Growth Financial institution Helps Companies Change Arms with Greater than £17m in Succession Offers

The Growth Financial institution of Wales noticed a milestone yr for enterprise succession within the 2021/22 monetary yr, with greater than 40 new administration groups supported as they took management of companies throughout Wales – the best variety of succession offers backed by the Growth Financial institution in a single yr.

Greater than £17m was invested through succession offers in firms in Wales, supporting incoming groups and outgoing house owners throughout a spread of sectors.

Greater than £4.2m of the investments made have been achieved via fairness, accounting for about 1 / 4 of all succession offers.

Within the final 5 years, the Growth Financial institution has invested greater than £50m to assist succession transactions, backing greater than 150 companies.

Enterprise succession – wherein the possession of a enterprise is handed to a different particular person or administration workforce – is a crucial a part of the enterprise cycle, particularly as house owners look forward to retirement.

The Growth Financial institution works with new administration groups to tackle the possession of long-standing firms, by serving to to boost the capital wanted to purchase current companies.

It additionally works with house owners to safe their legacies and move their companies on to new fingers – in addition to serving to them to grasp the worth of their companies earlier than retiring or specializing in different tasks.

Routes to succession embody administration buy-outs (MBOs), administration buy-ins (MBIs), buy-in administration buyouts (BIMBOs) and worker buy-outs (EBs) – and the Growth Financial institution works with administration groups and house owners to contemplate their plans forward of time.

Abbey Glass

One of many companies backed via succession by the Growth Financial institution final yr was Abbey Glass, a Pontyclun-based bespoke glass producer which supplies glazing and different fixtures to builders and industrial companies – together with Whitbread, Marriott & JD Wetherspoon.

Angela Worgan, who served as managing director of Abbey Glass from early 2020, took possession of the enterprise following a succession deal in March this yr.

Angela began part-time at Abbey Glass in an admin assist position in 2006, and labored her approach via quite a few roles – together with venture supervisor and industrial director – earlier than taking up because the proprietor in March.

The deal was backed by the Wales Administration Succession Fund, which is tailor-made particularly to serving to companies present process succession.

Angela stated:

“I’d been MD for a two-and-a-half years, and I’d all the time aspired to succeed in an possession place, both by beginning my very own enterprise or a stake within the enterprise I used to be concerned in myself.

“When our former proprietor was wanting in direction of the long run and retirement, I knew it was the chance to lastly grow to be an proprietor myself.”

She added:

“I’d spoken to some firms who may have offered the finance, nonetheless the steering and assist offered by executives on the Growth Financial institution was what initially me. I knew the deal could be difficult and I would wish assist, so I appreciated the data and experience that they have been in a position to provide”.

“There have to be so many like-minded individuals on the market who assume it’s extremely troublesome to boost the funding monies wanted to co-ordinate such a succession deal, nonetheless there are such a lot of other ways of sourcing that funding.

“Not solely has it allowed us to plan for development, nevertheless it has additionally pushed us in direction of higher governance and opened our minds as a workforce to take the enterprise ahead.”

“We are able to make buy-outs smoother.”

Scott Hughes, Funding Government on the Growth Financial institution, stated:

“We’re actually happy to have hit a milestone yr for succession offers, supporting companies throughout Wales as house owners take a look at passing on their companies and administration groups take a look at the potential of recent possession. This additionally helps us to ship considered one of our elementary targets to retain and protect Welsh-based companies in Wales.”

“We encourage companies to consider succession and take a look at planning for transferring their enterprise early, and to verify they’ve the correct processes in place. We are able to present the assist and funding wanted to make buy-outs as clean as potential.”

For those who’re a enterprise proprietor or administration workforce seeking to purchase or promote a enterprise in Wales, the Growth Financial institution will help with loans and fairness as much as £10 million and follow-on funding.

We’d encourage any companies taking a look at succession to head to our web site to search out out extra.

Gwelodd Banc Datblygu Cymru flwyddyn garreg filltir ar gyfer olyniaeth busnes yn y flwyddyn gyllidol 2021/22, gyda mwy na 40 o dimau rheoli newydd yn cael eu cefnogi wrth iddynt gymryd rheolaeth o fusnesau ledled Cymru – y nifer uchaf o gytundebau olyniaeth a gefnogwyd gan y Banc Datblygu mewn un flwyddyn.

Buddsoddwyd mwy na £17m drwy gytundebau olyniaeth mewn cwmnïau yng Nghymru, gan gefnogi timau a oedd yn dod i mewn a pherchnogion sy’n gadael ar attracts ystod o sectorau.

Cyflawnwyd mwy na £4.2m o’r buddsoddiadau a wnaed drwy ecwiti, gan gyfrif am tua chwarter yr holl gytundebau olyniaeth.

Yn ystod y pum mlynedd diwethaf, mae’r Banc Datblygu wedi buddsoddi mwy na £50m i gefnogi trafodion olyniaeth, gan gefnogi mwy na 150 o fusnesau.

Mae olyniaeth busnes – lle trosglwyddir perchnogaeth busnes i berson arall neu dîm rheoli – yn rhan bwysig o’r cylch busnes, yn enwedig wrth i berchnogion edrych ymlaen at ymddeoliad.

Mae’r Banc Datblygu yn gweithio gyda thimau rheoli newydd i gymryd perchnogaeth cwmnïau hir sefydlog, trwy helpu i godi’r cyfalaf sydd ei angen i brynu busnesau presennol.

Mae hefyd yn gweithio gyda pherchnogion i sicrhau eu cymynroddion a throsglwyddo eu busnesau i ddwylo newydd – yn ogystal â’u helpu i wireddu gwerth eu busnesau cyn ymddeol neu ganolbwyntio ar brosiectau eraill.

Mae llwybrau i olyniaeth yn cynnwys allbryniannau gan reolwyr (Alb), mewnbryniannau gan reolwyr  (MB), mewnbryniannau allbryniannau gan reolwyr (MARh) ac allbryniannau gweithwyr (AG) – ac mae’r Banc Datblygu yn gweithio gyda thimau rheoli a pherchnogion i ystyried eu cynlluniau o flaen amser.

Abbey Glass

Un o’r busnesau a gefnogwyd trwy olyniaeth gan y Banc Datblygu y llynedd oedd Abbey Glass, gwneuthurwr gwydr pwrpasol o Bont-y-clun sy’n darparu gwydr a gosodiadau eraill i ddatblygwyr a chwmnïau masnachol – gan gynnwys Whitbread, Marriott a JD Wetherspoon.

Bu Angela Worgan, a fu’n gwasanaethu fel rheolwr gyfarwyddwr Abbey Glass o ddechrau 2020, yn berchen ar y busnes yn dilyn cytundeb olyniaeth ym mis Mawrth eleni.

Dechreuodd Angela i weithio yn rhan-amser yn Abbey Glass mewn swydd cymorth gweinyddol yn 2006, a gweithiodd ei ffordd drwy nifer o rolau – gan gynnwys rheolwr prosiect a chyfarwyddwr masnachol – cyn cymryd yr awenau fel perchennog ym mis Mawrth.

Cefnogwyd y fargen gan Gronfa Olyniaeth Rheolaeth Cymru, sydd wedi’i theilwra’n benodol i helpu busnesau sy’n mynd trwy olyniaeth.

Dywedodd Angela:

“Roeddwn wedi bod yn Rheolwr Gyfarwyddwr ers dwy flynedd a hanner, ac roeddwn bob amser wedi dyheu am gyrraedd sefyllfa berchnogaeth, naill ai drwy ddechrau fy musnes fy hun neu ran yn y busnes yr oeddwn yn ymwneud ag ef fy hun.

“Pan oedd ein cyn-berchennog yn edrych tuag at y dyfodol ac yn ymddeol, roeddwn i’n gwybod ei fod yn gyfle i ddod yn berchennog fy hun o’r diwedd.”

Ychwanegodd:

“Roeddwn wedi siarad â rhai cwmnïau a allai fod wedi darparu’r cyllid, ond yr arweiniad a’r cymorth a ddarparwyd gan swyddogion yn y Banc Datblygu oedd yr hyn a oedd o ddiddordeb i mi i ddechrau . Roeddwn i’n gwybod y byddai’r fargen yn gymhleth ac y byddai angen cymorth arnaf, felly roeddwn yn gwerthfawrogi’r wybodaeth a’r arbenigedd y gallent eu cynnig”.

“Mae’n rhaid bod cymaint o bobl o’r un anian allan yna sy’n meddwl ei bod hello’n hynod anodd codi’r arian buddsoddi sydd ei angen i gydlynu bargen olyniaeth o’r fath, ond mae cymaint o wahanol ffyrdd o ddod o hyd i’r cyllid hwnnw.

“Nid yn unig y mae wedi ein galluogi i gynllunio ar gyfer twf, ond mae hefyd wedi ein gwthio tuag at properly llywodraethu ac wedi agor ein meddyliau fel tîm i symud y busnes yn ei flaen.”

“Fe allwn ni wneud allbryniannau allan yn esmwythach.”

Dywedodd Scott Hughes, Swyddog Buddsoddi yn y Banc Datblygu:

“Rydym yn falch iawn o fod wedi cyrraedd carreg filltir ar gyfer bargeinion olyniaeth, gan gefnogi busnesau ledled Cymru wrth i berchnogion edrych ar drosglwyddo eu busnesau ymlaen ac wrth i dimau rheoli edrych ar y potensial o berchnogaeth newydd. Mae hyn hefyd yn ein helpu i gyflawni un o’n hamcanion sylfaenol i gadw busnesau Cymreig yng Nghymru.”

“Rydym yn annog busnesau i feddwl am olyniaeth ac edrych ar gynllunio ar gyfer trosglwyddo eu busnes yn gynnar, ac i wneud yn siŵr bod ganddynt y prosesau cywir yn eu lle. Gallwn ddarparu’r cymorth a’r buddsoddiad sydd eu hangen i wneud allbryniannau mor ddidrafferth â phosibl.”

Os ydych chi’n berchennog busnes neu’n dîm rheoli sy’n dymuno prynu neu werthu busnes yng Nghymru, gall y Banc Datblygu helpu gyda benthyciadau ac ecwiti hyd at £10 miliwn a chyllid dilynol.

Byddem yn annog unrhyw fusnesau sy’n edrych ar olyniaeth i weld ein gwefan i gael gwybod mwy.