BGF, the UK and Ireland’s most active growth capital investor, is on track to reach £100m of investment into the Northern Irish market in 2025 after a strong year of deployment in 2024.
Set up to provide long-term, minority investment and value creation support to growing, ambitious SME’s, BGF invested £20m in NI businesses during the past year, while also continuing to support its existing portfolio in the region.
In early 2024, BGF made a multi-million-pound investment into Co Antrim-based kitchen furniture manufacturer Woodland Kitchens to support the strategic acquisition of JTC Furniture Group, a Dundee-based business also operating in the kitchen cabinet market.
This was followed by a significant investment in Connected Health, a premium independent, private all-Ireland homecare services provider, that will underpin in the Republic of Ireland and enhance its position as a market leader within Northern Ireland.
Related: NI homecare patients find improved wellbeing with healthcare tech
In total, BGF has invested in 10 businesses in Northern Ireland since 2015. Portfolio companies such as homebuilder Braidwater, building facades company Clarke Group, and blinds manufacturer Mzuri all recorded strong performances in 2024, while carbon capture technology firm Nuada welcomed the Economy Minister to open its new headquarters and research facility in Newtownabbey.
As a result of continued momentum in 2024, BGF expanded its team with the appointment of investor Matt Jones. Matt will work alongside Chris Nixon, who leads BGF’s investment activities and supports existing portfolio companies on their growth journeys.
Across the UK, BGF saw increased demand for equity finance from a wide range of sectors during the year, in particular healthcare, manufacturing and technology, and continued to invest in a number of family-owned businesses.
Chris Nixon, Investor at BGF, said: “2024 turned out to be another progressive year for BGF in Northern Ireland, during which we added two new investee companies to our local portfolio and, in anticipation of further growth, welcomed Matt Jones to our investment team.
“While uncertainty remains in the macro-outlook, there is a strong pipeline of opportunities for BGF across a range of sectors in NI. The equity market in NI continues to mature and gain traction, and we intend to continue to grow our presence here by supporting the most promising businesses with our flexible, long-term capital investment model.”
More broadly, it has been a significant year for BGF across the UK and Ireland, as it reached a milestone of £4 billion invested since its inception in 2011. BGF also joined forces with other major investors and committed £25m to the Invest in Women Taskforce, which has secured £250m of funding to support female entrepreneurs and female-led businesses across the UK.
Source:Press Release
Read Sync NI's free online Big Data Belfast autumn magazine here.
