand the market opportunity that the energy transition presents for J+S Subsea. The Calash team was responsive, detail-orientated and intuitively knowledgeable about the commercial and technical considerations associated with the offshore energy sector. It’s commercial due diligence will help us guide the business into its next phase of growth.”
Ryan Finesy, Investment Manager, Foresight
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Foresight provides growth and buyout funding to support founders, entrepreneurs and management teams to achieve their growth aspirations or release equity to reduce risk. It also invests venture capital funding into innovative, fast-growing companies in the enterprise software and deep-tech sectors that are looking to scale at pace. Foresight supports the companies it invests into to grow responsibly, and the firm invests regionally in growing companies to deliver strong economic and societal returns for all stakeholders. Foresight has invested over £58 million into companies located across Scotland.
J+S Subsea provides proactive, responsive, and cost-effective solutions for the design, engineering, operational support, and maintenance of subsea equipment, primarily within the Subsea Production Control market. We offer tailored solutions to meet all your subsea energy control needs, whether through refurbishing existing equipment, supplying critical components, or designing and testing new systems.
