Funding deal

Hyspec growth backed by £500,000 from UKSE

Andy Currans, Hyspec operations manager, with Terry Quinn and Michael Douglas

Hyspec Engineering, has received a £500,000 boost from UKSE after securing a number of contracts including a long-term deal for subsea exploration equipment.

The Ayrshire-based company provides precision engineering to the oil and gas, defence, aerospace and renewables sectors and has been on a recruitment drive.

This year it enjoyed its highest order intake since 2018 and the funding from UKSE will provide the firm with the capacity to continue building its portfolio of clients around the world.

Over the next 18 months it will create 15-20 roles, boosting the headcount of 90.

Michael Douglas, finance manager, said: “Imperative to Hyspec Engineering’s legacy is making a positive impact on the local economy. That’s why we are significantly investing in a recruitment drive and enhancing our apprenticeship programme to ensure we are future-proofing the firm with a skilled workforce.”

Terry Quinn, regional executive at UKSE, said: “Hypsec Engineering is a prime example of a Scottish firm that is a force for good within local communities. It is excellent to see the level of investment it is making into expanding the team as it works with local education centres to provide a competitive apprenticeship programme.

“UKSE is proud to support its ambitious growth and we look forward to seeing the firm go from strength to strength.”

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