OIL and gas analytics consultancy Hannon Westwood has taken £10 million of funding from private equity firm Energy Ventures.
The business, founded 1993 and which now employs more than 20 people, has offices in Glasgow, Aberdeen and London.
It advises on business development opportunities across the whole oil and gas sector from exploration and production through to acquisitions.
Co-founder Charles Westwood plans to step down but will still have an advisory role at the company.
Ian Norbury becomes acting chief executive while he and fellow existing directors Chris Bulley and Andrew Vinall are also investing as part of the deal.
Mr Norbury said: "The investment in Hannon Westwood by a private equity group well-versed in the oil and gas sector is a sign of great confidence in the business and its growth prospects."
Hannon Westwood said its advice has helped lead to $3.5 billion of investment during the past five years.
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