Business Growth Fund, the growth equity fund supported the UK’s five biggest banks, has invested £5m ($7.8m) in UK-based house builder Cussins.
Cussins secured the equity funding alongside £7m of debt financing from Lloyds Bank Commercial Banking. It will use the cash to acquire additional land, and to build a further 300 houses per year for the next four years.
Jabin Cussins, chief executive of Cussins said: “As a family run business, it was important that we found the right investor to partner with, and BGF’s long term investment approach, focused on growth, was an ideal fit for us.”
Richars Taylor, investment director at BGF, will join the board of Cussins in counjunction with the funding.