FW Capital - The Tees Valley Catalyst Fund
FW Capital manages the £10 million Tees Valley Catalyst Fund which offers short-term loans for busin...
Balmoral, the Aberdeen-based deepwater specialist, has secured three Queen’s Awards amongst many other accolades since its inception in 1980 and recently added to that haul by winning a further three prizes.
The privately-owned company has never stood still and is currently going through a process of market repositioning. Recognised for being a leading provider of buoyancy, protection and insulation products, Balmoral is moving from being renowned solely as a product manufacturer to that of a solutions provider.
Jim Milne, chairman and managing director at Balmoral, said: “Without losing our focus on high quality design and manufacturing, supported by continuous investment in our 250,000sqft custom-built facilities in Aberdeen, we have been developing a more proactive and collaborative way of working with clients.
“Our inclusive teamwork philosophy engenders confidence and belief that we can succeed where others might fail.”
Gary Yeoman, sales director, supports this thinking and said: “Our hands-on structured approach has seen the company achieve cost reductions of up to 30% for operators and FEED contractors and is driven by smart application of engineered solutions designed to deliver significant savings in life of field costs.
“Our client-facing team has extensive knowledge of operator needs and qualification criteria. A number of my colleagues sit on industry association committees to ensure that we stay ahead of the game in this respect.”
These strategic moves have paid off with the company seeing revenues increase by almost 20% in the latest financial year with order conversion rising by a similar amount.
In recognition of these achievements, Balmoral secured three prestigious industry awards in recent weeks. Earlier this month the company picked up two prizes at the Energy Industries Council (EIC) national awards in the ‘Service and Solutions’ and ‘Collaboration’ categories.
The week before it secured the ‘Inspiration from Innovation’ gong at the Northern Star Business Awards.
Engineering and projects director, Fraser Milne, says: “Our ability to retain, grow and invest in talent has resulted in the company providing an unrivalled team of technical specialists across chemical science, mechanical and polymer engineering.
“We have genuine strength in depth here at Balmoral, that’s what differentiates us and leads to recognition in the shape of contract wins and, pleasingly, industry peer awards.”
Jim Milne concluded: “We have always strived to deliver the very best products in the market and, now, we’re taking that further by providing turnkey services which we believe are unrivalled in our sector of the industry.
“None of this would be possible without the talented and hard-working colleagues we have here at Balmoral.”