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NuVideo sees demand from private sector

AN audio visual (AV) specialist is targeting further growth after seeing a big increase in spending from private sector customers.

Growth: NuVideo managing director Martin Cruickshank with RBS relationship manager Bryan Johnston
Growth: NuVideo managing director Martin Cruickshank with RBS relationship manager Bryan Johnston

NuVideo has seen a large uptake in recent months from businesses based in and around Aberdeen which are working in the oil and gas sector.

Traditionally the firm, based in Dunfermline, Fife, has received the bulk of its work from the public sector where it works with clients in the healthcare, political and academic arenas.

While it had previously done occasional pieces of work for clients in oil and gas, it has taken on a number of more substantial projects recently.

These have included control rooms for onshore and offshore facilities, installing equipment in ships and organising video conferencing and AV fit-outs for new office premises.

That also meant it needed to approach bankers at Royal Bank of Scotland to access funding in order to mitigate for the high initial capital costs of some of the contracts.

NuVideo managing director Martin Cruickshank managed to secure £360,000 of funding from the bank.

He said: "We had some customers in oil and gas who we did bits and pieces with but in the last year they have started to spend and we have started to win orders for much bigger projects.

"After a period of time when there had almost been a moratorium put in place on spend, the taps seemed to come on again, particularly in the corporate and enterprise sector.

"There was a lot of prospective business we were quoting for and it became quite clear this was going to have to be funded and the current set up would not allow that.

"Without this support to our working capital we would have had to turn business away."

The increase in activity from clients in the north east of ­Scotland has prompted NuVideo to partner with Aberdeen based ITWorx.

Mr Cruickshank said: "We think we fit quite well and hopefully that will give us a base to do more in Aberdeen.

"We have demonstration facilities in their offices for different equipment which is important for trying to maximise our presence in the oil and gas sector."

The company is on course to reach a turnover in excess of £3 million in the 12 months to June this year, which would be an increase in the region of 25 per cent.

Mr Cruickshank said the business, which employs 18 people, has started its own apprenticeship programme as it has found it difficult to recruit people with the right mix of technical skills.

He also said the order book is looking as healthy as it has since the company was founded in 2003.

He said: "It is not just a case we had some good business. The outlook is bright as well.

"There is business we know we are getting and some we hope to get as well.

"I think we can be optimistic as there does seem to be a good pipeline."

Bryan Johnston, RBS relationship manager, said: "NuVideo is a thriving business and Martin and his team are committed to their customers and to running a successful business."

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Business

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