Business Growth Fund moves for Swarbrick
LEADING dealmaker John Swarbrick, who recently announced he was stepping down as head of private equity firm LDC in Yorkshire, is taking a top position at Business Growth Fund.
Mr Swarbrick is joining BGF as head of portfolio.
Stephen Welton, chief executive of BGF, which has invested in the north in organisations including Springfield Healthcare and Barburrito, said: “We are delighted that John is joining BGF.
“He brings with him a wealth of experience from his 15 years with LDC, a firm with a great and long-standing track record of successfully investing in the UK, and from his time in industry before that.
“This appointment completes our senior team and as the pace of our new investment activity continues to increase, we will have further resource available to make positive contributions to our investee companies as they grow and flourish.”
Mr Swarbrick, who began his career as a corporate finance advisor at PwC, is to remain with LDC part-time until the end of 2013. However, he has taken up his post at BGF immediately.
Mr Swarbrick said: “I am delighted to be joining BGF at this exciting time. Stephen and his team have created a superb business, which has achieved tremendous momentum in a short space of time.
“We anticipate that this rapid growth will continue and there will be plenty of work to do to provide the level of support that BGF backed businesses deserve.”
“I am proud to be associated with both organisations and delighted to continue to be working with entrepreneurial businesses that are looking to grow over the next five to ten years.”
In his role at BGF, Mr Swarbrick will split his time between the organisation’s six offices helping its regional directors and their teams. He will also be part of the senior team and a member of the investment committee.
The Business Growth Fund was launched last year backed by £2.5bn from major banks. Launched as part of wider efforts to improve lending to business, the organisation provides capital of between £2m and £10m in profitable businesses with turnovers of between £5m and £100m in return for minority stakes in businesses of between 10% and 40%.
