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BGF reports record investment in growth firms

Patrick Graham of BGF
Patrick Graham: momentum (pic: Terry Murden)

BGF, the UK and Ireland’s most active investor, has reported a record year of investment, including £60 million injected into Scottish firms – more than double the previous year’s figures.

Deals completed last year by the Scotland team ranged from technology to healthcare to consumer goods, from early-stage through to IPO. The fund completed 67 deals across the UK, investing £600 million.

Among the Scottish deals was an £8m investment in Edinburgh-headquartered luxury leather goods brand Strathberry to help scale the business in global markets; while Glasgow IT group, Kick ICT received £8.7m to support the firm’s ambitious growth plans, including acquisitions as the business expands across the UK.

Patrick Graham, BGF’s head of Scotland, said: “This year has broken records for investment in the Scottish market, with nearly £60m of growth capital deployed to a range of businesses from early stage through to scaleups and also IPOs.

“The positive momentum of the team across Scotland demonstrates the strength of our investment model, and the ability of BGF to deploy capital at scale to the brilliant businesses strengthening our economy. This has proved all the more important when faced with the ongoing challenges brought by the Covid-19 pandemic.”

BGF’s existing portfolio companies in Scotland have also continued to perform well in 2021. Following a £2.7 million investment from BGF in 2020, Stirling based paint and accessory retailer The Paint Shed opened its eighteenth store in Aberdeen in May.

Walker Precision, the Glasgow based specialist engineering firm achieved Nadcap Gold status – a global program designed to set standards for aerospace engineering, defence and other related industries. Meanwhile, CSN Care Group, a leading social care provider acquired three businesses, further developing their private care offering.

On the back of a record year for investments and growth in its portfolio, BGF expects to see increased demand for business funding in 2022 and beyond.

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