LDC-backed Ramco has been awarded one of the top honours at the BVCA Management Team Awards in Scotland.
The awards recognise the achievements of outstanding private equity-backed businesses from across the UK and Ramco will now compete in the national final in November.
LDC backed the secondary buyout of Ramco in 2013 to support its international growth. The company, which is celebrating its 40th year in business, has continued to expand overseas and recently secured four new contracts worth more than £35m. It will now provide oil pipe care services to clients in Australia and Europe.
The judges said: "We were impressed with the resilience of Ramco through the difficult oil and gas market of the last few years. Derek Smith and his team have invested through the downturn, growing the business at a time when others were cutting back. Their determination to push ahead has paid off in terms of growth, market share and profitability."
Mark Kerr, Head of LDC in Scotland, added: “Without clear leadership and the hard work of an excellent senior management team, Ramco would not now be in the position of looking forward to expanding strongly over the next few years.”
The news is the latest awards win for an LDC portfolio company and follows the BVCA successes of Team 17, the NEC Group and Clifford Thames.