Scottish catering company Entier is preparing to grab a bigger slice of international markets after Business Growth Fund (BGF) served up a £6.5m investment.
The Westhill-based company plans to expand its overseas operations, building on its work at 38 remote locations in 23 countries. The business already has a presence in Australia, Canada, Singapore, Trinidad and Tobago, and the United States, and last year picked up a Queen’s Award for Enterprise for International Trade.
Revenues grew by 13% to £44.9m in the year to 30 September 2016 with pre-tax profits rising by 72 per cent to £1.5m.
More than 4,500 people on remote installations such as oil and gas rigs are served meals each day by Entier’s 760 staff. The company counts Apache, Awilco Drilling, EnQuest, Rowan Drilling and Technip among its major clients in the offshore sector
Chief executive Peter Bruce founded Entier in 2008 after running similar services for catering giant Compass, alongside Aberdeen businessman Mike Reilly, former proprietor of the Olive Tree Restaurant in Aberdeen’s west end.
Bruce said: “I’ve said in the past that I want to grow Entier into a £100m company and, with the backing of BGF, I believe we could do far better than that.
“While the price of oil and gas remains low, offshore operators are keeping a keen eye on cost, which presents opportunities for companies like Entier because we are big enough to deliver large contracts, but small enough to work with clients to offer bespoke services on their offshore installations.
“An army marches on its stomach, and we focus on delivering high quality, healthy and nutritious food to offshore workers, to play our part in improving productivity and reducing costs.”
Back onshore, Entier has developed the Fresh chain of cafés situated across Aberdeen as well as providing catering and hospitality services in 20 client offices including Stork, Helix and Archer.
The company also recently acquired Wilde Thyme, the Perthshire-based catering firm, which runs the restaurants at Glamis Castle in Angus and the Glenturret Distillery in Perthshire, home to the Famous Grouse whisky brand.
Mike Sibson, head of BGF’s Aberdeen office, said: “We are most impressed by the way in which Peter Bruce and his team have differentiated themselves from their rivals. They provide a bespoke service and build strong relationships with their clients, and the customer feedback is outstanding.
“We are delighted to be backing one of Aberdeen’s success stories, and to have the opportunity to support Peter and the team in their continued growth.”
Simmons & Company International represented the shareholders of Entier. Nick Dalgarno, managing director of Simmons & Company, said: “Entier has continued to demonstrate strong growth and increase their market share. At what is an exciting time in the company’s strategic development, this transaction represents an excellent deal for BGF and the Entier shareholders, setting the company up for significant future growth.”