The transaction represents the fourth investment in nine months for GCP and is set to allow Scopus Engineering to grow both domestically and internationally.
Founded in 1991 by Andy Inglis and Tom Bryce, Scopus conducts precision laser surveys for offshore capturing data for use in engineering and fabrication. While its main operations are in the North Sea, the business has also developed operations in Azerbaijan, Malaysia and Brunei. It plans to open offices in Abu Dhabi and Thailand later in 2013.
Inglis, founder director of Scopus, comments, ‘GCP will provide the new investment to fuel the ambitious plans we have to expand the business and to build on our leading market position.
‘The international opportunity is huge and we expect to build on our success to date in developing new territories.’
As part of the deal, the business has appointed a new chairman. John Forrest, who has held the positions of UK head of Canadian oil and gas company Talisman Energy and director of Mobil North Sea, will take up the position.
Inglis adds, ‘The appointment of John Forrest will assist in developing our strategy and steering our exciting plans.’
Since 2010, Scopus has posted yearly growth of 20 per cent and has increased its turnover to £18 million for the current year.
Kirsty McDonald, investment director at GCP, ‘This is our fourth investment in nine months and supports our ongoing strategy of backing some of the very best businesses with our funding structures in order to support in their next stage of growth.
‘We have been targeting the oil and gas sector and are delighted to have found such a great business to back in Aberdeen.’
Scopus now joins the likes of UK conference and training venue business Etc venues and online travel agent Iglu.com as GCP portfolio businesses. GCP recently closed its oversubscribed £160 million Fund III.