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Enterprise

BGF reports positive start to the year in South West

The growth capital investment firm was set up in 2011 and has invested over £3bn in more than 500 companies

Ned Dorbin, head of BGF in the South West(Image: Charlotte Medlicott 2017)

A growth capital investment firm has reported a strong first half of the year in the South West.

BGF, which operates across the 海角视频 and Ireland, said that it has deployed more than £40m across the region in the first six months of 2023. Growth capital investments have been made across a diverse range of sectors, including technology, healthcare, engineering and manufacturing.

Ned Dorbin, head of BGF in the South West, said: “We have had a great start to the year, which is 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.”

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New additions to the BGF portfolio include Exeter-headquartered Troy 海角视频, a network for industrial and engineering supplies, which received a £15.5m investment to support its acquisitive growth strategy.

As part of the deal, Troy appointed Simon King, a former chief executive of DIY retailer Wickes, as its new non-executive chair, following an introduction from BGF’s Talent Network to position the business for further expansion.

Bristol-based healthcare infrastructure firm, Archus has also been boosted by a £9m investment, while South West care home group BN Care has embarked upon a five-year growth journey following a total of £5m invested in the business since January 2023. The company has since acquired two new care homes in Dorset and Exeter, taking its portfolio to five premises.

Mr Dorbin added: “BGF’s mission is more important than ever and the deals we have done this year demonstrate the strength and resilience of the region.