Scotland’s subsea engineering firm gets capital boost

London-based private equity and infrastructure investment manager Foresight has disclosed a capital injection into J+S Subsea, an Aberdeen-headquartered subsea engineering company. The investment is expected to support the Scottish player’s growth plans.

According to J+S, the investment will enable it to achieve its ambitions of growing not only internationally but also expanding into adjacent sectors.

To drive these plans, the firm’s management, aside from venturing into adjacent, high-potential markets both domestically and overseas and enriching the company’s current service offering, is also enlarging its team, with two senior hires already appointed.

While Mark Patterson will join the UK subsea player as Non-Executive Chair, Andrew Glen will do so as Chief Financial Officer (CFO). The company claims that each brings significant international and adjacent sector experience to support its next growth phase.

Phil Reid, CEO of J+S Subsea, commented:“We are delighted to partner with Foresight Group, a firm that shares our vision for supporting the UK’s commitment to net zero by promoting sustainability within the subsea industry.

“Foresight’s investment will support J+S Subsea in continuing to deliver on its growth strategy by working on exciting opportunities within the subsea engineering market, both in the UK and further afield. We are excited for the next chapter of J+S Subsea’s journey.”

Foresight’s investment in companies across Scotland, where it is partnering with entrepreneurs and management teams to achieve their business aspirations or release equity to reduce risk, totals over £58 million to date. 

Ryan Finesy, Investment Manager at Foresight Group, remarked:“This investment represents an opportunity to support an experienced and high calibre management team who have achieved significant growth in recent years.

“We look forward to supporting J+S to continue its current growth trajectory within its core markets, alongside expanding overseas and into adjacent, value accretive sectors.”

The Scottish firm was among the companies that recently deployed three subsea battery-powered control systems offshore Canada to maintain the integrity of the subsea electrical infrastructure.