Two brothers are making new plans to further expand their Aberdeen-based vehicle recovery business.
Entrepreneurial duo Harry and Philip Patterson jointly own CARS Recovery, which managing director Harry has run for the past nine years.
With more than £500,000 already invested in fleet upgrades this year, the pair are busy plotting their next move after establishing a dominant position in the local market.
Harry, 30, transferred some of his shareholding to 23-year-old Philip earlier this year to make it a 50/50 joint-venture.
Philip, who joined the company straight from school but left for a spell working in the oil and gas industry, is now operations director.
“I just wanted to make sure we have a level playing field,” Harry said, adding: “ We both work very hard together and are best of friends.
“Who knows what the future brings but having good open communications, being fair and honest and having fun are all key attributes that our father has installed in us over the years.
“He has been and continues to be a great support as chairman of the business.”
The fatherly support comes from well-known oil and gas entrepreneur Mark Patterson, who helped a then 20-year-old Harry buy CARS Recovery from Norman Murray in 2008.
At the time, the Tullos-based business had only six recovery vehicles and a similar-sized workforce.
Within three months of it changing hands, Harry seized the chance to buy out a bigger north-east rival that was going through hard times.
CARS’ acquisition of Balmedie Service Station added 15 vehicles and 15 employees.
The firm now has more than 30 vehicles, all linked to HQ using the latest tracking technology, and a similar number of employees.
Like many businesses in Aberdeen area, CARS has suffered a drop in revenue due to the oil slump.
But it still turns over nearly £2million a year and its owners are actively seeking new income streams.
“We are in a strong position, with no bank debt and cash on our balance sheet,” Harry said.
He added: “We are looking at expanding our business to a wider area and building our garage servicing.”
His father, the former chief executive of marine technology firm Nautronix, which is now part of Westhill-based Proserv, said: “Managing a company like CARS is not easy, especially in this environment.
“Both boys are not scared of hard work or making decisions.”
