Growth capital investor celebrates record year of exits from North West portfolio

Growth capital investor BGF has reported that 2022 was a record year for realisations in the North West, with three successful exits from businesses.

In 2022, the investor exited Didsbury-based St Pierre Group following its acquisition by Mexican food manufacturer, Grupo Bimbo, after originally investing £8 million in the bakery business in 2018 and generating an 85% return for BGF. BGF also exited Liverpool’s Sentric Music, which was acquired by Swiss fintech company, Utopia Music, and Manchester-headquartered NSS, which was acquired by Premier Technical Services Group Ltd (PTSG).

2022 also saw the growth capital investor support North West businesses with £53 million of investment, across seven deals. Deals included social media business KOMI Group, R&D tax relief specialists RDS and apprenticeship training provider Apprentify.

Neil Inskip, head of BGF in the North West and Midlands, commented:

“Over the last 12 months, the team has continued to demonstrate the strength and diversity of the BGF investment model, supporting companies to achieve their growth potential while delivering exceptional returns for businesses and all shareholders. Our proven approach continues to resonate with businesses and it has allowed us to back a wide-range of emerging and high-growth sectors, while supporting portfolio companies to achieve their ambitions.”

To deliver ongoing strong momentum into 2023, BGF has also continued to grow its North West team and hired Courtney Walker as its newest investor.

Neil Inskip added:

“BGF was set up to continue to back businesses in challenging times. Our aim in the coming 12 months is to build strong relationships with fast-growth and entrepreneurial-led businesses looking for a non-controlling equity partner approach.

“As with any difficult economy, strong, well-capitalised businesses in resilient sectors will find opportunities to seize market share, particularly from less nimble, over leveraged rivals. The region has a strong reputation in sectors including tech, education, and healthcare, which we expect to remain resilient in 2023.”