Bridgeton Steel Structures
Growth Fund - Loans & Equity Case Study
Bridgeton Steel Structures (BSS), based at Elvington near York, uses its own computer-aided design (CAD) software to design lightweight, steel-framed building systems, ranging from standard industrial units to architecturally-driven solutions.
BSS designs offer simplified construction, quality, consistency and speed when compared to traditional building methods. They are economical to transport and can be built within a week, depending on size. The high strength to weight ratio of the steel frames reduces foundation requirements, saving companies money on their pre-build costs.
The buildings are used in a wide range of sectors including retail, agri-business, waste management, renewable technology and local authorities. Recent developments include a distribution centre for a confectionery business in Devon.
Brian Garvey, Managing Director, is a construction industry veteran who worked on the Athens Olympics in 2004. He launched BSS in 2012 with his wife Jacquie. But with a small team, BSS needed funding to employ more people so that Brian could build relationships and generate new business. It also needed to enhance its CAD software.
Finance Yorkshire Involvement
Finance Yorkshire provided a £450,000 Equity Linked investment, which will be used to support the development of the business, including enhancing its CAD software design capabilities, recruiting technical project managers and hiring a business development manager to enhance marketing.
The Investment Rationale
Finance Yorkshire Chief Executive Alex McWhirter said: “Bridgeton Steel Structures is a great example of the type of companies that we’ve supported. There are few individuals with as much experience in building fabrication as Brian and we look forward to supporting him and his company as he expands and creates more jobs.”
Brian concludes: “This is just the start. We are looking to set up a network of contractors and suppliers throughout the UK. There are also massive export opportunities throughout the developing world.”
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire