PSL Energy Ranked UK's Top 30 Fastest Growing Mid-Market Companies
PSL Energy Services Ltd has been ranked in the top 30 of the UK's fastest growing mid market companies.
The Aberdeen based oil and gas service company was placed at 28 in The Sunday Times Deloitte Buyout Track 100 league table.
The Buyout Track 100 is a new league table of Britain's top 100 private equity-backed companies with the fastest growing profits over a two year period.
Companies are ranked according to their annual profit growth over the two years to their latest accounts. Profits had to exceed £1m in the base year, and £3m but less than £50m, in the latest accounts. PSL recorded a 48.7% annual profit growth in the assessment period to December 2005.
Profits are defined as earnings before interest, tax, depreciation and amortisation (EBITDA), a measure generally used by private equity houses as the best indicator of a company's profit.
PSL Energy Services managing director, Doug Duguid, said: "We are delighted to make our debut in the inaugural Buyout Track 100 table and this is yet another indicator of strong progress we have made in the last two years.
"This high ranking is a result of the continued success we have enjoyed by providing a comprehensive range of highly competitive integrated services to our traditional North Sea customer base in addition to rolling those services out to carefully targeted international markets.
"Our highly committed staff deserves a pat on the back for their hard work in building the company in to a major force and we look forward to improving our league position in 2007."
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