Two East Lancashire businesses have been identified in a new report that delves into the top places in the country for private companies to invest.
The report has found that Lancashire, and in particular, Blackburn, is a prime destination for private equity and venture capital investment, and is therefore considered a ‘key player’ in the UK’s growth-led recovery.
Produced by the British Private Equity and Venture Capital Association (BVCA), the report takes a close look at investment in the North West, and is the first in a series of publications that look at the benefits of private equity and venture capital backing on a region-by-region basis.
The benefits, both social and economic, are illustrated by the latest industry data – including how many businesses and sectors are supported, the number of jobs they create and the total investment value – alongside a set of new case studies featuring a number of private-capital backed businesses in Lancashire.
The companies featured operate at all stages of growth and across a broad range of sectors.
Some are fledgling in size but with fantastic potential and others are global exporters of goods, but all have benefitted from the business expertise and guidance that comes with private equity and venture capital backing.
The Lancashire-based companies included in the report are:
Bright Blue Foods – One of the UK’s leading ambient cake and chilled dessert manufacturers of retailer own label, licensed and branded cakes, supplying recognisable retailers across the UK and European market – with headquarters in Blackburn, Hull and Poland.
Vital Energi – A provider of low carbon energy generation, energy distribution and energy management solutions across a number of sectors, with headquarters in Blackburn, London and Glasgow.
Merlin Entertainments – the second largest global operator of location-based visitor attractions and theme parks, including the Blackpool Tower, Sea Life Centres and Madame Tussauds.
The report goes on to identify the attractiveness of the North West as a region for private investment, the role it can, and will, play in the UK’s growth-led economic recovery, and the alignment of firms investing in the region with public policy priority.
The new data, provided by the BVCA, indicates private investment into 420 businesses in the region.
Between 2017 and 2019, £2.6bn was invested into 210 of these firms, supporting close to 50,000 employees.
Michael Moore, Director General of the BVCA, said: “The North West is home to some of the most exciting opportunities in the country for investors and the region is now host to the UK’s most significant private equity and venture capital hub outside of London and the South East.
“At a time of unprecedented challenges, private equity and venture capital investments have supported North West businesses in their recovery and enabled them to provide benefits across their region, compete on a global platform, and to work towards Net Zero.
"This is the public value which private equity and venture capital investment is proud to bring across the nations and regions of the United Kingdom”
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