FoundOcean flourishing
Scottish-based dedicated offshore construction grouting company FoundOcean has announced its 2012 year-end results, which saw turnover hitting £17.9 million, up 51% on the previous year.
The company’s experience and skills gained in the oil and gas sector together with its successful entry into the offshore wind market meant that FoundOcean’s revenues have nearly doubled in the last two years.
In June 2012, based on FoundOcean’s exceptional order book, strong market position, and growth opportunities in both existing and new markets, Ambienta SGR, Europe’s largest private equity fund focused on the environmental sector, acquired a 35% stake in the company.
The investment enabled FoundOcean to continue with its forecasted growth strategy of expanding its high profile presence in the offshore renewables sector by building additional grout mixing equipment, and employing and training more engineers and operational personnel
The Livingston based company has more than doubled the number of its staff, employing its100th person in 2012; this figure has risen to 129 as of the end of March 2013.
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