Private equity firm NorthEdge Capital has completed its first deal down south – well, nearly.
The Manchester-headquartered investor has backed a management buyout of Bridge Farm Nurseries, a producer of ornamental plants, flowers and herbs, based in Spalding, Lincolnshire.
The investment, giving Bridge Farm an equity value of around £30m, marks a first deal for NorthEdge’s Midlands office.
The firm manages £540m of funds and has made 20 investments since 2012, including in discount loo roll business Accrol Papers and Middlesbrough-based pawnbroker Ramsdens, both of which have recently floated on the London Stock Exchange.
“We are delighted to have concluded the MBO with funding from NorthEdge, who have been very supportive throughout the process,” said Bridge Farm chief executive David Ball. “NorthEdge and management have a shared vision for the business over the coming years and with this renewed focus we will work tirelessly to ensure that Bridge Farm achieves its full potential.”
EY arranged and advised on the deal.