Marine equipment fabrication and rental specialist Motive Offshore Group has reported contract wins worth more than £16 million since the start of 2021.
Motive, based at Boyndie, near Banff, said that as well as oil and gas rental, manufacturing and inspection work, 30% of its revenue these days was attributable to its “strategic transition” into renewable energy.
Chief executive David Acton added: “As the global journey towards carbon neutrality gathers pace, we have identified significant growth and potential in the renewable energy sector.
“Our knowledge and expertise give us the ability to pursue and increase our market share in this area, whilst creating sustainable project solutions which provide long-term value to our clients.”
Private equity-backed Motive said it had enjoyed a “positive” start to the year, with new appointments, and “significant internal restructuring” also reflecting continued growth.
Earlier this year the Northern Star Business Awards’ latest business of the year consolidated service lines into three key divisions – rentals, engineering, and spooling and inspection.
Former Flowline Specialists chief executive Ross Whittingham and Ben Coutts were appointed managing directors for the rentals and engineering divisions respectively, while Graeme Chalmers became regional manager for the Middle East and North Africa.
Business development director Eddie Moore has relocated to the Far East as regional director of Asia-Pacific.
We have identified significant growth and potential in the renewable energy sector.”
Mr Acton said: “In just over 10 years, we have grown from a team of four to a global company of 200 and it gives me huge satisfaction to see the Motive team achieving great things.”
Launched in 2010 by Mr Acton and fellow director James Gregg, Motive specialises in the design, manufacture, rental and inspection of marine and lifting equipment.
The business is run via five global operating bases, undertaking projects in over 50 countries, worldwide.
EV Private Equity made a multi-million-pound investment in the firm during 2019 in return for an undisclosed stake.
Flowline deal expected to lead to bigger projects
Last December Motive announced it had snapped up fellow north-east energy service firm Flowline for an undisclosed sum.
Motive said the deal would add further impetus to its efforts to diversify into offshore wind, power and utilities, as well as bolster its capabilities in the North Sea and Middle East.
Oldmeldrum-based Flowline turned over £5.3m in 2018-19 and employed about 55 people – all of whom were due be retained, lifting Motive’s total headcount to around 200.
Bosses at Motive said they were targeting “ambitious” growth, with the firm now able to tackle larger projects than before.