RMEC makes fast track top 100 league in UK

Oilfield services company RMEC Ltd has been ranked as one of the top 100 highest performing private businesses in the UK based upon significant growth in its sales.

The Forfar-based well intervention equipment firm has secured a place in this year’s Sunday Times Virgin Fast Track 100 list which highlights companies with the most accelerated growth over a three-year period.

RMEC, which is ranked 71st in the prestigious list, is one of only three new entrants to make the league of top 100 companies across the country, and one of only five businesses listed with headquarters in Scotland.

RMEC, which has 28 staff and is based at the founding director’s family farm south of Aberdeen, reported a 55% increase in sales in the year to March 2014 with a turnover of over £9million.

Managing director Bryan Fagan said: “This success is testament to the hard work and drive of the two founding directors Alan Ramsay and Stuart Mathers who have given the business a fantastic platform on which to grow. All the staff at RMEC are very proud of this achievement.”

“The business continues to have a growing reputation within the industry for being the go-to company for rental, new-build, refurbishment and maintenance of oil field equipment. Our team feels like family and every member of it works extremely hard to deliver the highest standards to our clients.”

“We have seen a steady, year-on-year increase in demand for our services and we are well placed to further grow our operations. We’re looking to treble the size of our current workshop and invest over £2million in the rental fleet over the next 18 months. We fully intend to keep growing organically and increase our turnover to £16million by 2019.”

RMEC, founded in 2004 by Alan Ramsay, is a mechanical and hydraulic engineering company specialising in the manufacture, maintenance, repair, testing, recertification and rental of well services equipment for the oil and gas industry. Stuart Mathers joined the company as a Director and shareholder in 2011 to assist with RMEC’s rapid growth.

In April 2014 Mr Ramsay and Mr Mathers successfully sold the company to Maven Capital partners UK LLP, staying on as directors and shareholders in RMEC.

Alan Ramsay stepped down as managing director after 10 successful years. Bryan Fagan was appointed new managing director as part of the Maven deal in April 2014.

Read the article online at: https://www.oilfieldtechnology.com/exploration/18122014/oilfield-services-company-rmec-highest-performing-private-businesses-2020/