ICR Group has recorded its highest turnover since the business was launched in 2011 – with the Middle East playing a key role in the firm’s success.
ICR, a technology-focused provider of specialist maintenance, inspection and integrity solutions across multiple sectors, has seen increased demand across its core energy sector operations, following the roll-out of an internationalisation strategy and diversification into other sectors.
The UK firm’s turnover for its 2022-23 year-end was £41.7m, a 20% increase on its previous financial year. Headcount has increased globally by 15%, from 204 to 235, since May 2022, and the company expects to create around 50 jobs across its operations during the next phase of its strategy.
Jim Beveridge, Chief Executive Officer at ICR, said: “Our presence in the Middle East has been particularly noteworthy, with recent high-value projects completed in the United Arab Emirates, Qatar and Saudi Arabia. We have also solidified our presence in the region by appointing a new partner in Abu Dhabi.
“Our ongoing international expansion not only bolsters our long-term sustainability but also plays a vital role in creating meaningful and enduring employment opportunities, rightly positioning us as a contributor to the energy transition.
“The Middle East is a dynamic market, brimming with potential for innovative companies such as ICR. At ADIPEC, we are eager to foster deeper relationships with our partners and engage with organisations striving to achieve their net-zero objectives. With COP28 on the horizon, our industry must remain steadfast in its commitment to facilitating a just transition toward a lower-carbon future.”
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. ICR’s drone division, Sky-Futures, has also secured further international work.
NAMA Development Enterprises is ICR Group’s sponsor in Abu Dhabi, while its new execution partner in Abu Dhabi is APS.