Aberdeen’s Seacroft Marine Consultants has announced a management buyout, with company director Jennifer Fraser to step down after 27 years with the firm.
Based in Footdee, Seacroft provides marine assurance, offshore consultancy and offshore marine safety services across the UK and internationally.
Current co-owner and technical director Michael Cowlam will become the major shareholder of Seacroft and assume the role of managing director.
Meanwhile, finance manager Magdalena Pierce will become joint owner and company director when Ms Fraser steps down at the end of October.
Founded in 1995 by Ms Fraser’s father Captain Roderick MacSween, Seacroft has operated under the joint leadership of his daughter and Mr Cowlam since 2004.
Seacroft buyout a chance to ‘pursue new adventures’
Ms Fraser said she decided to step away from the business to spend more time with family and pursue new adventures.
“I am confident in the company’s continued success, and I believe Magdalena will excel in her new role alongside Michael,’ Ms Fraser said.
In a statement, Mr Cowlam paid tribute to his longstanding colleague and fellow co-owner.
“Jennifer and I have worked together for over 20 years, building the company up to the strength we have now,” he said.
“Her pioneering work on some of the company’s processes in the early days set industry standards and helped make Seacroft the consultancy it is today.
“We wish Jennifer and her family well for the future and look forward to the next steps in the company’s growth.”
Seacroft said Ms Pierce joined the company in 2021 as finance manager after a career in accountancy practice and in the finance departments of multi-national energy companies over the last 15 years.
The management buyout comes after Seacroft recently expanded its operations with a new office and staff in Lowestoft and plans for a further one in the North of England.
Seacroft said the investments are the result of a surge in demand for offshore renewables work in these areas.
The company said it also recently secured new marine assurance and technical authority services from two major energy operators worth in the region of £1 million over the next three years.
In 2016, live webcam footage of Aberdeen harbour provided by Seacroft drew in tens of thousands of viewers from around the globe.