Oil tycoon Ian Suttie has gone into business with Aberdeen brothers Stuart and Calum Melville.
The Press and Journal can reveal that the multimillionaire – now one of Scotland’s richest men – has become chairman of Global Integrated Services, which was taken over by the siblings last year.
Last night, Mr Suttie confirmed his appointment, saying he was looking to help transform it into a leading oil service firm.
He added that the Melville brothers would remain on board.
New accounts lodged with Companies House reveal that Global Integrated made pre-tax profits of £741,387 in 2012, its first year under the Melvilles’ stewardship.
They show the Bridge of Don firm – which provides lifting, inspection, plant, tooling, winches and deck-machinery services – turned over £14.3million during the year.
Calum Melville said he was pleased with the results and that 2014 would bring bigger and better things with Mr Suttie on board. He added: “We have been working hard on the products and services we offer. These results are very encouraging given that we bought the business last year.”
Asked whether Mr Suttie’s appointment was an indication the brothers were selling up, Mr Melville said: “Ian is our chairman; I am not going anywhere.”
Mr Melville, 44, began his career in the oil and gas industry aged 21 when he helped to form Grampian Test and Certification, which subsequently changed its name to gtc before it was acquired by the Cosalt group and became Cosalt Offshore.
He and his brother are estimated to have made £30million in the deal. Both men kept key posts at the Aberdeen-based operation, but resigned in 2010.
Mr Suttie is one of the UK’s richest men, but chooses to avoid the limelight. Asked if he planned to make Global one of the industry’s leading players, he said: “I wouldn’t be involved otherwise.”
Ranked 12th in Scotland in this year’s Sunday Times Rich List with an estimated personal wealth of £450million, the 67-year-old is a director of several companies. His business interests include First Oil, which describes itself as the largest private, UK-owned company producing oil and gas in the North Sea.
He is expected to receive a multimillion-pound return from a North Sea oil find part-owned by another of his companies, First Oil and Gas. The business has a stake in the Kraken development, estimated to have recoverable reserves of 160million barrels.
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