– UK, Altrincham – Styles & Wood Group plc, the integrated property services and project delivery specialist, announces – further to the announcement of 19 June 2015 – the appointment of Matt Widdall as Non-Executive Director with immediate effect. Matt joins the board as the representative of the Business Growth Fund.
Matt joined BGF in 2013 as part of the investment team seeking to provide long term growth capital for entrepreneurial companies in the Northern region. Matt has also been involved with BGF’s initiative to extend the firm’s provision of growth funding to listed companies. Matt is a Chartered Accountant, having qualified with Deloitte where he worked for 16 years largely in their corporate finance advisory team. He has been involved in numerous private equity and corporate transaction over that period. Prior to joining BGF, Matt also worked in Lloyds Banking Group as a Director in their Acquisition Finance team.
Tony Lenehan, CEO of Styles & Wood, said “I am delighted to welcome Matt to the Group. The investment commitment from the Business Growth Fund together with Matt’s direct participation at Board level provides real momentum in support of the Group’s growth agenda.”
About Business Growth Fund
BGF is an active UK growth capital investor in small and mid- sized companies. It was established in 2011 as an independent company, with up to £2.5bn to invest and a mandate to support the growth of British smaller and mid-sized businesses (usually generating a turnover of between £5m-£100m).
This transaction marks the second time that BGF has invested in a publicly listed company, following the investment in Victoria plc in 2014. BGF’s investment is unsecured and flexible, in line with its approach as a provider of capital to support companies’ development over the longer term. Investing in listed companies is a natural next step for BGF in its drive to provide long-term equity investment to those growing companies that do not have enough access to this source of capital.
BGF makes long-term equity investments of between £2m and £10m in businesses with the potential to grow and in turn receives a minority stake and a seat on the board.
BGF is backed by five of the UK’s main banking groups – Barclays, HSBC, Lloyds, RBS and Standard Chartered but is a fully independent organisation.
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