24th June 2020
£12M Opticians Group Bayfields Secures BGF Investment
Dow Schofield Watts Corporate Finance in Yorkshire and North East has advised Bayfields Opticians and Audiologists on its investment from BGF.
Bayfields was founded in 2004 by optometrist Royston Bayfield and has its head office in Esholt. It has grown to 19 practices, including sites in County Durham, Lancashire, Hampshire, Surrey and Yorkshire, with 13 sites acquired within the last four years.
The group currently employs more than 160 staff across the UK and has revenues of £12m.
BGF’s investment will be used to support organic growth – including further roll-out of its audiology services – as well as Bayfields’ strategy to double the number of sites through further acquisitions over the next four years.
Royston Bayfield, founder and chief executive of Bayfields Opticians and Audiologists, said: “In the last 15 years, the Bayfields group has grown exceptionally well, whilst keeping front of mind our values, our local relationships with clients and our high-quality expertise through our expanding team of optometry and audiology specialists.
“We are delighted to be welcoming BGF to the Bayfields family as our long-term investment partner. The team has great sector expertise and a real understanding of our vision for the business, which will be invaluable as we enter this next stage of growth.”
Paul Herriott, corporate finance director at DSW, added: “We have admired Bayfields’ customer proposition and growth ambitions over recent years and are delighted to have advised Royston and the team on securing this important investment. The partnership between Bayfields and BGF will undoubtedly support the business to achieve even greater success in this very specialist and evolving market.”
The DSW team included Paul Herriott, Roger Esler and Bibin Johnson.