CLS Offshore has invested £2.5 million in quayside fabrication facilities and business premises at Gorleston, Great Yarmouth.
The Norfolk and Aberdeen-based company secured £2 million finance from Barclays as part of the government’s funding for lending scheme, for a £1.5 million mortgage, plus VAT, for the site.
The loan also provided the company with a 2% lump sum cash back to cover stamp duty land tax and legal expenses related to the acquisition.
The site, which currently houses the company’s headquarters, was previously rented from Ventureforth 2000.
“Being able to own our facilities underlines our commitment to the company,” said managing director Scott McMillan.
“During the current year we have been able to reinvest over 50% of company profits back into the business, to support our long-term growth aims and objectives.”
Changes to the company in the past 18 months also include the introduction of a new recruitment service and dedicated electrical and instrumentation team.