Company Finance Restructuring for Osiris Projects

Posted 21 May 2014

Osiris Projects, part of Bibby Marine Survey Services, has agreed a financial package worth almost £5m to help expand their services and take on additional staff.

The re-structuring, which saw the company move to Santander Corporate & Commercial, will help to enhance flexibility and enable diversification into new markets.

Osiris Projects Managing Director Andy McLeay comments: "We have seen strong demand for our services and the company is looking to expand its operations, particularly into offshore mapping via the chartering of larger vessels."

"This will allow us to operate further offshore, increase the number of days we can be operational at sea, and see Osiris Projects becoming a much stronger competitor in both the oil and gas and renewables markets."

The funding will also allow Osiris Projects to expand its survey teams with plans in place to increase headcount "significantly" from the current 93 employees.

Richard Hennity, Relationship Director at Santander Corporate & Commercial, said: "The business has established a respected and distinct position in the market, which is a testament to its unique staff expertise and highly competent management team. I look forward to working with them all."