Asco, the oil and gas logistics group, has been refinanced with a £75 million acquisition fund as it looks to reduce its dependency on the North Sea with expansion into the Americas, Middle East and Australasia.
Asco made a pre-tax loss of £10.8m last year, after a £5m profit in 2010, as it took a hit of £12.6m for costs associated with its change of private equity ownership at the end of 2011, its accounts revealed yesterday.
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