Member Article

BGF invests £2.5 million in Yorkshire’s Horbury Group

The Business Growth Fund (BGF) has announced a £2.5 million growth capital investment in specialist interiors subcontractor Horbury Group.

The BGF the independent investment company established by five of the UK’s high street banks.

Founded in 1993 by Trevor Wragg, the Yorkshire-based interior fitters has a combined turnover of more than £50 million and a workforce of 800 people.

Its clients include major construction companies including Carillion, Balfour Beatty, Kier, and Shepherd Construction.

The £2.5 million BGF investment is the investment company’s thirdin the construction sector, following a £10 million investment in property services business TCL Holdings in May of this year and a £5.4 million backing of scaffolding services specialist SHS Integrated Services in 2012.

Trevor Wragg, founder and managing director of the Horbury Group, said: This funding means that we can act on growth opportunities that we have identified as part of a recent strategic review of our business and market. Our core trades are seeing demand as the construction industry is returning to growth.

“It’s great to know that the enthusiasm and confidence we have for the business and the future is shared by our backers.”

Andy Gregory, BGF regional director for the north of England, added: “Horbury Group is one of a small number of businesses in its sector with the size and scale needed to operate nationally; and as the recovery of the construction industry continues, it is well placed to take advantage of a growing pipeline of work.

“It is one of several businesses that we have backed which are acting on exciting growth opportunities generated by an improving UK construction sector. This is exactly where BGF’s growth capital is intended to help – enabling businesses to capitalise on opportunities that they might otherwise be unable to take full advantage of.”

This was posted in Bdaily's Members' News section by Clare Burnett .