GCP takes a minority stake in Advanced Insulation, a provider of high performance insulation and fire protection products for the oil & gas industry
Growth Capital Partners is pleased to announce that it has completed a transaction with Advanced Insulation plc (AI) which sees GCP taking a substantial minority shareholding in the company. At the same time this move has allowed a number of minority shareholdersto realise their investment.
Chairman of AI, Ed Weeks, said
After a detailed and careful selection process we are delighted to move into the next phase of our ambitious expansion plans alongside our new partners GCP. Their financial input combined with their understanding and support for our growth strategy will help us to achieve our objectives within a tighter time frame. We very much look forward to working with GCP and welcoming Kirsty McDonald onto the board
Kirsty McDonald, Partner at GCP, added:
Were absolutely delighted to be supporting AI through its next phase of growth.
The business has developed a clear market leading position as an innovative problem solver for clients and has huge potential for further expansion.
This is the second investment from our current fund into the oil and gas sector and we recognise how well placed AI is in relation to market demand. AIs high performance insulation products will undoubtedly continue to be its customers first choice to improve fire protection and increase production efficiency as the industry moves ever further into deeper waters, higher temperatures and more demanding operating environments.
Most importantly, however, are the people with whom were partnering. The management team have an outstanding track record of rapid growth, are steeped in the industry, have world-leading technical expertise and are supported by individuals of the highest calibre throughout the organisation. We feel very privileged to be joining them all.
Advanced Insulation plc is a company that specialises in the manufacture and application of unique syntactic phenolic resin based foam insulation and fire protection systems. Advanced Insulation is a single source supplier for insulation and fire protection systems to the oil and gas industry and represents one of the most respected and progressive names in topside and subsea insulation worldwide.
Source: Press Release on growthcapital.co.uk