Osiris Projects Clinches Finance Expansion Package

A Wirral specialist in seabed mapping and coastal surveys has clinched a finance package worth almost £5m ($8.4 mln) to help it expand its services and take on additional staff.

Osiris Hydrographic and Geophysical Projects, which is owned by Liverpool-headquartered conglomerate Bibby Line Group, has received £4.8m from Santander Corporate & Commercial.

The business was founded in 1997 by directors Andy McLeay and Jim Walters and bought by Bibby in 2012. It has completed more than 600 contracts in the UK and northern Europe, ranging from inland surveys to full scale multi-parameter seabed mapping projects.

“We have seen strong demand for our services and the company is looking to expand its operations, particularly into offshore mapping via the chartering of larger vessels,” saidmanaging director Andy McLeay.

“This will allow us to operate further offshore, increase the number of days we can be operational at sea, and see Osiris Projects becoming a much stronger competitor in both the oil and gas and renewables markets.”

The funding will also allow Osiris Projects to expand its survey teams and plans are in place to increase headcount “significantly” from the current 93 employees.

Richard Hennity, relationship director at Santander Corporate & Commercial, said: “The business has established a respected and distinct position in the market, which is a testament to its unique staff expertise and highly competent management team. I look forward to working with them all.”

Press Release, May 21, 2014

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