Global plant, lifting and tool-rental specialist ATR Group has revealed it is investing about £2million in new equipment to meet rising demand in the UK North Sea, Caspian and beyond.
The Aberdeen firm recently secured more than £20million from NBGI Private Equity and Clydesdale Bank to pursue its growth plans.
ATR, which employs about 100 people, now plans to use some of the cash to expand its rental fleet of compressors, generators and lifting gear.
Chief executive Keith Moorhouse said: “Industry demand is rising rapidly and this significant investment in additional rental assets for our portfolio will ensure we can support increased customer demand.
“We have already invested £1million in adding to our rental fleet in the opening months of 2012 and will double this investment over the next six months, with a focus on key equipment vital to exploration and production operations offshore.”
ATR has flourished since a 2007 management buy-in and now boasts annual turnover of more than £17million.