A company has purchased its premises for £1.2million to give its clients and staff confidence in the future.
Virtualpie Ltd, based on the campus of Cranfield University, trades as BHR Group, and secured the finance in the form of a commercial mortgage from Barclays to to purchase the 115 year lease of the two acre office and laboratory buildings based site.
BHR Group is recognized as ‘experts in fluid engineering’ by UK and international based clients operating in high value business sectors including oil and gas, chemical, water and wastewater and renewables. It boasts clients such as Shell, GSK, Thames Water, BAE, AMEC and Sellafield.
Managing director Raghbir Chand heads the family owned business and said: “By purchasing the site, it provides our loyal clients and committed staff the stability and confidence to build on our engineering future.
“It provides the ideal UK platform to pursue high value engineering design and performance improvement consultancy assignments globally with new clients. It allows us to build on the breadth and depth of BHR Groups 65 year contribution to and expertise of advanced fluid engineering systems and processes.”
He praised the role of Barclays in backing the vision of the company with its facility loan and making time to understand the vision and growth opportunities.
BHR currently employ 82 staff, the majority being qualified engineers.The team is set to grow globally as the company is achieving 20 per cent growth year on year and building on the strong expertise of its international and multi-cultured staff comprised of 20 different nationalities.
Katie Ryden, senior business manager at Barclays said: “They have a clearly defined strategic growth plan and I am delighted we have been able to help them secure the site on which to grow their business. The loan qualified for a ‘cashback’ facility which has been reinvested into the business.”