A Banchory based subsea technology company has appointed a new managing director in a move to drive “significant” growth over the next five years.
Ecosse Subsea Systems (ESS) has selected Mark Gillespie for the role.
Mr Gillespie has more than 25 years’ experience in the oil and gas industry, holding senior technical, commercial and contractual management roles in Technip, CSL, GE Oil & Gas, Centrica and Talisman.
More recently he was managing director of Aberdeen-based engineering and project management consultancy PDi Ltd.
ESS founder Mike Wilson said the appointment strengthens the management team and introduces new skills needed to accelerate the business through the next level of growth.
As chairman, Mr Wilson will continue to have strategic oversight of ESS and will concentrate on business-to-business relationships, special projects and technology market penetration and adoption.
He said: “We are bucking the trend and the business is on an upward curve, however, we recognised that for ESS to fulfil its potential we needed to broaden our core management team and Mark Gillespie has impeccable credentials which will enhance our reputation and add value to clients.
“He has a strong track-record of improving the structure and processes of global businesses resulting in significant increases in revenue, he has extensive MD experience in our business sector, and his technical and operational pedigree is aligned with our focus on the oil and gas, decommissioning and renewables industries.
“I will remain very much part of the day-to-day business but will have the freedom to concentrate on improving client relationships and in leading the development of technologies which are relevant to our traditional oil and gas sector clients and the emerging renewables sector.”
Mark Gillespie added: “ESS’s long pedigree in oil and gas and its fast-growing reputation for delivering renewables and interconnector projects puts the business on a strong footing for future growth and this was an attractive proposition which was difficult to refuse.
“The company has developed patented products which have been adapted to suit traditional and emerging markets, and I am looking forward to leading an ambitious management team which will provide an improved service offering to support fast-track growth in the UK and international markets.”
The appointment follows the arrival of Iain Middleton in the new role of commercial manager, which will allow commercial director Keith McDermott to pursue new business opportunities in the Asian and US renewables and oil and gas sectors.
Banchory-based ESS has patented a range of tools which are used in seabed clearance, route preparation, trenching, backfill, pipelay, decommissioning and cable lay operations, and which are adaptable for hydrocarbon, power generation and renewables projects.
The company recently agreed a multi-million-pound revolving credit facility with Handelsbanken which will support larger tenders on renewables and power generation contracts and new business opportunities in the Baltic Sea, Far East and USA.
Turnover is expected to grow in the current year to between £23-£25 million with profits increasing to around £5 million and staff numbers exceeding 50 people.