ATR Group has reorganized its management and executive teams to focus on growing its core business. The tool and plant rental and lifting services specialists, which has seen turnover reach £20 million and a 30% increase in staff, are aiming to capitalize on the opportunities in the wider energy industry.
Mike Salter is joining the Board as a non-executive chairman to assist in building the future strategic direction of the business and provide specialist market sector advice.
Aberdeen-businessman, Mike Salter is currently chairman of Scottish Chambers of Commerce, chairman of Bentec and Ferguson Modular Limited and a non-executive director of various oil and gas companies. A mechanical engineer, with over 30 years experience in the oil and gas industry, Salter was previously chief operating officer of Abbot Group plc, until retiring in 2007.
The management team, headed by Keith Moorhouse -- group managing director, is currently being strengthened with new positions and promotions to be announced in the coming weeks.
Moorhouse explained, "We are in the final stages of securing additional investment funding so that we can fast-track -- organic growth by investing more significantly in people and equipment. Our oil and gas business is strong but there are further opportunities and obvious potential to be exploited. Equally the renewable energy market presents a raft of opportunities which need to be tapped into in the medium term.
"When we acquired the business, with investment from Aberdeen Asset Managers and RBS Structured Finance in 2007, our strategy was to expand at home and overseas largely by acquisition. In turnover terms, we have grown the business from £14 million to over £20 million with a 30% increase in the workforce. This has been achieved from two acquisitions but predominantly from our domestic market after significant investment in our rental fleet. In the current climate, we are re-focusing our strategy to concentrate on developing our core rental business in the North Sea and the Caspian and on generating new business in the renewable energy sector."
ATR Group is the market leader in the rental of specialized tools and equipment for the offshore oil and gas industry maintenance market, operating throughout the UKCS, and the Caspian region.
The group expanded into the provision of lifting services with the acquisition of Bridon International's Baku and Aberdeen lifting operations. ATR operates an integrated quality management system, featuring ISO:9001 accreditation across all group companies.