Funding secured from growth finance group BGF’s Bristol team is powering major international expansion at a UK-based clean-energy engineering company.
Severn Drives & Energy (SDE), which BGF supported last year with a ‘significant’ investment, has set up a manufacturing plant in the US to meet rising customer demand for its products and services. 
SDE now expects to triple its US workforce over the next two to three years and is targeting an increase in turnover from £10m to £50m.
The firm’s board has also been strengthened with the appointment of Jon Addis as non-executive chair via an introduction from BGF’s Talent Network.
Jon, an experienced chair, private equity advisor, CFO and investor, was formerly group CFO at UK Power Reserve and regional head at LDC & Royal Bank Private Equity.
He also spent three years as M&A director at Bristol-based plant equipment firm Hydrex, where he led on three acquisitions ahead of its £100m-plus sale.
SDE was set up in Quedgeley, Gloucestershire, in 2010 to provide repair and maintenance services to critical infrastructure installed at wind farms across the UK & Ireland for customers such as EDF, Scottish Power Renewables, E.ON and SSE.
Its new 30,000 sq ft plant in Wisconsin is enabling the firm to strengthen its foothold in the US market while also expanding internationally by manufacturing, supplying and maintaining energy storage systems. 
SDE chief executive officer Jonathan Jones, pictured, said: “We’re excited to be moving forward with our plans to strengthen our standing in the US and accelerate the company’s evolution into additional international markets.
“BGF has played a key role in getting us to this point. We were seeking an investment partner that would have a real impact while sharing our values, and BGF ticked all the boxes.
“The addition of Jon Addis to the team is also a huge endorsement in the potential of our business.
“He shares in our vision and we look forward to working alongside Jon and the BGF team to power our ambitious growth plans.”
BGF investor Alex Garfitt added: “We are proud to be supporting a dynamic, forward-thinking company that is playing a key role in supporting critical renewable energy infrastructure on a global scale.
“Investment in the new US base has seen the company move from making parts, to manufacturing whole systems to meet the complex technological challenges facing the sector.
“Severn’s prospects for further growth are outstanding and we are confident of continuing to build on our strong track record of working with businesses to help them scale internationally.
“Thanks to Jonathan’s inspirational leadership, multi-million-pound BGF investment and Jon Addis’ experience as non-executive director, Severn Drives & Energy is emerging as a dynamic global-facing enterprise and outstanding UK business success story.”
Severn Drives & Energy non-executive chair Jon Addis said: “SDE is a dynamic company supporting the decarbonisation of the power sector globally. I look forward to working alongside Jonathan and the BGF team to support the business as it reaches its vast potential.”
BGF, the largest and most experienced investor in the UK and Ireland, has invested more than £600m in South West businesses since it opened in Bristol in 2011.
