BGF backs STATS Group

The investment will help build the company's fleet of proprietary isolation devices and support international expansion.

The capital injection is the BGF's fourth since the start of 2012 and its first in Scotland.

Debt
Lloyds Bank Wholesale Banking and Markets has increased its working capital funding to STATS as part of the transaction.

Company
Founded in 1998 by siblings Peter Duguid and Lorraine Porter, STATS Group is an engineering-led business providing isolation services for onshore and offshore oil and gas pipelines. Its proprietary tools plug and isolate ‘live' sections of pipelines to enable safe pump and valve replacement and general repair and maintenance, without the need for shutdown or evacuation. The firm has grown organically and through acquisition.

The company is based in Kintore, near Aberdeen, and employs 130 members of staff across sites in Canada, the Middle East and the Far East. In 2011 STATS reported a turnover of £14m.

People
Simon Munro is regional director for Scotland at the BGF.

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