Leading North Sea dealmaker Rob Aitken has joined a clean tech venture studio aiming to accelerate the energy transition and unearth Scotland’s next unicorn business.
The former KPMG and PwC transactions specialist brings nearly 25 years of ‘Big Four’ accountancy experience to Ventex, which is utilising the investment model behind some of the world’s biggest new companies to fast-track the UK’s path to net zero emissions.
The studio wraps senior executive talent and investment around businesses with high growth potential and is focussed repurposing companies, technologies, skills and experience in the existing supply chain to support renewable energy markets.
It is also investing in early-stage companies with technologies which have significant potential to help solve the climate crisis.
Deal veteran Rob will assess potential portfolio companies for the studio, bring additional opportunities and lead the finance strategy for the business and its portfolio.
Rob was previously Transaction Services Director at KPMG in Aberdeen, with a focus on financial due diligence in the energy sector. Prior to that he spent 20 years at PwC working on local and international energy deals.
Stuart McLeod, Rob Aitken and Steve Gray
He will work alongside Finance Director Lesley Barrie, who also has over a quarter-century of top-level financial experience.
Rob said: “I am delighted to be joining Ventex, which is a forward-thinking business bringing innovative solutions to tackle the climate crisis.
“The current fiscal environment – together with the huge opportunities in new energy – means this sector is ripe for value-driven acquisitions and re-purposing.
“Ventex is poised to play a huge role in the energy transition and I share its passion for retaining and creating jobs in our energy communities.”
Ventex managing partners Steve Gray and Stuart McLeod have a track record of success and have both built global businesses in the past.
Steve was the founder and former chief executive of ROVOP, which is now a leading global player in the ROV market, while Stuart led oil and gas completions and technology specialist Qedi through to its £33million acquisition by Amec plc.
Steve Gray said: “From the outset we identified Rob as the perfect fit as our CFO, and we are delighted to now have him onboard.
“Rob brings network, diligence and financial structuring skills to Ventex that will accelerate our mission; he also gives our portfolio companies a world class CFO standing at their shoulder.”
Stuart McLeod added: “We have a unique opportunity in the UK energy sector, where political opposition to oil and gas has made it challenging for supply chain companies to access the capital they need to invest in the skills and technology needed to serve new clients in renewable energy.
“Rob’s strategic financial guidance will be critical in managing our rapid expansion and ensuring stability for our hypergrowth ambitions. I am delighted to have him onboard.”
Ventex has already completed its first two investments, Aberdeen-based High Performance Robotics (HPR) and decommissioning-focussed artificial intelligence firm Rahd, which is headquartered in Perth, Australia.
HPR is now shifting from inspecting oil and gas assets to delivering cost-efficient inspection services to the offshore wind market, while Rahd has technology which could dramatically reduce decommissioning costs for North Sea operators.
A third acquisition looks set to be announced before the end of the month, and the business is working on a strong pipeline of further acquisitions and investments.