BGF exits investment in BHR Group
BGF has exited its investment in BHR Group, after the Bedfordshire-based business was acquired by Framatome, a leading international nuclear energy company. Post-acquisition, BHR Group will become a wholly owned subsidiary of Framatome SAS.
BHR Group is recognised as a specialist in the field of fluid engineering, providing proven and innovative solutions for clients operating in complex, regulated markets.
Framatome’s investment in BHR will strengthen its position in the UK Nuclear market, boosting its expertise in fluid engineering and providing opportunities for growth in the Process and Energy industries where BHR Group has a strong client base and service offering.
BGF originally backed BHR Group in June 2014 and has provided £3.2 million of growth capital investment over the last seven years. BGF’s funding enabled BHR to invest in its facilities, develop its offering and commercialise its own intellectual property. At the point of sale, BHR works with blue chip customers across the nuclear, oil and gas, chemical and water sectors.
Jonathan Earl, investor at BGF, said: “We’re pleased to have agreed the sale of BHR Group to Framatome. Today’s deal is an exciting next chapter in the company’s future and we wish the team every success on the next stage of their journey.”
David Winter, CEO of BHR Group said: “This marks an important new chapter for BHR Group. We are excited by the opportunities that joining a larger group affords. In addition to giving our teams increased opportunity to expand and grow, it also provides our clients access to a broader range of capabilities.
“BGF has been a fantastic partner and we’re grateful for their support to date. Moving forward, the team and I look forward to joining Framatome and playing a key role in delivering its strategic vision”.
Commenting on the acquisition Ralf Gathmann, Director of Nuclear Services, Framatome said: “The acquisition of BHR Group builds on Framatome’s strategy to accelerate growth in the UK Nuclear market. It is a highly complementary addition to our business, with its long-standing client relationships in the Nuclear, Process and Energy industries.”
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