Global upstream oil and gas services company Tendeka has secured an £18million funding package from the Royal Bank of Scotland.
The company recently expanded into Aberdeen to meet greater regional demand and further the development of its research and development facilities.
Tendeka says it will use the funding – which includes debt, working capital and acquisition facilities – to support potential mergers and acquisitions activity.
Originally formed in 2008 as a result of the merger of three Shell Technology Ventures companies and the acquisition of two complementary companies, Tendeka has achieved more than 150% growth in the last two years.
The company operates in 18 countries and provides completion and reservoir monitoring products and services to upstream oil and gas.
“We are focused on remaining at the vanguard of our chosen markets, providing unique, in-demand solutions to our global client base,” said chief financial officer Alan Pearson.
“We feel we are in a very strong position and will, with support from RBS, continue to strategically grow our product portfolio and global market share.”
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