The BGF investment in Cranfield University-based BHR will be used to grow the company’s core consultancy, and to support additional research and development and the commercialisation of its intellectual property. The new capital will also allow BHR to consolidate and expand into new markets such as the Middle East.
BGF has taken a minority stake in BHR. As a result, BGF senior investment manager Jonathan Earl has joined the BHR board, supported by Aaron Baker who will act as observer.
BHR has also added to its board with the appointment of Michael Stevens as chairman and Paul Winstanley as non-executive director. Stevens was formerly chief executive of Linx Printing Technologies, and currently serves on the boards of Hydro International plc and Stratophase Ltd. Winstanley is the former president and CEO of QinetiQ’s USA presence.
BHR grew out of the British Hydromechanics Research Association, one of the founding research associations established by the UK government in the 1940s.