Business Growth Fund

Coverage: Blackburn with Darwen, Blackpool, Burnley, Chorley, Fylde, Hyndburn, Lancaster, Pendle, Preston, Ribble Valley, Rossendale, South Ribble, West Lancashire, Wyre,

Finance Type: Business Expansion, Capital Investment, Environmental, Exporting, New Product Development, Plant and Equipment, Renewable Technologies, Research and Development, Technology,

Summary

The Business Growth fund plc (BGF) is a new equity investment company set up between the banks and the government. The purpose of the organisation is to make substantial equity investments into ambitious mid-cap British companies who are set to create the business success stories of the coming years.

The aim of the BGF is to recognise businesses that have real potential and the desire to succeed. Their ambition is to create the household business names and listed companies of tomorrow; businesses that are successful not only in the UK, but around the world.

BGF’s mission: to help build the next generation of world class UK companies.

BGF will support talented management teams and business leaders achieve their full potential by offering 3 ingredients for success:

• Substantial capital
• Superb contacts; and
• Sound counsel.

The BGF are interested in sectors of the economy that have long-term and significant potential for growth, particularly: high-tech manufacturing, software and electronics, leisure and tourism, renewable energy and cleantech, healthcare and life sciences, industrial and business services, outsourcing, and digital businesses. However, they will support businesses with strong credentials in other sectors.  Each company will be judged on its individual merits, not by sector – long-term potential is the key.

The BGF are looking to forge strong links with other investors and investment bodies across the UK, including venture capital trusts and private equity firm e.g. British Business Angels Association to look for mutually beneficial opportunities.

The BGF currently have offices in London, Birmingham and Edinburgh, and are looking to open offices inManchester and Bristol soon. Birminghamwill act as the administrative centre of the company.

Funding Proportion and Investment Criteria:

The BGF use the following Investment Criteria to assess applications:

• Target companies that typically turnover £10,000,000 to £100,000,000 per annum and have been operating successfully for two or more years
• Offer investments of between £2,000,000 to £10,000,000 in return for an equity stake in the business and a seat on the Board
• As Board Members, contribute business guidance as well as capital for growth
• Invest over the long term – five to seven years or more; and
• Consider investment opportunities across all sectors apart from financial services and real estate.

Timeframe:

April 2011 onwards.

Funding: Investments of between £2,000,000 to £10,000,000

Type of Funding: Loan

Project Timeframe - Expiry Date: Sunday 31st March 2013

Eligibility: Target companies that typically turnover £10,000,000 to £100,000,000 per annum and have been operating successfully for two or more years. Any investment in return for an equity stake in the business and a seat on the Board.

Disclaimer: The information above was accurate at the time of publishing. This is a constantly evolving directory and we will amend the details as and when required. Regenerate Pennine Lancashire is not responsible for the accuracy of external information.

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