Business Growth Fund makes first investment in Northern Ireland
Derry-based Braidwater residential housing company will use funding to develop new properties in the local area
The Business Growth Fund (BGF) has announced its first deal in a Northern Ireland business, having backed Derry-based property company Braidwater.
Ran by father-and-son team Patrick McGinnis and Joe McGinnis, Braidwater specialises in affordable high quality housing and builds two to five bed family homes that offer “design and building efficiency”.
The deal, the figure of which is undisclosed, will enable the housebuilder business to develop residential properties across existing sites in the local area.
Braidwater’s Joe McGinnis commented:
“As a family business, we like BGF’s approach and its funding model which is focused on longer term, patient capital.
“We’re pleased to be their first investment in Northern Ireland and we would suggest that, given the large number of family owned small and medium enterprises in Northern Ireland, other companies like ours should look to take advantage of opportunities such as this to create growth in this region.”