Aiming for £100m+ turnover
Entier in £6.5m BGF backing for expansion
Entier, Scotland’s largest independent privately-owned catering company, has received £6.5 million from the Business Growth Fund to expand its overseas operations.
The company, based at Westhill in the north east of Scotland, plans to build on its contracts at 38 locations in 23 countries after last year picking up a Queen’s Award for Enterprise for International Trade.
It serves more than 4,500 people meals each day on oil and gas rigs and other remote installations around the world. Major clients in the offshore sector include Apache, Awilco Drilling, EnQuest, Rowan Drilling and Technip.
Chief executive Peter Bruce founded Entier in 2008 after running similar services for catering giant Compass, with Aberdeen businessman Mike Reilly, former proprietor of the Olive Tree Restaurant in Aberdeen’s west end.
Mr Bruce said: “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.”
Back onshore, Entier has developed the Fresh chain of cafés 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.
In addition to its permanent premises, Wilde Thyme provides catering at various venues including the new Barn @ Bara Castle in Aberdeenshire & Carlowrie, Cluny and Drumlanrig castles. Wilde Thyme is the only hospitality company covering all of the National Trust Sites in Scotland.
Revenues grew by 13% in the year to 30 September 2016 to £44.9m despite the industry downturn in the prices of oil and gas. Pre-tax profit rose by 72% to £1.5m.
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.
“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: “Despite the backdrop of challenging market conditions, 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.”