Strong investment activity reported across the region during 2023
Growth capital investor, BGF, invested £60m in businesses in Yorkshire and the North East in 2023.
Across the North of England in 2023, BGF reported strong momentum, investing £115m in small and mid sized businesses. In total, BGF invested £430m across the UK and Ireland in 2023.
Investments in Yorkshire and the North East spanned a range of sectors including technology, healthcare, property and manufacturing.
Notable deals in Yorkshire include an £8.25m investment in Leeds-headquartered healthcare specialist Primary Care Physio, £3.25m in Harrogate-based IDR Law, which specialises in wills, probate and trust matters, and £10m in Yorkshire housebuilder Newett Homes.
Further Yorkshire investments include £12m in acquisition software provider Tribepad, and most recently a multi-million investment in Akula Living – a marine-grade outdoor furniture manufacturer to the world’s largest hospitality and cruise operators.
BGF adds that businesses in the region which it has backed have continued to thrive in 2023, despite tough economic conditions.
Barnsley-based Operam Education Group completed three acquisitions in 2023, as part of its buy-and-build growth strategy.
And hospitality group Arc Inspirations opened four new sites in Sheffield, Birmingham, Nottingham and Newcastle, with plans to open further venues across the UK over the next five years.
BGF continued to invest in its own team in 2023 following the appointment of Becky Odam who has joined the portfolio team.
As of January 2024, Barry Jackson, who is responsible for BGF in Yorkshire and the North East will now also lead the North West team in Manchester following the departure of Neil Inskip, who is leaving BGF after a 12-year tenure.
Jackson will continue to report to Richard Taylor, head of growth investments at BGF.
Jackson said: “Our 2023 investments have demonstrated the scale of opportunity to continue backing high-quality businesses in the North of England.
“We are positive about investment activity in the coming year and will continue to provide minority, long-term and patient capital to a diverse range of high growth and high quality businesses so that they can maximise their potential.
“I’m looking forward to expanding my remit into the North West, working even more closely with colleagues across our regional teams.”
