BGF backs Woodall Nicholson

The investor declined to provide any information regarding the investment's size, though it said in a statement the capital injection was "substantial". BGF typically invests amounts in excess of £1m.

BGF joins Woodall Nicholson's existing group of existing investors, which includes Enterprise Ventures, RooGreen Ventures and Mosaic Private Equity since an MBO in July 2013.

Woodall Nicholson plans to use the fresh funding to support organic growth and the further production of its environmentally friendly, low-floored bus. It will also use the capital to bring new products to market, such as funeral and emergency services vehicles, and increase production capacity of some existing product lines.

BGF's Matt Widdall will join the company board as part of the GP's investment.

Previous funding
In 2013, Mosaic, RooGreen and Enterprise invested in Woodall Nicholson in an MBO supported by a finance package that included senior debt and working capital facilities arranged by incumbent bank NatWest.

Company
Dating back to 1820, Woodall Nicholson manufactures and sells vehicles that have been converted from stock models from auto manufacturers.

Under the Coleman Milne, Mellor and Coleman Milne Specialist Vehicles brands, the business adapts vehicles from suppliers such as Mercedes, Audi, Ford, Fiat and Iveco for use in public transport, emergency services and the funeral industry.

Woodall Nicholson employs a staff of 230 people.

People
Business Growth Fund – Matt Widdall, Pines Mehta (investors).
Woodall Nicholson – Geoff Hudson (CEO).

Advisers
Equity – Hill Dickinson (legal).
Company – DWF (legal).

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