In a move that is sure to please the US friendly First Minister Alex Salmond, a Dunfermline-based energy company has expanded its presence in the American industry through a bold acquisition.
M&C Energy has moved to acquire Coleman Hines, an energy consultancy based in Arizona.
This now brings M&C’s global footprint up to 19 offices, which is spread across 13 countries, servicing a client base across more than 40 territories. It also comes just a few months after the firm opened its first Stateside presence, in Atlanta, Georgia.
This shows that despite tough trading conditions throughout the world, expansion can still be achieved by applying the right strategy. Where many companies are cutting back on staffing levels and payrolls, others are forging ahead with this thinking.
M&C have managed to expand their operations so aggressively, largely as a result of the £22m purchase from investment group Lyceum capital in 2010.
Many companies not benefiting from such large investments are now working together to free up commercial finance in Scotland though, using strategies such as invoice factoring and discounting.
Though the expansion of such companies may not be as rapid as that of M&C’s, who have also made recent acquisitions throughout Europe and Australia, such bold strategies do provide hope for the future.
Yet it is in America that the company looks to be focusing its efforts, with group chief executive Mark Dickinson saying:
“While M&C is (an) industry-leader around the world, the North American market is relatively new … bringing Coleman Hines on board will strengthen our foothold and market position there.”