Multimillion-pound funding for fabric maker BFF Nonwovens, based in Bridgwater,
Wednesday 20th April, 2016
Bridgwater based technical fabrics manufacturer BFF Nonwovens has secured a multimillion-pound funding package from Business Growth Fund (BGF) and Lloyds Bank.
BFF Nonwovens makes bespoke technical fabrics for niche markets. Its products are used in areas including filtration, packaging, acoustics and advanced wound care.
The business has grown over the past five years, both organically and through the acquisitions of Bolton-based Lantor, a manufacturer of advanced wound care products, and Sterling Materials, which provides activated carbon nonwoven products.
The group now employs more than 160 staff and generates revenue in excess of £20m.
Following the new funding, it is targeting further organic and acquisitive growth, particularly in the automotive, filtration and packaging markets. It is actively considering acquisitions in the UK and across Europe.
The investment was led for BGF by Ned Dorbin, Edwin Davies and Dan Tapson, and for Lloyds Bank in Bristol by Paul Wood and Tom Lloyd-Jones.
BFF Nonwovens chairman David Lamb said: “After a busy and sustained period of growth, we are delighted to be scaling up the business even further with BGF on board.
“BGF’s approach to minority investing means that we keep control of the running of the business while benefiting from their network, long-term financial backing and support.”
Ned Dorbin, who joins the board of BFF, added: “By focusing on quality and technical excellence, BFF has become a business of significant scale and reputation.
“We are pleased to be backing an exceptionally strong management team who have a clear business plan in place. And, we are delighted to be helping yet another company in the South West of England to pursue its growth ambitions.”