Integrity XL eyes expansion and jobs growth
Aberdeenshire-based multi-discipline integrated service provider Integrity XL is poised to grow its business having invested £1m in the purchase of two 90K liquid nitrogen pumps.
The pumps, procured from Prior Diesel, are essential to the shutdown and maintenance services offered by the company, being used to purge and pressure test pipework and pipeline systems.
The acquisition has been part-funded by a £350,000 loan from the Scottish Loan Scheme (SLS), part of the Scottish Government’s Scottish Growth Scheme, which is administered by the Scottish Investment Bank.
Integrity XL believes the pumps will open the door to more shutdown and maintenance contracts and is aiming to double both its turnover and the size of its workforce by the end of 2020.
The company operates in a number of niche market segments in the oil and gas sector.
Stuart Charles Sinclair, Managing Director of Integrity XL, said: “Thanks to the financial assistance provided by the Scottish Loan Scheme and the XL Group we are firmly on track to fulfil our strategic growth aspirations for the business this year.”
Kerry Sharp, Director of Scottish Investment Bank, said: “Having secured several new contracts in a diverse range of sectors in 2019, 2020 is already shaping up to be another exciting year for Integrity XL. The acquisition of the pumps will help the company sharpen its services and has the potential to create a new revenue stream via the rental market.”
If you’re a small or medium-sized business based in Scotland, you can now access a newly launched loan capital fund which is part of the Scottish Growth Scheme.
The £12m fund, part-funded by the EU, helps accelerate the growth of businesses in Scotland, complementing other private and public sector forms of funding.
For more info and to submit your interest visit www.weareumifinance.scot.