XL Group on track to double revenues
XL Global Group is set to double its revenues this year.
The global multi-discipline technology and engineering group is projecting a turnover of £22 million by the end of 2019. This represents a £14milion increase in the last two years, which have seen a period of investment in acquisitions, new divisions and technology, as well as recruitment of new people, taking the workforce to almost one hundred across five locations.
Head-quartered in Aberdeen, XL Group now comprises eight divisions following the recent acquisition of Artisan Measurement & Control Limited (AMC). This deal added expertise, products and services in calibration, measurement, tanker loading, blending, metering systems and instrumentation to XL’s growing list of integrated engineering services.
Chief executive, Colin Laird, said: “Our accelerated growth is a result of both acquisitions and increased business across all our divisions, but particularly within Access XL, Atlantic XL and Integrity XL.
“Following a period of consolidation, during which we also invested in people and products, we’ve emerged as a robust, integrated group that has become globally recognised for solving incredibly complex challenges across diverse industries, including oil and gas. We’re now back on the acquisition trail and looking to invest further in our people and our technology to deliver maximum efficiency, performance and safety for our clients, whatever industry they are in and wherever they are in the world.”
Atlantic XL, the group’s offshore telecommunications business, is close to completion of a $10million contract with Wood to design, install, commission, and maintain the platform telecoms package, navigation and CCTV systems for Canadian major, Husky. The division’s chief operating officer, Karen Winsor, has been recently appointed as vice-chair of NOIA (Newfoundland and Labrador Oil & Gas Industries Association).
