BGF helps Scottish businesses ‘fulfil potential’

A growth capital investor has strengthened its support for Scottish businesses.

BGF invested close to £50 million in 2024 and completed three successful exits.

It backed new ventures including offshore survey firm Sulmara, renewables operator Glacier Energy and electric vehicle charging company Trojan Energy, alongside supporting acquisitions including the takeover of Dundee-based JTC Furniture by Woodland Kitchens Group.

The firm also expanded its team with the appointment of Gregor Steedman as investor and Michael Berger to the portfolio team.

Bosses say BGF, established in 2011, has now surpassed £4 billion in investments since 2011, with £400 million injected into Scottish businesses. 

It has also pledged £25 million to the Invest in Women Taskforce, supporting female entrepreneurs across the UK.

Paddy Graham, regional partner, said: “We’ve continued to back a variety of businesses across several sectors in 2024, all of which are driven by exceptional management teams. 

“Positive exits have continued alongside new deal activity, which is testament to the strength and quality of our portfolio.

“Due to the ongoing high level of deal activity, and BGF’s continued focus on growing its presence across Scotland, we have invested further in the Scottish team. 

“This provides us with a strong platform to continue to deliver on our goal of supporting Scottish business to fulfil their growth potential.”

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