Foresight Group has announced a £4m growth capital investment into SAMP Technology Holdings (t/a Asset Performance Partners) alongside investment from Lloyd’s Central Fund.
APP is a leading technology-enabled engineering group providing technical services and software to the energy, infrastructure and speciality insurance sectors.
APP employs 103 staff and is headquartered in the UK with operations in South Africa, the US and West Africa.
Commenting on the investment, Andrew Carr, CEO of APP, said: “Our team is more committed than ever to advancing asset performance and strengthening risk-transfer strategies alongside equity owners of energy and power infrastructure.
“Strong electricity and energy systems are the foundation of thriving societies, and we are dedicated to enhancing our products and services to unlock greater value from both existing and new power, energy, and infrastructure assets.
“The investment from Foresight and Lloyd’s of London marks an exciting new phase in APP’s journey that will unlock further growth and help us support our customers with our unique, full-service offering.”
Dave Guy, investment manager at Foresight, added: “We are delighted to have completed an investment in APP, supporting the leadership teams’ vision for growth.
“Independent Power Producers will have a key role in the global energy transition and APP is ideally placed to support the market with their full suite of engineering, performance platform and insurance offerings.”
Rosie Denée, director of innovation and commercial education, Lloyd’s, said: “Asset Performance Partners combines engineering expertise with advanced asset analytics to deliver stronger risk insight across energy and infrastructure portfolios.
“Their progression from the Lloyd’s Lab, to securing growth investment highlights the increasing role of data-driven solutions in improving underwriting confidence and strengthening market resilience.”
The company is a graduate of the Lloyd’s Lab Insurtech accelerator program, through which it has developed its unique Insurtech platform, providing detailed asset risk analytics and monitoring to support the provision of insurance to the power and energy sectors.
The investment will support the continued roll-out of APP’s platform and Insurtech offerings along with adding key sales and engineering roles into its engineering businesses.