BGF invests in Bayfields

BGF's investment will be used to support the group's organic growth, including further roll-out of its audiology services, as well as its acquisition strategy to double the number of sites over the next four years.

The deal was completed prior to the onset of the lockdown and BGF had been in discussions with management since 2015.

The company has acquired 13 sites within the last four years, according to a statement.

Company
Esholt-based Bayfields offers eye exams and a range of designer glasses and contact lenses to clients across the UK. It has recently diversified its offering by introducing audiology services and hearing aids.

Founded in 2004, the business has since grown to 19 practices, including sites in County Durham, Lancashire, Hampshire, Surrey and Yorkshire. The group currently employs more than 160 staff across the UK and has revenues of £12m.

People
BGF – Chris Boyes (investor); Mark Rigby (investor).
Bayfields Opticians and Audiologists - Royston Bayfield (founder, CEO).

Advisers
Equity – Gateleys, Sandip Khroud (legal).
Company – DSW (corporate finance); Shulmans (legal).

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