Multi-million funding package will help Aberdeenshire's Paradigm Flow Services scale up

Aberdeenshire-based Paradigm Flow Services has sealed a “multi-million-pound” funding deal to accelerate its scaling-up ambitions.

The firm, which specialises in pipeline remediation and fire protection technologies, said it had secured a substantial growth funding package from alternative lender ThinCats. The loan will facilitate the accelerated growth of Paradigm’s fleet of specialised equipment.

Julian Manning, chief executive, Paradigm Group, said: “We are very pleased to have agreed terms with ThinCats to provide us with a loan facility to meet our immediate growth needs for both our production enhancement and fire protection service lines. As we continue to invest in new assets to meet demand, this loan facility will allow us to further accelerate our plans and build upon the solid all-round performance achieved by our flow services team in 2022. The expanded equipment portfolio will also make our lower carbon and overall cost technologies more accessible to both new and existing customers.”

The funding transaction was introduced and advised by Bridge and York Capital Partners (B&Y) and Stronachs provided legal support for Paradigm.

Paradigm Flow Services' Flexi-Coil pipeline remediation technology in operation.

Dave Parr, director business development at ThinCats, which lends to small and medium-sized businesses, said: “Paradigm has a strong track record in delivering innovative technologies which have delivered immediate customer value and significantly lowered carbon impact by disrupting conventional practices.”

John Blanchflower, chief executive, Bridge and York Capital Partners, added: “B&Y has worked with the Paradigm Group since 2016 and originated funding to assist in their growth.”

Paradigm Flow Services is a wholly owned subsidiary of Paradigm Group.