An Underwater survey business

Based in Scotland

The company is a provider of underwater remotely operated vehicle (ROV) services, catering to a diverse range of industries. Services include the provision of surveys for site scoping; and cable, pipeline, jetty and mooring inspections, with additional revenue generated from a crew transport service.

Operating nationwide, the company has developed strong, long-standing relationships with clients across the oil and gas, marine renewables, aquaculture and utilities sectors.
Offered for sale to facilitate the shareholders’ retirement.

Offers invited.

Key Highlights

– Assets to the value of £730k to be included in the sale.

– Holds accreditations that enable operations within the oil and gas sector.

– Generates repeat business from 15 active clients, with some relationships spanning more than 20 years.

– Experienced team in place to manage day-to-day operations.

– Offered as a relocatable opportunity.

Financial Highlights

– YE23 turnover of £633k.

– Adjusted EBITDA of £218k achieved in the same year.

– Currently in the process of bidding for a three-year contract with its oldest client, which is expected to generate up to £350k.