Investment firm set to fund job creation in East Midlands
A private equity investment firm has told TheBusinessDesk.com it is looking to create jobs and expand its presence in Nottingham within the next 12 months as it identifies 50 investment targets over the next 12 months.
Business Growth Fund (BGF), which opened an office in City Gate East in Nottingham earlier this month, says it is looking to invest in growth businesses in the city – and create jobs.
The firm made the news earlier this month after it announced it had hired Seb Saywood from Foresight Group.
Speaking to TheBusinessDesk.com at the firm’s new Nottingham offices, BGF investor Ian Downing, said: “Although we’ve been investing in East Midlands businesses for some time, it was important we opened an office in the region, and that’s why we recruited Seb.
“There are lots of entrepreneurs out there who aren’t aware of the full range funding available to them, and we’re looking to speak to them to fund acquisitions, the purchase of plant and assets and other investments that perhaps can’t be funded by their businesses.”
Saywood said: “The opportunity to join BGF was too good to turn down. We can start off by providing £2m of funding and follow the business through a complete journey. There’s no rush to exit for us.”
Downing says that “withing three or four months”, BGF will make its next East Midlands investment – the first since it put down roots in Nottingham.
“We looking for firm at the medium end of SMEs,” he told us, “and we can fund them from anything from £2m up to £10m for a minority stake.
“Our plan now is to expand our team and our Nottingham offices over the next 12 months.”
