BGF backs Swanbridge Hire and Sales with £5.4m

The fresh capital will allow the company to provide its services to new sectors including nuclear, pharmaceutical and demolition. The GP intends to double the size of the firm in the next three years.

Grant Thornton introduced SHS to BGF. The investment is the GP's first in Wales.

Company
Founded in 1998 and based in Barry, SHS erects and dismantles large-scale scaffolding structures for clients in the petrochemical, oil and power generation sectors.

The company employs 226 members of staff and reported a £14m turnover for the year ending July 2012, representing a 60% increase on the previous year.

People
Paul Oldham, Ned Dorbin and Alex Garfitt worked on the deal for BGF. Oldham will join the SHS board.

Advisers
Equity – Deloitte, Duncan Down (Financial due diligence); Eversheds, Paul Pugh (Legal).
Company – Grant Thornton, Chris Burgess (Corporate finance); Geldards, Andrew Morris (Legal); KPMG, Simon Jones (Tax); Thomas Carroll, Richard Thomas (Insurance due diligence).

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• Topics
• UK / Ireland
• Industrials
• Expansion
• United Kingdom
• BGF (Business Growth Fund)
• Deloitte
• Eversheds
• Grant Thornton
• KPMG