Glacier hails ‘milestone’ deal

Glacier Energy Services yesterday said it had reached “another milestone in its rapid growth” by signing a contract that is set to generate annual revenues of £2.5 million.

The Aberdeen-based oilfield services group, which has a manufacturing plant in Motherwell, said its agreement with Newcastle-based BEL Valves would also result in new “facilities and resources”.

Glacier launched only last year following an £8m investment from Maven Capital Partners, Simmons Parallel Energy and debt finance from Clydesdale Bank. The deal enabled the acquisition of two established Scottish manufacturing businesses – Roberts and Wellclad.

Glacier boss Dave Sturrock said: “This agreement [with BEL] represents Glacier’s desire to enter into strategic relationships with key customers.”