Marine technology company Nautronix is looking to new offices in Norway and Brazil to propel it to further growth after a large jump in profits and turnover.
The Aberdeen company, controlled by US private-equity house SCF Partners, increased its presence in Brazil recently.
Its new operation in the city of Macae came not long after the firm established a foothold in the South American country by opening an office in Rio de Janeiro.
Meanwhile, a new office in Stavanger is up and running as Nautronix looks to capitalise on opportunities in Norway. In the company’s latest accounts, released by Companies House yesterday, chief executive Mark Patterson said: “Nautronix sees both Brazil and Norway as key markets for growth of the company and is totally committed to these countries.”
Nautronix posted pre-tax profits of £1.3million for the 12 months to June 30, 2012, an increase of more than 70% on the year before. Turnover was also up by a substantial margin, rocketing by 38% to £11.4million.
Nautronix, which also has an office in Houston, said its order intake increased significantly during 2011-12. Sales were boosted by growing demand for its NASCoM products, which are aimed at improving the safety and monitoring of critical systems offshore.
Nautronix specialises in communication and positioning technology for the global offshore oil and gas industry.
It was founded in Perth, Western Australia, in 1983 but the headquarters were relocated to Aberdeen after Mr Patterson and fellow north-east businessman Ian Suttie acquired the business for about £18million in September 2002.
Early in 2010, Mr Patterson and Mr Suttie sold the business for tens of millions of pounds to SCF Partners.
The exact value of the transaction was not disclosed but was understood to be about £50million.
Mr Patterson, who joined the firm in 1996, re-invested some of the sale proceeds in the business and stayed on as chief executive.
The company opened new headquarters in Howe Moss Crescent, Dyce, last October, having operated previously from offices in nearby Howe Moss Avenue.
Employee numbers averaged 73 during 2011-12, up from 69 the year before but the figure has swollen to more than 100 recently.