North-east oil and gas consultant Altra Energy has seen annual turnover rocket to more than £5million since it came under the wing of its current owner.
The Aberdeen firm was acquired by Norwegian firm Subsea Technology Group (STG) in late 2007, since when it has mushroomed in size from a just handful of staff to nearly 70 employees.
Altra moved recently into the Granite City’s prestigious new Union Plaza building, which also houses other STG-owned operations.
Altra managing director Daniel McGowan said the move from cramped premises in Albyn Place marked a significant development for the firm as it looked to grow business with strong backing from its Norwegian parent.
Mr McGowan has headed up Altra since March 2007, when the firm was owned by oil technology group Vienco.
From turnover of £800,000 in 2006, the company has seen strong year-on-year growth and Mr McGowan is hopeful of further “modest” progress in 2009 despite the subdued economic climate.
He said the company’s diversity – expertise in a broad range of specialist areas – and adaptability would help it to stay on the upward growth curve and stand it in good stead to ramp up expansion when market conditions improved.
Fellow director Raff Celentano said 2009 had been challenging but Altra aimed to benefit from clients looking for new ways of working.
Meeting their changing needs would be key to Altra’s continued success, he said, adding: “We are not a huge company but we believe we can make a big difference to the industry.”