STATS Group Names Two New Directors
STATS Group has appointed two new directors as part of a strategy to double the size of the business. Carl-Petter Halvorsen has joined the pipeline engineering company as business development director while Dave Shand takes up the newly created post of chief operating officer.
The dual appointments will strengthen STATS’ management team and free up chief executive officer Pete Duguid to focus on international development of the company’s unique range of piping and isolation tools for the oil and gas industries.
Carl-Petter Halvorsen has an extensive knowledge of the international energy sector, was a founder of integrity management specialist Flexlife, and was previously business development director at Wellstream.
Dave Shand has worked with number of dynamic fast-growth companies during a 30 years career in the oil and gas sector. He was a director and part of the founding management team of WellDynamics, was operations director with Petroleum Engineering Services (PES) and held senior international roles over a 15 year period with Schlumberger.
STATS Group chief executive officer, Pete Duguid, said: “Both appointments add strength and depth to our existing management team and will allow us to be more proactive in identifying and developing new business opportunities, while reinforcing the existing relationships we have with the major oil and gas operators and service companies.
“Carl-Petter Halvorsen is extremely well known in the international pipeline isolation sector and will greatly enhance our global development and market penetration. The pipelines and subsea industry are key sectors for STATS and Carl-Petter’s reputation will open doors to give us a chance to demonstrate our capabilities.
Dave Shand brings a wealth of experience and wisdom to the table and by taking accountability for the day to day operations of UK and global operations, it will allow me to concentrate on high-level business development. He has spent a lot of time working with niche engineering companies and his understanding of how to get the best out of an engineering-manufacturing service provider will improve operations across the group.
“We have a very strong reputation in the market place but are guilty of not promoting that position vigorously enough and we need to change the perception of being one of the oil and gas industry’s best kept secrets.”
Mr Duguid said the Aberdeen-based business, which employs 150 would double in size as part of its growth strategy and forecast revenues for 2013 are estimated at £27.5 million which would be a 49% upturn on 2012 sales of £18.5 million.
STATS Group appoint two new directors
Pipeline isolation specialist, STATS Group, has appointed two new directors as it gears up for major international expansion following a £7.8 million equity investment.
Former Expro executive chairman, Graeme Coutts, takes on a non-executive role in what is his first appointment since retiring from the global oilfield services company last July.
In a 21 year career with Expro, Mr Coutts held senior roles, including president western hemisphere and chief executive officer, during which time the company was established as a world leader in well flow technologies, employing 5000 people in 50 countries.
Leigh Howarth, former managing director of Petrofac Training Services, has joined the STATS Group board as chief financial officer. In a 15 year career in the oil and gas industry, Mr Howarth’s roles have also included head of Petrofac’s group finance function and more recently supporting UK oil and gas company, EnQuest with its IPO on the London Stock Exchange.
Both directors were introduced to STATS by BGF, which recently acquired an £7.8 million equity stake in the Aberdeenshire-based company. BGF was established to help the UK’s fast-growing smaller and medium sized businesses and the STATS investment marked the fund’s entry to the oil and gas industry.
STATS Group chief executive officer, Pete Duguid, said:
“The calibre of both Graeme and Leigh is outstanding and their appointments represent a statement of clear intent that our business is embarking on an exciting new stage of development.
“Our patented tools and engineering skills are in widespread demand and both Graeme and Leigh’s extensive international experience will be instrumental in ensuring STATS achieves its full potential and captures a significant slice of the global pipeline isolation and integrity market.”
Graeme Coutts revealed he had refused a number of offers to take up executive appointments since his retirement. He said:
“I have had numerous approaches asking me to get involved in a variety of businesses but my criteria was very clear. I want to support local entrepreneurs who stand out from the crowd and will benefit from my experience. STATS Group fits that criteria perfectly and I am looking forward to working with Pete and his team as we take the company to new heights.”
Leigh Howarth added:
“Having worked with large international businesses I believe I bring a range of skills and a depth of experience which will benefit STATS as it seeks to consolidate its excellent reputation and to convert that in to international success.
“With the ongoing support of BGF, we have the financial resources to fast-track development of our product portfolio and to establish a global infrastructure which will deliver ambitious but achievable results in the years ahead.”
STATS Group designs, manufactures, installs and deploys a range of pipeline isolation tools which can make significant savings for oil and gas producers by limiting downtime in event of the need to isolate or shutdown a pipeline.
Based in Kintore, near Aberdeen, the company employs 130 people in the UK, Canada, Middle East and Asia Pacific regions. Revenues of £14 million in 2011 are expected to grow by more than 75% in 2012 to around £25 million.