Clydesdale Bank’s relationship with ATR dates back to February 2012 when the Bank provided acquisition and working capital facilities to support the NBGI backed secondary buyout. Since then, the Bank has continued to support the group with increased facilities to finance capital expenditure to support their organic growth. In July 2012, the Bank also supported the strategic acquisition of Underwater Engineering Services Ltd (UES), a business involved in the rental and supply of marine and subsea support equipment.
ATR is a market leader in the rental of specialised tools and equipment principally for the offshore oil and gas industry. ATR differentiates itself from other rental businesses by providing a comprehensive range of added value support services, including outsourced fleet management, health and safety compliance and inspection and certification of equipment. The business has a long-standing, blue chip customer base and a track record of successfully winning contracts with new clients active in the offshore, renewables, subsea and marine sectors. The acquisition of UES strengthens ATR’s subsea capabilities and demonstrates the group’s commitment to developing an integrated surface to subsea rental business.
By focusing on their clients’ requirements and delivering cost-effective solutions, ATR have become recognised as an important and integrated supply chain partner to over 1,200 companies, delivering the rental and sale of high quality plant, tool, lifting equipment and consumables.
ATR Chief Executive Keith Moorhouse said: “Clydesdale Bank’s investment and support since February 2012 has allowed us to take forward our growth plans, both organic and through acquisition. Despite a challenging economic climate, we have been able to rapidly grow the business, expanding our client base, our fleet and our global footprint.”
Clydesdale Bank’s investment and support since February 2012 has allowed us to take forward our growth plans, both organic and through acquisition.Keith Moorhouse, Chief Executive, ATR Group