ROVOPApril 2015 | Investment News
ROVOP, the independent subsea remotely operated vehicle (ROV) services company, is gearing up for continued development of its fleet and international expansion after securing £10m of funding from BGF in April 2015.
The announcement of the deal came as Fergus Ewing MSP, the Scottish Government’s Minister for Business, Energy & Tourism, officially opened the company’s new £4.2m headquarters in Westhill, Aberdeenshire. The 18,500 sq ft site allows ROVOP’s fleet of ROVs to be managed from one integrated hub and includes its proprietary training academy, ROV simulator, offices and underwater ROV test facility.
ROVs are tethered, unmanned underwater vehicles used by the offshore oil and gas and renewables industries to carry out a wide range of tasks to support wind farm cable lay and on-going inspection; drilling operations; subsea construction; survey and the inspection, repair and maintenance of subsea pipelines, platforms and other infrastructure.
ROVOP was founded in September 2011 and since then has invested more than £40m in its fleet of ROVs while building a strong reputation for quality, reliability and safety. ROVOP is 100% focused on ROV services and therefore provides genuine expert capability to its growing client base. The investment from BGF allowed the company to continue to grow its fleet of ROVs with a capital expenditure programme that would see the expansion of the fleet to around 50 ROVs over the next three years, operating globally.
Earlier in April 2015, the company opened its western hemisphere headquarters in Houston, Texas, hiring experienced industry experts Scott Wagner, Brett “Gonzo” Eychner and Wayne Betts to lead the business, which has already served customers in both North and South America.
Mike Sibson joined the ROVOP board as investor director for BGF.