Independent research and tech organisation gears up for expansion with £2.6m BGF investment
BHR Group to use growth capital to develop its fluid engineering projects for the industrial and manufacturing sectors
Birmingham-based independent engineering research and tech company BHR Group is the latest firm to join the Business Growth Fund’s (BGF) investment portfolio after securing £2.6m funding in return for a minority equity stake.
Established out of the British Hydromechanics Research Association, one of the founding research organisations set up by the government in the 1940’s, BHR Group specialises in the application of fluid engineering to industrial processes with projects spanning the fluid mechanics sector such as the mixture of nano-fluids, product development and validation of engineering systems.
The firm, which employs over 84 staff including scientists and engineers based out of Cranfield University, also offers integrated design, consultancy and project management solutions such as “intelligent” smart water systems design, and works with a range of clients including Shell and DOW Chemical.
It will use the finance to grow its consultancy offering and to support additional research and development, as well as the commercialisation of its own intellectual property.
The investment will also fuel expansion into new markets such as the Middle East where it claims its expertise are in “great demand”.
As part of the deal, BGF senior investment manager Jonathan Earl has been appointed to BHR Group’s board alongside former Linx Printing Technologies chief executive Michael Stevens who has joined as chairman, and Paul Winstanley, former president and CEO of QinetiQ USA, as non-executive director.
BHR Group managing director, Raghbir Chand, said: “Research and technology organisations such as BHR Group play a pivotal role in taking scientific knowledge and applying this to develop new or improved engineering products and processes.
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“We have been seeking a long-term strategic partner that is able to not only offer the capital investment that we need to deliver the identified growth opportunities but also understands BHR’s history of innovation and shares our passion for supporting our loyal and increasingly international client base.”
Earl, BGF’s senior investment manager, added:
“We have been very impressed with what Chand and the team has achieved to date. BHR has a solid underlying business capable of continued growth, as well as significant IP which the company has started to commercialise. The quality of service that it provides helps other businesses to maximise their investment across a huge array of sectors and applications and being the market leader, BHR is well placed to expand its presence in the field of fluid engineering.”