BGF, a UK and Ireland growth capital investor, has made a multi-million-pound investment in CWC Group, a family-owned specialist care provider based in Co Down.
The investment is the first BGF has made into a female-powered business since it committed at least £300m to the Invest in Women Taskforce’s funding pot to support scaling female-powered businesses over the next five years.
First founded in 1983 by sisters-in-law, Monica Byrne and Imelda McGrady, CWC Group is a healthcare company providing high quality domiciliary, residential nursing and disability care across seven locations throughout Northern Ireland.
Based in Co Down, the business continues to be family-run, now operated by Monica’s daughters, Chief Executive, Aisling Byrne, and Chief Learning and Development Officer, Shauna Byrne.
The investment from BGF will support CWC Group’s acquisition of new sites and develop its service offering in specialist care.
The company has also welcomed Paula Kane to the Board as Non-Executive Chair and David Jones as Non-Executive Director to provide further expertise as the company scales.
Kane was previously the founder and CEO of Ashdale Care Ireland, and Jones is an ex-Deloitte UK healthcare partner.
Byrne, Chief Executive of CWC Group, said: “This investment from BGF comes at an exciting time for CWC Group and will enable us to take the next steps towards developing our care services for our service users and geographical footprint in Northern Ireland.
“We have a solid pipeline of new specialist care homes that will enable us to further support the NI Trusts with high quality, dedicated care facilities for adults with specialist care needs.
“The investment from BGF alongside the experience and know-how of our new Board members will support the advancement of our ambitions and retain exceptional levels of care and dedication to our service users that are at the very heart of our core values.”
The pledge to invest in female-led businesses forms part of BGF’s overall commitment to invest £3bn in high-potential businesses across the UK over the next five years.
Chris Nixon, Investor at BGF said: “CWC Group has an exceptional heritage of providing high quality care services to those in need.
“At a time when there is a shortage of quality facilities to meet demand in NI, we’re looking forward to working with Aisling, Shauna and the wider team to expand their care home portfolio and continue to provide a vital service to communities across the province.”
Aisling Byrne, Chief Executive; Paula Kane, Non-Executive Chair; and Shauna Byrne, Chief Learning and Development Officer, CWC Group.
Economy Minister Dr Caoimhe Archibald said: “I’m delighted that the first investment by the Taskforce is in a local, family-owned, business.
“Women entrepreneurs have a huge contribution to make to the economy but they often face barriers when accessing finance.
“This is a positive announcement as we work to remove those barriers for female-led businesses.”