Why we invested in.....Bridgeton Steel Structures
Left to right: Brian and Jacquie Garvey of Bridgeton Steel Structures, Steve Gledhill of SJG Consulting, Alex McWhirter, Chief Executive of Finance Yorkshire
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.
“Finance Yorkshire’s Equity Fund has made two investments in York-based BSS. We initially invested £450,000 in November 2014 but made an additional investment of £150,000 in March 2016.
“We have great confidence in this innovative business, which has identified an opportunity to use cutting edge technology to design lightweight, affordable and easy to construct buildings. 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. When you add these qualities together, there are real advantages over traditional building methods.
“The buildings are used in a wide range of sectors including retail, agriculture, waste management and renewable technology. BSS has also started to explore opportunities in the social housing sector as the UK looks to address its housing supply shortage.
“Brian Garvey, Managing Director of BSS, is a highly experienced construction industry professional who launched the company in 2012 with his wife Jacquie. Our first investment enabled them to enhance their CAD software design capabilities, recruit technical project managers and a business development manager to enhance marketing.
“Our continued investment means the business can meet the needs of its largest customers while continuing to develop its core software. Furthermore, it enables BSS to hire an experienced project manager to implement contracts.
“BSS is now on a sustained growth curve. Turnover was £1.6m in 2015 but this is expected to rise to around £3m in 2016. The workforce has grown to 10 people.
“We are looking forward to working with Brian, Jacquie and the team as they identify new markets and customers. There is potential to roll out the business across the UK and they are also exploring opportunities in overseas markets including Ireland and Germany.”
For more information on Bridgeton Steel Structures go to: www.bssyork.com