Majority control
≥50% shares/votes or board control
£200m
turnover · full accounts of controlled companies
- Companies
- 122
- Employees
- 1,970
- PBT
- £3m
UK-visible control · growth-capital investor
BGF (Business Growth Fund)
UK companies whose Companies House control chain resolves to BGF (Business Growth Fund), via 52 matched control vehicles. Two views: every company where the firm is a significant-control PSC, and the narrower set it majority-controls.
BGF (Business Growth Fund) is a UK-based growth capital investor founded in 2011. It provides long-term, minority equity investment and support to small and medium-sized businesses across the UK and Ireland, with a focus on growth-stage companies and some early-stage deep tech and life sciences startups; it says it has deployed more than £4.5bn of capital.
All disclosed control
incl. minority (≥25%) PSC stakes
£3.0bn
turnover · 1,046 companies
- Employees
- 18,294
- With accounts
- 150 (14%)
Control structure
Majority control · top platforms by turnover · 122 companies controlled in total
- BGF (Business Growth Fund)
- 75–100% BGF SERVICES LTD £51m · 201 staff
- 75–100% ARC INSPIRATIONS LIMITED £47m · 968 staff
- +1 more controlled
- 25–50% WOODLAND KITCHENS (N.I.) LIMITED £39m · 386 staff
- +1 more controlled
- 25–50% EVOLVE B G LIMITED £21m · 117 staff
- +5 more controlled
- 75–100% BAYFIELDS Z LIMITED £21m · 161 staff
- +17 more controlled
- 75–100% BAYFIELDS Y LIMITED £18m · 134 staff
- 75–100% EYEWORKS LONDON LIMITED
- +14 more controlled
- 75–100% TFP BIDCO LTD £3m · 3 staff
- 75–100% METPRO LIMITED
- 75–100% BGF IRELAND GP LIMITED £514,000
- 75–100% BGF UK ENTERPRISE FUND 1 GP LIMITED £436,000
- 75–100% BGF SMALLER COMPANIES IMPACT FUND LIMITED £233,000
- 75–100% BGF UKEF 3 GP LIMITED £149,000
- 75–100% BGF UKEF 2 GP LIMITED £64,000
Platforms are the firm's accounts-filing holdings; figures are their (consolidated) turnover. Subsidiaries beneath them are already inside that total — shown for structure, not added again.
Largest UK holdings (2026)
Majority control · by turnover · 13 have filed accounts
| Company | PSC control | Turnover | PBT | Emp. |
|---|---|---|---|---|
| BGF SERVICES LTD controlled directly · every link ≥75% | 75–100% | £51m | £4m | 201 |
| ARC INSPIRATIONS LIMITED controlled directly · every link ≥75% | 75–100% | £47m | £-1m | 968 |
| WOODLAND KITCHENS (N.I.) LIMITED controlled directly · every link ≥25% | 25–50% | £39m | £1m | 386 |
| EVOLVE B G LIMITED controlled via 2 hops · every link ≥25% | 25–50% | £21m | £2m | 117 |
| BAYFIELDS Z LIMITED controlled via 2 hops · every link ≥25% | 75–100% | £21m | £-128,900 | 161 |
| BAYFIELDS Y LIMITED controlled via 2 hops · every link ≥25% | 75–100% | £18m | £530,747 | 134 |
| TFP BIDCO LTD controlled via 2 hops · every link ≥25% | 75–100% | £3m | £-2m | 3 |
| BGF IRELAND GP LIMITED controlled directly · every link ≥75% | 75–100% | £514,000 | £25,000 | 0 |
| BGF UK ENTERPRISE FUND 1 GP LIMITED controlled directly · every link ≥75% | 75–100% | £436,000 | £22,000 | — |
| BGF SMALLER COMPANIES IMPACT FUND LIMITED controlled directly · every link ≥75% | 75–100% | £233,000 | £-1m | — |
| BGF UKEF 3 GP LIMITED controlled directly · every link ≥75% | 75–100% | £149,000 | £7,000 | 0 |
| BGF UKEF 2 GP LIMITED controlled directly · every link ≥75% | 75–100% | £64,000 | £3,000 | 0 |
How this is built — and its limits
- Control, not ownership. PSC filings disclose significant control (≥25% shares/votes, board rights, significant influence) — not economic ownership. We never assert a cap table.
- "PSC control" is a band, not an exact stake. Companies House discloses control only in ranges (25–50%, 50–75%, 75–100%), and we show the stronger of the share or voting band on the holding's nearest disclosed edge — the firm's own stake for directly-held companies, the immediate intermediate's for those held through a chain. A band below 50% (or a blank —) here means control rests on board-appointment rights or significant influence rather than a majority shareholding — common in PE structures.
- Every holding is chain-verified. The line under each company ("controlled via N hops · every link ≥X%") is the shortest PSC control chain we found from BGF (Business Growth Fund)'s vehicles down to it — each hop a real Companies House disclosure. Where a company is also controlled by another tracked firm, that's flagged inline.
- Full accounts, not apportioned. A controlled company's figures are counted in full, not scaled by stake. A jointly-controlled asset counts fully under each controller.
- No double-counting. Where a consolidated parent and its subsidiaries both file, only the topmost is counted.
- Coverage is a floor. Only 13 of 122 majority-controlled companies file detailed accounts in our enriched set, so totals understate the true portfolio.
- UK-visible only. Chains that exit to Jersey, Guernsey or other registries terminate there — we can't follow beyond the UK.