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BGF invests more than GBP316m and completes 15 exits in H1 across the UK & Ireland

BGF, the UK & Ireland’s most active investor, has invested more than GBP316 million across nearly 80 businesses in the first six months of 2021. Exit activity reached record levels during the same period, with 15 exits generating an average money multiple of 2.5x.

Successful exits in H1 include Alnwick-based pharmaceutical company, Arcinova; independent provider of dialysis services, Renal Services; ATM sector services provider, Cennox; Nottingham-based life sciences incubation business, BioCity; sustainable e-commerce returns tech platform ReBOUND; and data security and compliance solutions provider, Semafone.
In addition to its GBP2.5 billion balance sheet, BGF also started making investments alongside the UK Enterprise Fund (UKEF) in July. These investments include leading a GBP58 million funding round into Elvie, the revolutionary global health and lifestyle brand developing iconic products for women.
BGF established the UKEF alongside Coutts to provide private clients with access to privately held, disruptive and diverse companies which are revolutionising their industries and broadening the base of entrepreneurs so crucial to the UK’s future success.
Businesses that have also received investment through BGF and the UKEF include national courier company Speedy Freight, which secured a multi-million investment from BGF earlier this month to accelerate its ambitious expansion plans. Additional investments include next-gen agritech business, Arborea and national car accident repair group, AD Williams.
Stephen Welton, chief executive of BGF, says: “Strong momentum in the first half of the year firmly puts BGF on track to exceed the record breaking results of 2020. We are thrilled have made our first investments via additional capital from UKEF, continuing to support disruptive and diverse businesses that are challenging the status quo and shaking up the industries in which they operate.
“Elvie is a fantastic example of this, and the fact that it was led by an all-female BGF deal team and that BGF is the leading investor in female-led scaleups makes it even more exciting. We look forward to the second half of the year with a real sense of excitement.”
Alison Rose, CEO of NatWest, says: “Clearly, growing companies are an important part of the economy and providing the right type of financing to these businesses is essential – growth economy companies need other options besides loans. Coutts, the private banking arm of NatWest, together with BGF is helping to plug the gap in growth capital through the UKEF and these fantastic results show the real difference this is making.”

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