New manufacturing facility is enabling the company to strengthen its foothold in the US market and expand internationally.
Severn Drives & Energy (SDE), a UK-based clean-energy engineering company, is poised for significant international growth after establishing new operations in the US.
Based in New Berlin, Wisconsin, the new 30,000 sq ft manufacturing facility will enable the business to meet rising customer demand for its products and services and to boost future sustainable growth.
SDE 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 new base comes one year after SDE secured significant funding from BGF, one of the largest and most experienced growth capital investors in the UK and Ireland, to support its ambitious growth plans.
Post investment, the new manufacturing facility is enabling the company to strengthen its foothold in the US market and expand internationally through the supply, manufacture and maintenance of global energy storage systems.
SDE has also been bolstered by the appointment of Jon Addis to its Board as Non-Executive Chairman via an introduction from BGF’s Talent Network.
Addis is an experienced Chair, private equity advisor, CFO and investor, and was formerly Group CFO at UK Power Reserve and Regional Head at LDC & Royal Bank Private Equity.
Jonathan Jones, CEO, Severn Drives & Energy, said: “We’re excited to be moving forward with our plans to strengthen our standing in the United States 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.”
Alex Garfitt, investor at BGF, said: “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.”
Jon Addis, Non-Executive Chairman of Severn Drives & Energy, 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.”
