BGF injects £2.6m into BHR Group

The capital will be used by the group to expand into new regions, in particular the Middle East, and to commercialise its BHR Coolfire high pressure engineering cutting and jetting products. It will also fund the modernisation of the company's Cranfield facility and the purchase of new equipment.

BGF stated it was attracted to the deal by the extent of the company's intellectual property and its recent growth.

Following the deal, BHR has also appointed Michael Stevens as chairman and Paul Winstanley as non-executive director.

The investment is the third made by BGF in quick succession, having recently injected £2.5m into interior subcontractor Horbury Group and £3m into Flowline, a UK-based drainage contractor.

Company
Based in Cranfield, Bedfordshire, BHR is a research and technology company that specialises in fluid engineering. Its services include smart-water systems design and consulting on processes involving the mixture of nano-fluids.

BHR span out from the government-funded BHRA in 1987 and was then acquired by VirtualPie, an integrated engineering services company, in 2011. The two companies merged, choosing to operate under the BHR brand.

The group has a headcount of 84 and has reported year-on-year growth since 2011. Its clients include Shell, DOW Chemical, Mott McDonald and Sellafield.

People
Jonathan Earl is a senior investment manager at BGF and will take a seat on BHR's board. Aaron Baker, an investment associate at BGF, also worked on the deal and will act as observer. Raghbir Chand is managing director of BHR.

Advisers
Equity – Wragge Lawrence Graham & Co (Legal).
Company – Shakespeares (Legal); Barclays (Corporate finance); Aspire Corporate Finance (Corporate finance).

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• Topics
• Expansion
• UK / Ireland
• Support services
• United Kingdom
• BGF (Business Growth Fund)