North-east oil service firm Ramco scooped one of the top honours at the British Private Equity and Venture Capital Association (BVCA) Scotland Management Team Awards 2017.
The company, based at Portlethen, near Aberdeen, won the mid-market team category.
Judges said they were impressed by Ramco’s resilience through the difficult global oil and gas market of the past few years.
Chief executive Derek Smith and his team were also praised for investing during a downturn and continuing to grow the business at a time when others were cutting back.
In addition, the award recognised the firm’s success in pursuing growth, market share, internationalisation and profitability.
Mr Smith said: “We’re very proud of our investment strategies which have given us a significant head-start in the oil and gas market as it shows tentative signs of greater activity globally than we have seen in recent years.
“We are looking forward to exciting times in every region as we continue to develop our business.”
Ramco manages the care and maintenance of equipment internationally and is backed by mid-market private equity investor Lloyds Development Capital (LDC).
Mark Kerr, head of Scotland for LDC, said: “The last couple of years have not been easy for anyone in the oil services industry.
“Without clear leadership and the hard work of an excellent senior management team, Ramco would not now be in the position of looking forward to expand strongly over the next few years.”
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