BGF scores back-to-back deals with Braidwater, Giggling Squid

The investment in Braidwater is the first completed by BGF in Northern Ireland since the firm's inception. BGF is however no stranger to the house-building segment, having acquired a minority stake in UK home builder Cussins for £5m at the end of last year. The deal was executed by BGF's Leeds team, which also worked on the Braidwater transaction.

Derry-based Braidwater is a house builder that designs and builds affordable residential housing across Northern Ireland. The business is run by founder and executive chair Patrick McGinnis and his son, managing director Joe McGinnis.

BGF also secured a minority stake in Giggling Squid in exchange for a £6.4m investment. Headquartered in Guildford, the company operates a chain of Thai restaurants in Hove, Brighton, Tunbridge Wells, Henley, Reigate, Stratford, Bristol, Salisbury, Billericay and Guildford. The company expects to open new restaurants in Bury St Edmunds, Berkhamsted, Warwick and Esher in the near future.

Having financed its expansion to date through cashflow alongside debt from Barclays, Giggling Squad now aims to accelerate growth across the UK. The business employs around 300 staff and is expected to generate turnover in excess of £12m this year.

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• Topics
• Expansion
• UK / Ireland
• Consumer
• Industrials
• BGF (Business Growth Fund)