BOOST&Co has increased its investment in businesses in the north of England and Scotland following heightened demand for alternative forms of funding. With awareness of alternative growth solutions rising among companies in the region, the lender has been able to extend its funding to firms in thriving sectors such as technology, media and telecommunications (TMT).
In March, BOOST&Co hired three new principals to join its northern team, led by Ryan Sorby, head of the north and Scotland. The lender has invested £64m, across 19 deals, in UK businesses since its Manchester office opened, and has lent £20m since the northern team’s recent expansion, providing much-needed access to funding for companies and cementing BOOST&Co’s presence in the north west, Yorkshire, the north east and Scotland.
BOOST&Co has also been named in a shortlist of six contenders for the Funder of the Year prize at the 2021 North West Rainmaker Awards, which are due to be announced on Thursday 9 September.
With experts on the ground, the lender has been able to support the growing number of businesses that are strongly aligned with the aims of the Northern Powerhouse, including companies that will support digital transformation in the region. BOOST&Co has further ambitions to expand its portfolio and is also actively seeking to bring more experience into the team, to further diversify its lending appetite to a broader range of end markets and transaction types.
BOOST&Co offers loans ranging from £1m to £10m, covering a wide range of sectors, with a strong track record in TMT. The independent asset manager has funded more than £500m across more than 130 deals, and provided close to £200m under the government’s CBILS initiative to support SMEs during Covid-19.
‘Strong entrepreneurial spirit’
Ryan Sorby, head of the north and Scotland at BOOST&Co, says: “There are still challenges for many, but in general, the business landscape in the north is flourishing, and we’re seeing some exciting and impressive businesses looking to scale across the region.
“However, many companies here are still unaware of the opportunities available to them through alternative funding routes. The strong entrepreneurial spirit in the region is very much aligned with our ethos, so we’re really happy to be able to support their ambitions and provide even more firms with the capital they need to expand, often providing a bespoke structure for the borrower.
“Since the growth of our team, there has been a real opportunity for us to offer high-quality funding to even more SMEs across the north and Scotland. We’ve seen funding opportunities of well over £850m already this year, showing that there is a significant demand. As we continue to expand and the calibre of northern businesses continues to rise, it’s an exciting time for companies here to feel supported and to achieve their potential.”
Find out more about BOOST&Co’s growth loans here