Proserv boss scoops consecutive Entrepreneur of the Year award

Proserv boss scoops consecutive Entrepreneur of the Year award

Posted: October 14, 2013

The chief executive of Proserv has scooped the award for Private Equity Backed Business in the EY UK Entrepreneur of the Year 2013 awards.

David Lamont was praised for the company’s impressive acquisition strategy, its geographical reach and the opportunities for further expansion. During his two years at Proserv, the company has recorded annual organic growth rates of 28%.

Mr Lamont reached the UK final after winning the Scottish Entrepreneur of the Year title in June. At the Scottish awards he had been recognised for moulding “a phenomenal business of a truly global nature”.

Proserv, which is headquartered in Westhill, Aberdeenshire, has fast emerged as a leading industry specialist in exploration & production, drilling, and infrastructure technical solutions and services to the global energy industry.

The company has experienced exceptional growth over the past 12 months particularly in the subsea services sector.

During his time at the helm, Mr Lamont, who has 28 years of industry experience, has overseen Proserv’s acquisition of US-based Total Instrumentation & Controls (TIC), Weatherford International’s subsea controls’ business and, in June, pioneering Australian subsea engineering firm Velocious. Under his guidance the firm has also introduced a new test and manufacturing facility in Aberdeenshire, a research and development hub in Norway and a string of contract wins worldwide.

During August 2012, Proserv revealed annual turnover had soared from $ 175 million (approx £109 million) to more than $310 million (approx £196 million). This success was reflected in the company’s successful refinancing agreement of $215million (approximately £133million). The funding has allowed Proserv to consolidate its position for sustainable growth and future expansion.

Mr Lamont said: “This award is a tribute to the hard work and dedication of everyone at Proserv , indeed we believe it is the Proserv people and the way we work as a team that is the single greatest reason for our success and bright future. To be recognised amongst some of the most successful businesses based in the UK is a fantastic honour and highlights the expertise of those who have helped to build our company into a respected operator across the global energy industry.

“ While I am very proud of this award and what Proserv has achieved over the last few years, I am most excited about what the future holds for us and ensuring we deliver on our very considerable potential.”

Proserv has a 35-year track record in delivering bespoke technologies and services for the energy industry, particularly in the drilling, production, subsea and decommissioning market sectors. The company operates worldwide across several regions and currently employs more than 1,900 people globally.

Proserv was one of several Scottish based businesses to be recognised at the gala event at London’s Park Lane Hilton Hotel, hosted by broadcaster Jeremy Vine.

Jim Bishop, EY Scotland senior partner, said: “This is Scotland’s strongest showing at a UK Entrepreneur of the Year final yet and serves to demonstrate that the country’s entrepreneurial pool of talent is as deep as it’s ever been.

“All of our winners, and indeed our finalists, demonstrate the attributes that are required to build successful businesses while driving job growth and, in turn, the recovery of the UK and Scotland’s economies.”

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