One of Scotland’s largest diving and marine contractors has purchased a new offshore construction vessel using GB£7.5m in funding from Clydesdale Bank, alongside its own capital.

'Isle of Jura'

From left to right: George Moodie, commercial area manager for North Scotland, Clydesdale Bank. Sandra Wilkie, director, Caldive Ltd. Iain Beaton, managing director, Caldive Ltd. Graeme Johnston, commercial relationship manager, Clydesdale Bank. Image: Caldive

Caldive Ltd has acquired a 33m renewable services workboat, named Isle of Jura, which is anticipated to significantly boost the company’s capacity to service clients in the renewable energy sector, in North and West Europe and beyond.

Iain Beaton, managing director at Caldive, said: “This is a colossal step forward for our business. Historically, we’ve been limited to in-shore work, with a 60 mile range from port in which our vessels operated. This vessel, besides being far more powerful than those in our existing fleet, provides unlimited navigation – she can go anywhere in the world.

“Clydesdale Bank’s support was essential on this transaction. We’ve maintained a close relationship with their team for over 20 years and they’ve consistently backed us throughout periods of smooth, but also choppy market conditions. Their track-record of expertise in our sector means they remain the go-to choice as a banking partner.”

18 new jobs have been created at Caldive to operate and service the ship, taking its total number of staff to 68 across diving, back office, management and service roles. The business is now aiming to double turnover from GB£5m to GB£10m in the next two years, as a direct result of the purchase.

Established in 2002 and headquartered in Invergordon, Caldive operates as part of the Seafast group of companies.

By Rebecca Jeffrey