ORKNEY-based Leask Marine is aiming to almost double its turnover and workforce after securing a £5.3 million funding package.
The firm received a funding package from Royal Bank of Scotland and Lombard consisting of asset-backed lending, term loan and a working capital facility from its financial partners to acquire essential equipment to undertake several new contracts.
Leask Marine said it is now aiming to almost double its turnover and workforce this season to assist in completing the number of new contracts.
Most recently, the new equipment – which principally included a brand-new Damen Multicat workboat called C-FORCE – towed the world’s most powerful tidal turbine from Dundee to Orkney, further enhancing Orkney’s position as a leader in marine wave renewable technology.
Douglas Leask, managing director of Leask Marine, said: “Our field is one filled with intricacies and requires knowledge and expertise to understand the market – this is something the team at Royal Bank of Scotland and Lombard have in abundance.
"The careful management of our funding by the team has given us the resources, and confidence, to press ahead in the acceleration of our growth plans.”
READ MORE: Private equity-owned North Sea oil firm in carbon capture move
RBS is principal banking partner at this year’s COP26, which takes place in Glasgow, and the partnership is one of many which support the bank’s aim to increase its sustainability credentials.
Margaret Keenan, RBS senior relationship manager, said: “Having worked with Leask Marine for more than 20 years, I am extremely proud that we have helped enable its recent growth which in turn is creating greener and more sustainable communities."
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel