We partnered with the ambitious, entrepreneurial founders of Scopus Engineering, providing a minority investment in March 2013. They are a leading provider of engineering and precision survey services to the global energy sector, primarily international oil companies and major engineering firms.
Scopus had created a compelling and distinct service offering in a very large and untapped market with high barriers to entry. Demand was unpinned by robust maintenance-driven requirements and Scopus had deeply embedded customer relationships and was well known for providing a high quality service. The business had achieved rapid growth and strong financial performance with plenty more to go for.
The business had received inbound approaches from both trade buyers and private equity investors, and GCP was their preferred investor due to our partnership approach, flexible structuring, and shared ethos and values.
The business doubled profitability over two years to FY14, and in December 2014, we worked alongside management to achieve the successful sale of the business to a listed multinational, Amec Foster Wheeler.