We are delighted to have advised Swanbridge Hire & Sales Limited (SHS) on their growth capital fundraising from BGF.
Based in Barry, South Wales, SHS is a specialist provider of high specification industrial scaffolding services, primarily to the Petrochemical and Utilities sectors. The transaction saw BGF invest £5.4 million of growth capital in the Company and is BGF's first investment in Wales.
SHS owner Paul Smith said of the transaction “Over the last decade, SHS has built up a strong position in the scaffolding services market. However, in our business a certain level of upfront investment of equipment and working capital is needed when taking on new contracts and we had reached a point where we felt unable to take advantage of all opportunities available to us. With the support from BGF, we plan to strengthen our core capabilities, develop a broader range of services and expand into new sectors and geographies. This will allow us to best meet the needs of our clients."