Scottish diving and marine contractors Caldive has purchased a new renewable services workboat as part of plans to expand in the offshore clean power sector.
The 33-metre vessel Isle of Jura was purchased using the company’s own capital, as well as £7.5m funding from Clydesdale Bank.
Caldive said the Isle of Jura’s high specification and offshore capability will expand its range of operations to north and west Europe and beyond.
The company has also created 18 new jobs to operate and service the ship, taking its total number of staff to 68 across diving, back office, management and service roles.
The business is now aiming to double turnover to £10m from £5m in the next two years, as a direct result of the purchase.
Caldive managing director Iain Beaton said: “This is a colossal step forward for our business. Historically, we’ve been limited to in-shore work, with a 60 mile range from port in which our vessels operated.
“This vessel, besides being far more powerful than those in our existing fleet, provides unlimited navigation – she can go anywhere in the world.
“Clydesdale Bank’s support was essential on this transaction.
“We’ve maintained a close relationship with their team for over 20 years and they’ve consistently backed us throughout periods of smooth, but also choppy market conditions.
“Their track-record of expertise in our sector means they remain the go-to choice as a banking partner.
“Their willingness to support a smaller company like ours with a purchase of this magnitude, speaks to their belief in our operating model and intimate understanding of our business – which we highly appreciate.”
Clydesdale Bank commercial relationship manager Graeme Johnston said: “We’re thrilled to be actively supporting a local firm with a rich heritage in its industry.
“Our help will give their brand a major boost in the renewable energy space – a sector that is often dominated by larger foreign competitors.”
Caldive was established in 2002 and operates as part of the Seafast group of companies.
It provides diving and marine services for a range of sectors including civil engineering, oil and gas, shipping and nuclear power.