SURVIVEX, the Aberdeen-based survival training specialist, has bolstered its team and plans to expand overseas after clinching a new bank funding deal.
The firm, which delivers courses for the oil and gas sector, has secured a £3.25 million term loan from Bank of Scotland.
It said the funding will help it launch a new office in Dubai, which it plans to follow with a base in Singapore within a year.
Survivex has already invested £1.5m of the loan in a new fire-training rig, with the facility to be used to provide offshore and marine firefighting courses. The first courses are expected to be delivered this month.
Ten new employees will be hired as a result of the investment, five of whom are already on board.
Founded in 2011, Survivex, delivers courses at its purpose-built training centre in Aberdeen and at offshore locations around the world. It employs 82 staff.
Finance director Andy Green said: "The Bank of Scotland has been incredibly supportive of Survivex as a young entrepreneurial business. The funding recognises both the faith they have in our business model and plan, alongside the successes we have had to date.
"Our fire-training and rig-training facilities mean we will be able to deliver all of our UK training courses from our hub in Aberdeen. Our location, within the heart of the UK oil and gas industry, makes it, logistically, much easier for the majority of our customers to attend vital training courses."
Graham Blair, area director at Bank of Scotland, said: "Survivex is one example of a service provider to the oil and gas industry that is looking to expand internationally. It is an exciting time for companies in this space and we are pleased to be able to continue to support growth in the industry."
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