The company is using the proceeds to further expand internationally.
In a secondary buyout, which was supported by additional term debt facilities from Clydesdale Bank‘s Acquisition Finance, LDC backed the Ramco management team to buy the business from its current backers and support its growth strategy.
Formed in 1977 and led by CEO Stewart Cumming, Ramco provides services relating to the storage, management, cleaning and preparation of pipe used in oil and gas wells. The company also owns 50% of BSR Pipeline Coating Ltd, a joint venture with Tata and the UK’s oil and gas focused line pipe coating business.
Ramco, which was the subject of a management buy-out in 2005 backed by Sir Fraser Morrison and his family, currently has a strong presence in Norway and has operations in China, Japan and Romania.
In conjunction with the investmemt, Mark Kerr, Head of LDC’s Aberdeen office, join the company’s board.