Chemical engineering specialist Aubin Group has reported strong growth following an investment from BGF.
Aubin Ltd, the parent company of Aubin Group, announced that for the 12 months ending 30 June 2013, turnover was £6.5million, up more than 35% from £4.8million during the same period in the previous financial year.
In February 2013, Aubin Group received a £2.25million investment from BGF (Business Growth Fund) established to help the UK’s SME sector. Since then, the company has recorded significant growth in its Well Services division and seen steady expansion by launching new divisions and adding to its team of chemical engineering and subsea experts.
Paddy Collins, chief executive of Aubin Group, said: “We are delighted with the growth we have achieved as a company in the past year. Since the investment from BGF, we have made many advancements at Aubin Group, allowing us the capabilities to provide made-to-measure solutions to tackle tough operational challenges across the subsea sector. We look forward to continuing this progression in materials technology and engineering to deliver tailored solutions in the full life of field of subsea projects.”
Simon Munro, BGF’s Regional Director for Scotland, said: “We saw huge potential in Aubin Group when we invested last year, and the company has gone from strength to strength since then. Aubin Group is exactly the sort of business that BGF look to back and its performance to date has been well ahead of budget. We look forward to charting the company’s continued expansion as it embarks upon exciting and ambitious plans for the future.”
Over the coming months, a major focus for the business will be on developing its Subsea and Integrity divisions, whilst Aubin Group will also aim to expand on the level of work carried out in the Middle East by its Well Services and Pipelines divisions.
Aubin Group launched its integrity management (IM) division, Aubin Integrity, in July 2013 with a range of integrity products, which can be used for subsea repairs as well as corrosion mitigation and plugging. The product line, including sealant product AXI-Lokk, received national recognition earlier this year when it was shortlisted for an Offshore Achievement Award in the category of Emerging Technology.
The introduction of the IM division has also allowed Aubin Integrity to form a strategic partnership with flexible pipe specialist Flexlife to offer an industry first in subsea IM by providing full-service solutions to subsea integrity operations.
Since this time last year, Aubin Group has hired 22 new employees, including managerial appointments, five new graduate chemists and formed a subsea engineering department.
Aubin Group is currently expanding its capabilities in the Middle East, and Well Services and Pipelines Director Raymond Stirton is relocating to the UAE to improve Aubin Group’s service capabilities to local customers. The company is looking to establish a subsidiary company in the UAE to form strategic partnerships in the region, including Saudi Arabia and Iraq.
Recently, Aubin Group signed a partnership agreement with UAE-based global offshore engineering company Marsol International Limited to provide a total pigging solution for non-piggable pipelines.
Looking ahead, the company anticipates further growth in its Subsea division as it trials its game-changing controllable subsea lifting system. Engagement with industry operators and service companies has led the development of the system, which is likely to result in work with a major North Sea operator later this year.