Venture capital firm BGF has invested £10 million (€11.2 million) in a Lisburn-based manufacturer of window coverings.
The company, Decora, said funding will be used to support its growth through expansion into European markets, strategic mergers and acquisitions and continued investment in product development and infrastructure. It has recently completed the acquisition of a Lithuanian company.
Founded in 1979, Decora designs, manufactures and distributes window coverings across the UK and Ireland. It employs more than 1,000 people at its Lisburn headquarters.
"Pre-Covid, we identified several strategic acquisition opportunities which we are continuing to explore. BGF has delivered on a partnership agreed before the onset of Covid which will put the business in a strong position to continue our growth strategy as the world adapts to the new normal," said Stuart Dickson, the company's chief executive.
In the Republic, BGF is backed by the Ireland Strategic Investment Fund, AIB, Bank of Ireland and Ulster Bank and the firm targets equity investments of between €1 million and €10 million. BGF only takes minority positions.
The firm launched a dedicated fund in the Republic in late 2017 with up to €250 million to invest in small and medium-sized enterprises. It is led here by former IBI Corporate Finance executive Leo Casey.
The company's UK arm was established in 2011 and has since invested more than £2.1 billion in more than 300 companies. Other portfolio companies in Northern Ireland include Braidwater, RiverRidge, Audit Comply, Bob & Berts and Uform.
