A group of oil services industry veterans have set out plans to build a £100m engineering business from Aberdeen after winning backing from a wealthy entrepreneur for an ambitious growth drive.

The Texo Group business developed by the team expects to win business in industries such as oil and gas and telecommunications with an integrated offering covering a range of services. These include inspection, subsea operations support and fabrication.

The company said it will create up to 1,000 new jobs across multiple UK locations.

The business is led by managing director Robert Dalziel, who used to run the Rigmar oil services operation.

A Texo spokesman said the company had won support from a successful entrepreneur who wished to remain anonymous for commercial reasons.

The entrepreneur has the resources to allow the company to grow quickly through acquisitions and by opening facilities.

Texo has established fabrication facilities in Dundee and has acquired a business in that sector in Blyth in Northumberland.

The company said it has already built up a significant order book.

It developed out of a firm that provides inspection services using drones, which has bases overseas.

Texo may hope to capitalise on the drive by oil and gas firms to cut costs and increase efficiency in response to the sharp fall in the crude price since 2014.

Some firms have looked to reduce the number of suppliers they work with, encouraging consolidation in the sector,

Chief operations officer John Wood said Texo expected to challenge the status-quo using new processes and technologies..