UK based Swanbridge Hire and Sales (SHS), an industrial scaffolding service, has secured £5.4m ($8.8m) of growth capital from The Business Growth Fund Founded in 1998, the 14 year-old company, which is the first in Wales to be backed by the fund, will use the investment to create over 100 jobs. SHS, which is based in Barry, South Wales, will now expand into wider sectors. The chief executive and founder of SHS, Paul Smith, said: “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.” This takes the number of UK businesses invested in by BGF to 17 for a combined value of around £80m. The BGF is backed by a syndicate of UK banks: Barclays, Lloyds, HSBC, Royal Bank of Scotland and Standard Charted Bank. The average amount invested in the small to medium sized businesses has been around £4.7m. BGF tend to invest in companies for between five to seven years.

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