Growth capital investment group BGF’s Bristol team backed fast-growth businesses to the tune of £40m during the first half of this year as the region continued to provide fresh opportunities for funding.
Capital investments were made across a diverse range of sectors including technology, healthcare, engineering and manufacturing.
Among the deals were Bristol-based healthcare infrastructure firm Archus, which received £9m, and care home group BN Care, which has embarked on a five-year growth journey following investments totalling £5m.
Exeter-headquartered Troy UK – the UK’s biggest independent network for industrial and engineering supplies – also received £15.5m to support its acquisitive growth strategy.
BGF also exited its investment in Trunki, the Bristol-based children’s ride-on suitcase brand, a decade after its original investment.
The firm has been acquired by Heroes, an international group of baby, juvenile and maternity brands.
Head of BGF in the South West Ned Dorbin, pictured, said: “We have had a great start to the year. It’s further testament to the strength of the region’s business community, which continues to be a hotbed of entrepreneurial activity.
“We are proud to be backing so many brilliant businesses which are focused on growth, particularly in today’s challenging market.
“BGF’s mission is more important than ever and the deals we have done this year demonstrate the strength and resilience of the region.
“As well as completing more than £40m worth of investments so far this year, BGF continues to provide a range of value-add services, providing portfolio companies with invaluable insight, counsel and expertise to deliver on their growth plans.
“We are all very excited about the second half of 2023 as we look to partner with even more businesses across the South West to help them fulfil their potential.”
As part of the deal with Troy, Simon King, the former chief executive of DIY retailer Wickes, was appointed as its non-executive chair following an introduction from BGF’s Talent Network to position the business for further expansion.
BGF’s investment has enabled the business to ramp up its growth trajectory and it recently acquired Northern Ireland-based hardware wholesaler E.A. Martin & Son, which has now joined the Troy group of companies.
Following BGF’s investment in BN Care, the group acquired two new care homes in Dorset and Exeter, taking its portfolio to five, as demand for high-quality care for the region’s elderly continues to soar.
BGF, the largest and most experienced investor in the UK and Ireland, has invested more than £550m in South West businesses since it opened in Bristol in 2011.
