Growth capital investors BGF said it has added two new team members to its Scotland-based team following strong recent activity in the country and said it is looking ahead to future deal growth.
Gregor Steedman and Michael Berger join the established BGF team in Edinburgh.
Steedman joins as an investor, bringing with him a wealth of experience and insight. Prior to joining BGF, he worked at AAB as a director within the corporate finance team in Edinburgh, providing buy-side and sell-side support to SMEs and private equity clients.
Steedman is a chartered accountant with a decade of experience supporting businesses across a variety of sectors, such as IT, technology, healthcare and business services.
Berger joins the portfolio team at BGF on the back of continued growth within BGF’s portfolio and ongoing positive exit activity.
He brings over 15 years of experience across diverse industries, including energy efficiency, technology, vehicle leasing, and financial services.
Most recently, Berger was an investment director for an ultra-high net worth family office, where he led the formalisation of the SME investment arm, driving strategy, acquisitions, and fundraising efforts.
He was previously head of corporate finance for a non-bank lender and worked in M&A and growth advisory for mid-market firms.
Notable BGF deals during H1 2024 included a multi-million-pound investment in Glasgow-headquartered Glacier Energy, the multi-million-pound funding of Woodland Kitchens to acquire Dundee based JTC Furniture, and follow-on investments into Forres-headquartered Orbex, and Edinburgh-based Hyble.
BGF also successfully exited Kick ICT in January 2024, delivering a 2x money multiple return and 38% IRR.
Paddy Graham, head of Scotland and Northern Ireland at BGF, said: “We are very pleased to welcome Gregor and Michael to BGF.
“Their appointments, and BGF’s track record of positive investment activity in Scotland, demonstrate our continued commitment to providing patient capital investment to the nation’s wide variety of ambitious growth businesses.
“These new hires come as BGF reports strong performance across Scotland and Northern Ireland in the first half of 2024 with the completion of various notable deals alongside a series of strong exits over the last 12 months as the portfolio continues to grow and mature.”
Steedman said: “One thing that really stands out to me about BGF is the dynamic and experienced team, and I can’t wait to be involved in the variety of deals . It’ll be a busy time ahead with a lot of exciting activity coming through the pipeline, and I’m looking forward to getting stuck in.”
Berger said: “BGF’s strong reputation for empowering ambitious companies through long-term, strategic investments aligns closely with my experience and values.
“Having recently joined the Scotland and Northern Ireland team, I look forward to collaborating with the portfolio companies’ management teams to drive meaningful and sustainable results.”