County L'Derry-based homebuilder Braidwater Group has bought back equity from BGF, bringing to a close a partnership that began in 2015.

Over the past decade, the company has grown from a small local construction business with a turnover of £4 million to one of Northern Ireland's leading housebuilders with annual revenues now at £45 million.

The support from BGF, which made its first Northern Ireland investment in Braidwater in 2015, enabled the family-owned firm to expand its land bank, strengthen its management team and extend its operations across the region. The partnership also provided two follow-on investments to help fund strategic growth.

During this time, Braidwater delivered a number of high-profile developments, including Beech Hill on the Glenshane Road in L'Derry and Castle Hill on the Ballygowan Road in Belfast. In 2019, the company merged with its sister business BW Homes & Construction to form Braidwater Group, allowing it to broaden its work into social and affordable housing.

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Joe McGinnis, CEO of Braidwater said: "We're grateful to BGF for their support over the last decade as we scaled our operations and established the Braidwater Group. Their initial investment gave us the springboard to enter new markets, while follow-on funding instilled us with the confidence to go even further.

"Today, we are in a strong position with a professionalised team, a significant development pipeline, and a clear strategic vision for the next 10 years. Most importantly, this buyback ensures Braidwater remains a family-run enterprise for the future – something that was always important to us. BGF has been a valued and supportive partner throughout this growth journey."

Paddy Graham, Regional Partner at BGF, added: "Our partnership with Braidwater has been one of the most significant for BGF in Northern Ireland. It was our first investment in the region, and it gave us a visible and successful platform from which to grow. The company had a quality product, a strong team, and a compelling market opportunity in 2015 – and the same is true today. We're proud to have supported the business through a period of transformation and are pleased to see the family take it forward with renewed ownership and ambition."

Today, Braidwater operates across Northern Ireland with a strong pipeline of projects and an experienced leadership team in place.