THE office serving Wales for the £2.5bn Business Growth Fund (BGF) has appointed Ned Dor-bin as a senior investment manager.
The fund, established to support growing small and medium sized businesses by providing long-term equity investment, has its regional office serving the Welsh and south-west of England markets in Bristol. It is headed by Paul Oldham, former corporate finance director for Grant Thornton based in Cardiff.
It follows the appointment of James Austin as investment director in December and brings BGF’s Bristol based team to four and its UK-wide investment team to 51.
Mr Dorbin has acted both as an adviser and investor for small and medium-sized businesses, most recently with Maven Capital Partners where he spent five years. Prior to that, he trained as a chartered accountant at BDO and then worked in their corporate finance lead advisory team.
Regional director for the BGF Mr Oldham, who lives in Cardiff, said: “I am delighted to welcome both Ned and James to BGF’s South West and South Wales regional team and see this as a very positive start to 2012.
“Clearly economic conditions continue to be challenging; but we need companies to be considering the opportunities and focusing on what they can influence. Lack of investment cannot be a long-term strategy for a successful growing business.
“It can only lead to decline. Our message to businesses is that now is a great time to invest.
“If you wait until tomorrow, your competitors may have got there first.”
Mr Oldham said the BGF will be focused on finding, encouraging and supporting ambitious business owners and helping them to envisage what they could do with new capital and our support.”
The Bristol office is looking to back smaller and medium sized businesses from the South West and South Wales with an annual turnover of approximately £5m to £100m.
Businesses that meet the BGF’s investment criteria will be offered long term capital of around £2m to £10m, in return for a minority equity stake in the company and a seat on the board for a BGF director.
Mr Oldham said he is continuing to talk to a number of Welsh-based businesses over potential investment deals.
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