An Aberdeenshire engineering company has been given a £5 million injection by Maven Capital Partners in return for a majority stake.
R&M Engineering (R&M) provides integrated engineering and fabrication services to the North Sea oil & gas industry, operating out of premises in Huntly (Aberdeenshire).
It has expertise and infrastructure to carry out large and complex projects, including hydraulic, pneumatic and electrical work. The business undertakes all processes in-house including design, machining, welding and final fabrication.
Established in 1979, it now employs about 70 people, and £13.8 million revenues. It is now starting to complete work on a “build to ship” basis for overseas customers, through its existing key relationships and their connected subsidiaries.
Maven will provide strategic support to R&M through its next phase of growth. The business will look to move into new markets through a Laser Survey & Scanning Division, which will provide a 3D survey capability, using advanced laser scanning technology and software.
The business will continue to be supported by the founder and chairman Robbie Mackay, as a non-executive director, alongside R&M’s current managing director Alan McLean, who will continue to lead the R&M management team, with Ronnie Mackay as finance director.
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