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BGF backs engineering consultancy Hydrock for future growth

Investment news
14.09.2018.

Engineering design consultancy Hydrock has received a capital investment by BGF to support and enhance its strategic growth plans.

British owned and founded in 1995, Hydrock delivers a range of engineering services from its UK office network to support property and infrastructure development in a wide range of sectors, including commercial, education, residential, logistics, nuclear, defence and aviation.

In 2018, Hydrock’s notable multi-disciplinary engineering design appointments included a new facility for Gulfstream Aerospace, the proposed Hinckley National Rail Freight Interchange, the latest R&D facility for Dyson at Hullavington Airfield and a high-end waterside apartment development at Chatham Waters in Kent for X1 Developments.

Renowned for its approach to employee engagement and the health and wellbeing agenda, Hydrock has been listed inside the top 40 of the Sunday Times 100 Best Companies to Work For lists for four consecutive years.

Dr Brian McConnell, Chief Executive of Hydrock, said: “In BGF we’ve taken great care to select an investment partner that is culturally the right fit for our business. They support long-term sustainable growth, and in our ongoing discussions it was clear that they place the same value that we do on the importance of creating a great place to work. Infrastructure and the built environment is a vibrant sector that influences issues like changing patterns of mobility, wellbeing and new forms of energy. The sector offers huge opportunities for the growth of our business and the career development of our people.”

Paul Oldham, an investor at BGF said: “Hydrock’s growth to date has been achieved through a strong, stable and committed management team. The business has long-standing client relationships and has shown an ability to successfully grow both its service range and its geographical coverage in the last 3-5 years. We very much admire the culture established by Brian McConnell as founder and CEO of this business, and with such a positive outlook ahead we’re delighted to be supporting Hydrock’s future growth.”

The investment was led for BGF by Paul Oldham, Alex Garfitt and James Skade.

The advisors to the transaction were:

For BGF: KPMG and Burges Salmon

For Hydrock:  Freeths (Ateeq Ahmed)

 

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