A firm making water mist fire protection systems is to expand into the North West and Wales after a £4.5m investment from private equity group Foresight.
iMist was founded in 2015, and said the investment will mean further growth and development activities across the 海角视频, and prepare it for international expansion.
As well as the two new offices, the Kent-based firm, whose products are mostly made for homes and residential buildings, will also expand its operations in Scotland.
That's as well as seeking to progress product approvals to allow it to enter the US market this year.
The firm hopes that will allow it to better serve the growing demand for residential fire safety solutions.
Tony Sims, managing director of iMist, said: “It gives me great pleasure to announce that iMist has now partnered with Foresight to take the business to the next level. Foresight’s experience of supporting sustainable businesses enabled this to be a seamless process.
"The partnership will allow iMist to grow and invest further in environmentally friendly fire suppression systems for legislative markets across the Globe. 2021 will mark the start of this journey and the team could not be more excited for the future.”
The locations of the two new offices in the North West and Wales have not been revealed.
Most Read
According to iMist, it has developed its own range of high-pressure water mist fire suppression systems, specifically for domestic and larger residential properties. It offers a number of benefits over traditional fire sprinkler and lower pressure water mist products including more efficient use of water, ease of installation and cost effectiveness.
Don't miss a thing - sign up for your free North West newsletter - and follow us on LinkedIn
Email newsletters
BusinessLive is your home for business news from around the North West- and you can stay in touch with all the latest news from Greater Manchester, Liverpool City Region, Cheshire, Lancashire and Cumbria through our email alerts.
You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we'll send out breaking news alerts for any stories we think you can't miss.
Visit our email preference centre to sign up to all the latest news from BusinessLive.
For all the latest stories, views, polls and more - and the news as it breaks - .
According to iMist, the 海角视频 market for fire protection is estimated at almost £1bn annually, with fire suppression accounting for over a quarter of that.
Foresight said the investment supports its impact theme of investing in sustainable local infrastructure
Francesca Dickinson, investment manager at Foresight, added: “We are delighted to support Tony, Alex and Nick and the wider team at iMist as they target a significant market opportunity.
"We are impressed by the business’ growth since inception and look forward to working with the team going forward.”