Our companies:
Scopus Engineering

About:

  • Provides electronic survey and engineering services to the upstream oil and gas industry around the world
  • Enables its customers to achieve ‘first time fit’ on repair and maintenance jobs
  • Offices in the UK, Malaysia, Brunei, Azerbaijan and Abu Dhabi

 

Key facts

Sector: Oil & Gas Services
Location: Aberdeen, Baku (Azerbaijan), Malaysia, Brunei, Abu Dhabi
Status: Realised
Website: www.scopuseng.com

Why we invested:

  • Strong track record of rapid growth, a compelling proposition and a leading competitive position, underpinned by its high quality service, deep customer relationships and its world-first Training Academy
  • Benefits from favourable market dynamics, including the ever-increasing maintenance spend in the global offshore oil and gas sector
  • Entrepreneurial, founder-led team with deep sector knowledge
  • Ambitious and well-placed for further rapid growth – including further international expansion and through its engineering services

The deal

Size at investment: £13m
Date of investment: March 2013
Deal type: Minority placing
GCP board member: Kirsty McDonald

How we are making a difference:

  • Provided a flexible funding solution which allowed the founders to take to realise some value, access funds to support the growth of business and begin a long term succession process – all while retaining control of the business
  • Working with management to grow the senior team, including recruitment of Scopus’ first CFO
  • Provided access to a broad network of contacts, particularly to further develop Scopus’ financial management and strategic plans
  • GCP worked alongside management to achieve the successful sale of the business to the listed multinational, Amec Foster Wheeler

 

 

“GCP will provide the new investment to fuel the ambitious plans we have to expand the business and to build on our leading market position”

Andy Inglis, Founder of Scopus Engineering

Exit result

Size: Not disclosed
Sold to: Amec Foster Wheeler
Date of exit: Dec 2014
IRR: Not disclosed
Money multiple: Not disclosed