In 2020, BGF’s (Business Growth Fund) North West team backed seven business and exited three. Overall, bringing the fund’s regional total to £340 million which is invested in over forty businesses.
Despite the challenges of Covid-19, BGF had a very active year and recent investments include A Wilderness Way, ROI and Kids Planet. Rowan Group worked with BGF and the senior management team of Kids Planet to appoint Kieran Ellis to the role of Finance Director.
As the United Kingdom comes out the other side of the pandemic, BGF believes that many businesses and entrepreneurs will look to enter new markets, make acquisitions and possibly reduce the risk of their own investment. Therefore, providing the opportunity for further deals in the next 12 months.
However, Neil Inskip, Head of BGF’s North West team, recognises that many of the region’s businesses have faced significant pressures as a result of the pandemic. Inskip states that “BGF was set up to take a long-term view and provide businesses with the support and funding that they need to grow at a pace which reflects their individual growth ambitions and circumstances.”
The challenges of the pandemic, have resulted in some businesses pushing back their exit timelines to increase the value of their business further. Others have taken on additional debt and look to strengthen their balance sheet.
Neil Inskip added that “many of these businesses are looking for an experienced investment partner with deep enough pockets to give them the ability to reignite or forge ahead with growth plans this year.”
Picture – BGF North West Team