BGF’s South West team invests £60m in 2024
Growth capital investor BGF has reported a strong year of investments across its South West, Thames Valley and South Wales offices, deploying £60m in small and mid-sized business throughout 2024.
The highly successful 6x MM exit of Bristol-based engineering design, energy and sustainability consultancy Hydrock was also celebrated by the BGF team in 2024, after it was acquired by sustainable design and engineering giant Stantec.
BGF’s South West team backed five new businesses across diverse sectors including technology, healthcare, food & beverage and cyber security. These include significant investments in Kubus, a technology value added reseller headquartered in Cirencester, and Plant-Ex Ingredients, a manufacturer of natural food ingredient solutions based in Bristol.
In 2024, BGF continued supporting its portfolio companies on their growth journeys by encouraging the appointment of key senior figures and non-exec talent, providing direct working capital and facilitating acquisitions.
Portfolio companies expanding through M&A last year included BN Care Group, which completed the acquisition of its sixth care home following new investment from BGF, and Troy, which celebrated its 20th acquisition.
Ned Dorbin, partner at BGF, said: “Despite several economic uncertainties throughout 2024, we’ve continued to see a great deal of resilience and innovation from the businesses within our regions. We’re proud to play our role in supporting these organisations with funding and strategic counsel throughout a crucial period in their growth journeys.
“Looking ahead to 2025, we’re optimistic there will be opportunities for the region’s ambitious businesses to scale, and we look forward to working with them to help achieve their goals.”
More broadly, it has been a significant year for BGF across the UK and Ireland, as it reached a milestone of £4bn invested since its inception in 2011. BGF also joined forces with other major investors and committed £25m to the Invest in Women Taskforce, which has secured £250m of funding to support female entrepreneurs and female-led businesses across the UK.
