scaleup week. 19 - 22 September 2022  
News

BGF completes successful exit of Cornwall Insight

BGF News 06.27.2022
Share
Tags BGF News

BGF has completed a successful exit of Cornwall Insight, following its acquisition by Bowmark Capital.

Cornwall Insight is a leading provider of research, data and analysis to the energy sector. The buy-out provides a successful exit for BGF, which backed Cornwall Insight in 2017, providing significant investment and supporting the development of the team, operations and strategy as the business has scaled.

Led by chief executive Gareth Miller, Cornwall Insight has delivered annual revenue growth of over 20% driven by its expanding customer base and the development of products and services in new areas of the energy market such as the fast-growing battery storage sector.  The company has also expanded internationally following BGF’s investment and recently commenced operations in Ireland and Australia.

Cornwall Insight’s publications, analysis and consulting services enable its customers to understand complex policy change; ensure regulatory compliance; value their assets; and enhance their investment strategies.  The company has over 400 customers across the energy sector including investors, generators, suppliers, brokers, governments and corporates.

With most countries committed to net zero by 2050, the global energy system is undergoing a complete transformation requiring unprecedented investment levels.  This has helped to drive strong demand for Cornwall’s services as new and existing industry participants navigate these changes and assess new investment opportunities.

Matthew Simcox, investor at BGF, said: “We’re proud to have played a part in Cornwall Insight’s growth over the last five years. BGF’s funding has supported Cornwall Insight at a critical time, as it has expanded into new, strategic sectors and geographies. We wish Gareth and his team all the best on the next exciting stage of growth.”

We’ve thoroughly enjoyed working with BGF and are grateful for their support in helping us to scale the business to this point. They, and the Board we have built together, have a deep understanding of the energy sector which has played a key role in enabling us to drive growth, scale internationally and deliver new products and services.

Gareth Miller, CEO of Cornwall Insight