BGF’s Impressive Investment Activity in the South West in 2023

In 2023, BGF, a well-established growth capital investor in the UK and Ireland, exhibited a strong investment performance by allocating nearly £70 million to small and mid-sized businesses in the South West, Thames Valley, and South Wales. Throughout this period, the company supported a total of 44 new businesses and dispersed a noteworthy investment sum of £430 million across the UK and Ireland.

Renowned for its commitment to long-term investments, BGF typically offers initial investments ranging from £1 million to £20 million for a minority equity stake, thus providing support to ambitious teams across a variety of sectors and funding diverse growth plans. Specifically, in 2023, BGF’s South West team extended equity funding to businesses within the technology, healthcare, engineering, and manufacturing sectors.

Over the course of the past year, the South West team has executed significant investments, including a substantial £15.5 million funding for Exeter-based industrial supplies business Troy UK to further its buy and build strategy, as well as a £9 million investment in Bristol-based healthcare infrastructure business, Archus, to facilitate its international and domestic expansion plans. Additionally, BGF’s investment activities in Wales involved an additional £4 million injected into manufacturing business, Victorian Sliders, following an initial injection of £14 million in 2021.

Notable contributions also encompassed a £4.5 million investment in Machine Discovery, an Oxford-based software company; a £3.4 million investment in BN Care, a care home group located in Exeter; and a £3.5 million follow-on investment in Operational Solutions Limited (OSL), a leading counter-drone technologies business based in Reading.

In terms of exit activity, the South West team successfully concluded the sale of Bristol-based software development and digital services company, Amdaris, to Insight Enterprises Inc., resulting in an excellent outcome for all shareholders.

Ned Dorbin, the head of BGF’s South West and Wales, conveyed pride in the opportunity to support an array of innovative and growing companies across the region, particularly in light of their resilience amid ongoing economic uncertainty. Dorbin further underscored the company’s commitment to providing strategic guidance and funding at a crucial stage of these firms’ journeys.

Looking ahead to 2024, Dorbin expressed enthusiasm for continuing to support ambitious businesses poised for strong growth, conveying confidence in the upcoming year’s potential for success among the region’s scaling businesses.