Investor behind Nottingham healthy food brand opens city office as it steps up activity in region

It’s already backed a healthy food brand and a growing property firm to the tune of millions – now private investor BGF will step up its activity in Nottingham by launching an office in the city.

The company, previously known as Business Growth Fund, has set up a dedicated East Midlands team at City Gate East, in Tollhouse Hill, to build closer links with businesses and advisors in the region.

It has invested close to £100m in companies across the East Midlands since 2011, including Chilwell-based property firm SDL Group and Ilkeston building materials business Johnsons Aggregates.

Last week, it announced a £10m investment for Basford-based MuscleFood, an online delivery and subscription service selling lean meats, high-protein breakfasts and low-carb meals such as the sub-600-calorie protein pizzas.

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BGF investors Ian Downing and Jonathan Earl, who have 30 years’ experience working in the East Midlands investment community between them having joined the company in 2011 and 2013 respectively, will relocate to the Nottingham office.

Mr Downing said: “The launch of BGF’s Nottingham office signals our intent to provide capital to more businesses in the East Midlands.

“Having already invested almost £100m in the region, there is potential to do more to support businesses located here – from manufacturers and industrial services providers to tech, healthcare, hospitality companies and more.”

They will be joined by Seb Saywood, who has more than 10 years’ experience and was previously a director at the Foresight Group, which has a £40m fund to invest in Nottingham companies.

Prior to that, he worked in corporate finance lead advisory at Clearwater International and trained in restructuring as a chartered accountant.

Alongside Mr Downing and Mr Earl, and supported by a wider Midlands team, Mr Saywood will be responsible for identifying, funding and supporting growing businesses in the East Midlands.

He said: “I am delighted to be joining such an experienced and respected team who have an excellent reputation for being approachable, supportive investors.

“There is a strong emphasis on backing excellent management teams with a differentiated investment approach that includes making longer-term, minority investments. It is a very compelling proposition for ambitious businesses.

“Opening the East Midlands office demonstrates BGF’s confidence in a region that I know contains rich entrepreneurial talent and a very strong professional community.”

BGF has opened 11 offices across the UK and Ireland since 2011, including in Nottingham and Birmingham, and employs a team of 150 investors, portfolio managers and support staff.

It provides patient capital to businesses with revenues typically between £5m and £100m in exchange for a minority, non-controlling stake.

The company invests exclusively in small and mid-sized firms headquartered in the UK and Ireland, and ranks as one of the top 10 most active investors globally.

To date, more than 70 percent of the £1.3 billion BGF has committed has been invested in companies outside London and the South East.

MuscleFood founder Darren Beale said the BGF investment “marks a big step forward in the progression of the company and the brand”.

“The expertise we’re gaining from BGF will help us get in front of important contacts and open doors for us both on the UK high street and further afield,” he added.

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