Troy secures a significant £15.5 million investment from BGF to support its growth strategy
Summary
This has enabled the development of world class support functions, services and platforms that are available to the Troy network; made up of both members and suppliers.This is a significant milestone for the company. We are confident that with BGF as key allies we will maintain our growth trajectory and realise the companys ambition.The new \xa315.5 million investment deal was led by James Skade and Hannah Waters, investors in BGFs Bristol-based South West team.BGF investor James Skade said: This is a great opportunity for BGF to invest in a thriving national business with an excellent reputation and a huge potential for growth. Were delighted to be working alongside Paul and Simon and look forward to supporting the business to deliver on its ambitious growth plans.Simon King, non-exec chair of Troy, said: Im excited to be joining the board of Troy, working alongside the wider team and BGF to capitalise on significant market opportunities and to position the business for further growth.Advisors to BGF on the transaction were Tim Roberts, Martin Davies, Rachael Ruanne and Amy McVey (Burges Salmon), Tom Ayerst and Jack Jones (PwC) . BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. Troy was acquired by Paul Kilbride in 2010 and has grown significantly since to become the largest in its sector in the UK with 420+ suppliers, 400+ members and \xa31.2 billion group buying power.