ICR Group has recorded its highest turnover since the business was launched in 2011 – and is set to grow its workforce significantly over the next year.
The Aberdeen-headquartered firm’s turnover for its 2022-23 year-end was £41.7m (US$53.5m), a 20% increase on its previous financial year.
ICR, a technology-focused provider of specialist maintenance, inspection and integrity solutions across multiple sectors, has seen growth driven by strong activity in its core energy sector operations, the roll-out of an internationalization strategy and diversification into other sectors.
Headcount has increased globally by 15%, from 204 to 235, since May 2022, and the firm expects to create around 50 jobs across its operations during the next phase of its strategy.
Jim Beveridge, ICR Chief Executive Officer, said: “This is extremely positive growth for our business and is testament to the hard work and drive of our team. The continued internationalisation of ICR further supports our long-term sustainability, ultimately helping to create meaningful and lasting jobs to make us part of the energy transition.
“These outcomes illustrate how the business is remaining relevant across multiple sectors as we diversify our portfolio while maintaining and developing opportunities in existing markets. These are exciting times for ICR as we repeatedly demonstrate our value-adding capabilities and consequently strengthen our market position.”
Houston-based David Sedge, President, Americas at ICR, said: “The Americas team have played a significant role in the continued success of ICR Group. Our technological solutions, assembled with US-sourced components, are providing value across multiple sectors from energy to telecoms. There is huge potential to broaden our reach in the US as companies look to use smart repair and maintenance solutions that also contribute to their decarbonisation agenda.”
David Sedge, President, Americas, ICR Group
As well as Houston, ICR has offices in the United Kingdom, Norway, the Middle East and Australia as well as partners in over 25 countries. ICR remains a strong performer in the UK North Sea and Norwegian North Sea in particular, while also growing its international footprint.
Further record activity in the USA now sees a team of 18 in Houston, with onshore telecoms drone inspection work through newly secured contracts and regular Gulf of Mexico repair scopes.
ICR’s drone division, Sky-Futures, has secured UK and further international work. A global leader in unmanned aircraft and remote sensing operations, Sky-Futures and its team support clients by delivering high-quality inspection reports and data in support of asset build or inspection programmes.
With record activity in the Middle East – it has recently performed high-value work in UAE, Qatar and Saudi Arabia, and appointed a new partner in Abu Dhabi – this is also a key region of growth for ICR.
While oil and gas remains a core industry, ICR has an additional focus on new onshore industries, with diversified growth foundations in place across renewables, telecoms, petrochemicals, nuclear and defence.
Earlier this year, ICR secured a new partner in Guyana and increased its footprint in West Africa.
ICR’s established technological solutions continue to play a significant part in its growth. Technowrap provides life-long repairs that can be applied to internal, external and through-wall defects on complex geometries, while INSONO is an innovative NDT (non-destructive testing) technique for the inspection of engineered composite repairs. The Technowrap repair system reduces emissions by 66% compared to the traditional replacement methods.
Quickflange offers cold work solutions with weldless, high-performance flange-to-pipe connections. It provides a permanent repair option for improving pipeline integrity and flow assurance, eliminating the need for welding or hot work. With an extensive range, Quickflange is a cost-effective and efficient solution generating up to 80% time saving and a 57% reduction in greenhouse gas emissions over traditional welding. Welding and hot work are energy intensive processes requiring multiple materials, whereas the Quickflange technology offers a straightforward repair system that is less energy intensive and requires fewer specialist engineers.
ICR has made a commitment to environmental, social and governance (ESG) and net zero goals to accelerate its energy transition objectives. This includes the publishing of an annual Impact Report to ensure transparency and disclosure in line with best practice. ICR has been awarded the prestigious EcoVadis Silver Award for its commitment to sustainability.
