British Business Bank makes £20million commitment to Northern Ireland’s Cordovan Capital Management Fund III

Today, the British Business Bank has announced a new £20m commitment to CordovanCapital Management’s latest fund vehicle, CCP III LP, with the deal made under the Bank’s new Growth Equity strategy. This represents the Bank’s first commitment to Cordovan.

Founded in October 2011, Cordovan is a Belfast‑based private equity firm that specialises in SME buyouts across the island of Ireland and the UK. As a UK small business private equity specialist, Cordovan takes majority shareholdings in companies, typically via management buy-outs or buy-in transactions, and works very closely with senior leadership teams to help them achieve their growth ambitions.

Led by partners and co-owners Mike Irvine and Daniel Anderson, Cordovan's investment is often a pivotal moment in helping businesses scale, professionalise, acquire or merge with other businesses, and transition or develop SME management teams. The Fund made its first investment in December 2025 via the acquisition of JPS Projects in Manchester.

Adam Kelly, Managing Director and Co-Head of Funds, British Business Bank said: “We are pleased to make this first commitment to Cordovan Capital Management, which has provided vital support to smaller businesses across the UK and particularly in NorthernIreland. Our commitment will unlock additional capital for UK businesses, addressingregional imbalances and driving further economic expansion across the full breadth of the Nations and regions.”

Daniel Anderson, Partner, Cordovan Capital Management said: “The British BusinessBank’s mission to enable small businesses to prosper is deeply aligned with Cordovan’s, so we are delighted to partner with what is one of the UK’s leading institutional private equity investors to deploy capital into the UK and Irish SME community.”