Mazars welcomes new arrivals boosting the Midlands funding market

Nick Johnson, corporate finance partner at the Birmingham office of Mazars.

The continued growth in the Birmingham funding market is exciting news for everyone in the business community, according to Nick Johnson, corporate finance partner at the Birmingham office of international tax, accountancy and advisory firm Mazars.

He was commenting on several recent developments that have significantly enhanced the funding on offer locally.

“The local economy is strong and the investment is there to support further growth – the buoyant business scene is being supported by a buoyant funding scene” said Mr Johnson.

Finance Birmingham recently created a new company called Frontier Development Capital, offering growth capital to businesses who want to develop and progress. Funding is available nationwide, up to a value of £5 million.

Palatine Private Equity arrived during the year with a new office in Temple Row.  Led locally by Richard Thomas, they have already completed their first deal, investing £21 million for a minority stake in housebuilder Westleigh Partnerships in a deal worth £65 million.

And even more recently regional private equity house NorthEdge Capital has opened an office in Birmingham at The Colmore Building, with well-known deal creator Rob Freer leading the charge.

Meanwhile established names like LDC and the Business Growth Fund continue to play a major role in the support and development of local businesses.

Mr Johnson said: “The opportunity to access growth and deal funding has increased and ambitious firms can take advantage.

“Notwithstanding a degree of uncertainty, we are heading into 2017 in great shape and that is good news for SMEs, particularly those looking to make the move from small to medium sized businesses.”