ASCO has risen from humble beginnings in a small warehouse in the Granite City to a company with turnover of £516million.
Established as Aberdeen Service Company (North Sea) in 1967, the firm has found success after a turbulent few years.
Asco was restructured in 2004 after pre-tax losses of £2.7million, but the refinancing agreements turned around the company’s fortunes and it reported profits of £15.4million two years later.
Asco was bought by Phoenix Equity Partners for £125million in 2006 and soon set out a 10-year plan, which has so far led to turnover more than doubling from £240million.
The firm wants to double in size in five years, and already this year has expanded with joint ventures in Australia and India, a new base in Oman and increased presence in Norway. It also has bases in the Caspian, Canada, US, Trinidad and Singapore.