ATR Group, of Aberdeen, has appointed experienced local businessman Mike Salter as its first non-executive chairman.
The tool, plant-rental and lifting-service specialist said Mr Salter was joining the board to assist in building the future strategic direction of the business and to provide specialist market-sector advice.
Mechanical engineer Mr Salter is chairman of Scottish Chambers of Commerce and a non-executive director of various oil and gas companies.
ATR added that the management team, led by managing director Keith Moorhouse, was being strengthened, with new positions and promotions to be announced in the coming weeks.
Mr Moorhouse said: “We are in the final stages of securing additional investment funding so that we can fast-track organic growth by investing more significantly in people and equipment.
“Our oil and gas business is strong, but there are further opportunities and obvious potential to be exploited.
“The renewable-energy market presents a raft of opportunities which need to be tapped into in the medium term.
“When we acquired the business, with investment from Aberdeen Asset Managers and RBS Structured Finance in 2007, our strategy was to expand at home and overseas largely by acquisition.
“In turnover terms, we have grown the business from £14million to over £20million with a 30% increase in the workforce to around 130 people.
“This has been achieved from two acquisitions, but predominantly from our domestic market after significant investment in our rental fleet. In the current climate, we are refocusing our strategy to concentrate on developing our core rental business in the North Sea and the Caspian and on generating new business in the renewable-energy sector.”