Stagecoach owner invests in fire and safety products and services provider OTEAC
30 January 2015
A multi-million pound investment into specialist fire and safety engineering products and services provider OTEAC by Stagecoach owner Brian Souter’s company has paved the way for major growth and global expansion. Following the private equity investment by Souter Investments, OTEAC is embarking on an ambitious growth strategy.
This will see the company expand its services in asset management and integrity, including performance verification, design, engineering, installation and commissioning of specialist fire and safety equipment as well as supply, inspection, servicing, testing and maintenance of equipment.
OTEAC has also opened a new office in Leith, Edinburgh which will primarily focus on its marine division, and is also recruiting for up to 13 different roles across the company, which represents an 18% rise in the number of staff.
The company recently hosted a visit by Sir Brian who was joined by OTEAC board member, Calum Cusiter, and chief executive, Bill Hogarty, who showed them round the firm’s facilities in Maryculter and met with some of the staff.
Chief executive Bill Hogarty said: “This is an exciting time for the company as we seek to expand our services within Scotland and also look to develop our international capabilities.
"With the recent investment, we have put plans in place for major growth which will begin with a recruitment drive throughout the company.
OTEAC Chief Executive Bill Hogarty
"We are recruiting a business development manager who will spearhead our plans for internationalisation by focusing on business growth in oil and gas provinces such as The Americas, Africa, the Middle East and Asia, as well as opening our new office in Leith to support our marine division.”
Brian Souter added: “It’s quite clear from our visit that OTEAC are a company which is going from strength to strength and has a robust development plan in place, which underpins our decision to invest.
"It was a pleasure to have the opportunity to spend some time with the OTEAC team and I was hugely encouraged by the quality of work and commitment of the staff.”
Established in 1985, OTEAC is an international service company offering fire and gas detection and suppression systems and related design and engineering services to the oil and gas and marine sectors globally, together with a complimentary onshore fire and security business serving large private and public sector clients.
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