Lending package boosts MMS

The Hull, UK-based business used a £2.3 million cash injection from the Bank, arranged by Relationship Managers Daniel Ruston and Peter Hough, to invest in a 26-metre Fast Crew / multi-purpose offshore support vessel, that will enhance its ability to service key customers and strengthen its foothold in a competitive market.

MMS Offshore Renewable Services is based on the Humber river at the hub of the North Sea’s shipping route. It owns and operates a fleet of professionally operated workboats, which offer clients services including equipment supply, crew transfer, civil engineering support and offshore survey work.

The new vessel, named MMS Supreme, will double MMS Offshore’s capacity to support its wind farms customers in the North Sea.

Rob Langton, Managing Director at MMS Offshore Renewable Services, said: “Our investment in this state-of-the-art vessel signals the next stage of our growth strategy and will allow us to improve our overall service and increase our presence in the market.

“We have worked with Yorkshire Bank for over 20 years and their ongoing support has been hugely appreciated.”

Daniel Ruston, Corporate and Commercial Relationship Manager at Yorkshire Bank, said: “We’re proud to be backing a well-established business with a rich heritage of supporting the maritime and marine sector in its native Hull, which is one of the city’s most important industries.

“Investment in the Humber’s offshore wind sector is steadily growing and the management team at MMS Offshore Renewable Services are in a prime position to capitalise on this trend. As a Bank, we’re committed to supporting SMEs across the region and look forward to working with the business into the future.”

MMS Offshore Renewable Services Ltd is a subsidiary of MMS Ship Repair and Dry Dock Co. Ltd, which was established in 1988 and provides a complete repair and refit service for ship owners across Hull. The offshore arm of the company was built to assist the growing UK offshore wind power industry.

Yorkshire Bank is a subsidiary company of Clydesdale Bank PLC.

By Jake Frith