The chief executives of some of Britain’s best-known companies have agreed to lend their expertise to the new Business Growth Fund (BGF) as non-executive board members.
Audrey Baxter, the CEO of Baxters Food Group, Stephen Murphy, Group CEO of Richard Branson’s Virgin group of companies, Neil Johnson, Chairman of aviation and defence engineering company Umeco plc, toy model company Hornby Plc and Motability Finance, the car scheme set up to help disabled drivers, and John Burgess, Co-founder and Managing Partner of European equity investment firm BC Partners and Non-executive Director of C&C Group plc which manufactures and markets the Magners and Gaymers cider brands around the world, have all agreed to join BGF as non-executive directors.
Sir Nigel Rudd (pictured), Chairman of the BGF, says: “The Business Growth Fund is much more than a plain vanilla equity investment company. In addition to long-term capital investment, we will offer our investee companies the opportunity to meet and be guided by some of the most experienced business men and women and investment experts in the UK. I am delighted to welcome Audrey, Stephen, Neil and John to the board of the Business Growth Fund. Together with our shareholder Directors, the BGF board now has an unrivalled combination of investment, banking and business experience to help guide and shape our work for years to come.”
Stephen Welton, Chief Executive of the BGF, says: “All four of our new non-executive directors have first hand experience of leading and growing businesses in the UK and abroad. There is a clear focus on being relevant to business at a local level across the country; a recognition that many of our investments will come from families; and a desire to reach out and nurture a spirit of entrepreneurial success. Their expertise and input as board members will be invaluable to the BGF and to our investee companies. Businesses need to understand that securing investment from the BGF is about more than just money. Our partnership approach and sharing of expertise, guidance and contacts will be almost as valuable as the cash we inject into their businesses. Confidence as well as aspiration are key watchwords of the BGF.”
Biographies for all four of the BGF’s new non-executive directors are listed below.
The Business Growth Fund was launched in May 2011 and is now actively engaged in meeting and assessing the investment potential of dozens of UK companies.
The BGF will invest between GBP2m to GBP10m in established businesses that can demonstrate their ability and desire to grow their companies rapidly, given the right investment and support. Successful companies will have been established for enough time to reach critical mass and to have demonstrated and achieved levels of high growth with outstanding potential. They will need to have a proper business plan and a clear idea of how they might use the BGF’s investment to grow their business over the long term.
