BGF reaches £1bn invested
THE BUSINESS Growth Fund (BGF) has passed £1bn in investments to businesses across Britain and is on track to invest more than £370m this year, compared to £250m in 2015
The news follows a record 12 months for BGF’s team of investors covering the North West: a total of £97.1m has been invested since March 2012, with more than half of that investment activity taking place in the last 12 months.
New investments throughout this period include Grace Cole, RMS International, Sofology, High Access and Kids Planet.
Additional funding was also provided to Barburrito, Better Bathrooms and TD4, owners of Boost Juice Bars UK and The Shake Lab, who have experienced a 180%, 93%, and 160% increase in sales respectively since taking initial investment from BGF.
More than £700m of the £1bn has been invested outside of London and the South East, while almost half of the total £215m invested across the Northern regions has taken place in the last year.
Andy Gregory, regional director, North, BGF said: “BGF has established itself as the leading provider of long-term capital in the UK and we continue to be encouraged by the growing demand for BGF funding among quality businesses in the North West.
“This has been a record 12 months, with activity covering new investments and further funding into existing investee businesses.
“While growing businesses will be affected in different ways and to varying degrees during the Brexit negotiations and beyond, our long-term approach means that we have no intention of slowing down our new activity or support for the companies we back.”
BGF makes long-term investments in small to mid-sized businesses in return for a minority stake. The companies it backs are privately-owned or listed on AIM, and typically have revenues of between £5m and £100m. Collectively, the 155 businesses backed by BGF employ 25,000 people nationwide.
