Clydesdale Bank backs marine contractor Caldive as new vessel takes to water

George Moodie, commercial area manager for North Scotland, Clydesdale Bank; Sandra Wilkie, director, Caldive; Iain Beaton, managing director, Caldive; Graeme Johnston, commercial relationship manager, Clydesdale Bank. Picture: Robert Perry

Diving and marine contractor Caldive has “rapid” growth on the horizon after taking delivery of a state-of-the-art offshore construction vessel.

Using £7.5 million in funding from Clydesdale Bank, alongside its own capital, the Invergordon-based firm has acquired a 33-metre work boat – named Isle of Jura – which will boost the company’s capacity to service clients in the renewable energy sector.

On the back of the purchase, 18 jobs have been created at Caldive to operate and service the boat, taking the company’s overall headcount to 68 across diving, back office, management and service roles. The business is now aiming to double turnover to some £10m in the next two years.

Established in 2002, the company operates as part of the Seafast group of businesses.

Managing director Iain Beaton said: “This is a colossal step forward for our business. Historically, we’ve been limited to in-shore work, with a 60-mile range from port in which our vessels operated. This vessel, besides being far more powerful than those in our existing fleet, provides unlimited navigation – she can go anywhere in the world.

“Clydesdale Bank’s support was essential on this transaction. We’ve maintained a close relationship with their team for over 20 years.”

Graeme Johnston, commercial relationship manager at Virgin Money-owned Clydesdale, added: “We’re thrilled to be actively supporting a local firm with a rich heritage in its industry. Our help will give their brand a major boost in the renewable energy space.”