Components maker backed by BGF

A Diss-headquartered provider of electronic products to the motorsport and automotive sectors – whose components are used by the likes of Formula 1, GT Racing, Bugatti and Ferrari – has secured the backing of the BGF.bf1systems was founded in 1994 and designs and makes high-precision components such as steering wheels and temperature monitoring systems.The business employs more than 100 staff in Norfolk and also has a facility in Romanic.The £2.4m investment from BGF will support bf1systems’ long-term growth strategy, including the expansion of its product offering and development of new partnerships.Adam Robson, chair of BGF-backed composites manufacturer Prodrive Composites, will join the board as non-executive chair.BGF was advised by Mills & Reeve (legal), Wilkins Kennedy (financial) and Grant Thornton (tax) while bf1systems was advised by JDC Corporate Finance (CF advisory) and Hewitsons (legal).