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ROVOP

ROVOP specialises in the independent operation of remotely operated vehicles, or ROVs. ROVs are tethered, unmanned underwater vehicles used by the offshore oil and gas and renewables industries to carry out a wide range of tasks to support wind farm cable lay and on-going inspection. 

The business was founded in September 2011 and has built a strong reputation for quality, reliability and safety. It employs around 180 people, with its headquarters in Aberdeen and a site in Houston, Texas. 

BGF first invested in ROVOP in April 2015 and invested a further £10 million in April 2016 alongside the opening of its new headquarters in Westhill, Abderdeenshire. In December 2017, BFG teamed up with Blue Water Energy to commit £56 million of capital to increase its fleet of drones by 50%.

Private equity impact

  • CAPITAL EXPENDITURE PROGRAMME TO GROW ITS FLEET OF ROVs

  • SUSTAINED INVESTMENT SINCE INITIAL BACKING

  • JOB GROWTH FROM 130 TO 180

  • NEW COMPANY HQ

  • ESTABLISHED ITSELF AS A HIGH-QUALITY PROVIDER OF ROV SERVICES

  • RECORD PROFITS OF £7.2 MILLION IN 2017 AND TURNOVER OF £19.7 MILLION, 39% INCREASE ON 2016

Achievements

WINNER OF THE BVCA MANAGEMENT TEAM AWARDS 2015

  • VENTURE CAPITAL-BACKED MANAGEMENT TEAM OF THE YEAR - SCOTLAND

ROVOP



Location
Aberdeen

Backers 
Business Growth Fund (BGF): 2015 - present