Stats Group seals bumper $20m deal

L Contract comes as Aberdeenshire company marks 20th anniversary

an internationalisation strategy which required entry into mature and established markets by providing clients with innovative technologies.

The firm’s future plans will focus on enhancing organic growth in existing international markets while penetrating and increasing market share in China, Australia and West Africa.

In 2015, Stats vowed to continue its expansion into overseas markets after securing a follow-on investment of £4.3m from the Business Growth Fund (BGF).

Thecompany’smanagement team also invested additional money in the business, which received an initial £7.8m of growth capital from the BGF in March 2012.

At the time of the 2015 investment, Duguid, who founded the firm with his sister, Lorraine Porter, highlighted the wider support BGF had provided.

He said: “They have not just injected cash into the business but have also offered advice and support during our global expansion.”

Simon Munro, BGF regional director for Scotland, said at the time that follow-on investments were an important part ofthemodelofthefund,which is backed by five of the UK’S main banks.