In addition, Bank of Scotland has provided the company with a £500k debt facility through the Government’s Funding for Lending scheme.
Established in 1986 and led by Managing Director Paddy Collins Aubin supplies specialist cementing and stimulation chemicals used in drilling and preparing wells for production. The majority of its chemicals sold into markets in the Middle East.
Over the last few years, it has developed two new gel based product lines.
The first product line, pipeline and pigging gels, are used to treat and clean pipelines where standard products will not work.
The second one include a range of gel-based technologies for buoyancy, pipeline insulation and pipeline sealing.
The company intends to use the proceeds to the investment to commercialize these new products, expand the sales and marketing team, invest in on-going R&D.
Through BGF’s Talent Network, Aubin appointed a new Non-Executive Chairman, Graham Philip, currently Deputy Chairman of Ashtead Technology Ltd, and previously CEO of Vroon (Viking) Offshore Services Ltd.
Aubin employs 19 people and in 2012 the company generated revenues in excess of £5m.
In conjunction with the funding, Duncan Macrae, BGF’s Investment Director, has joined the board of Aubin.