North Star Shipping, Britain’s largest offshore emergency response and rescue vessel (ERRV) operator, has secured £40m to finance growth of its North Sea operations.
The company secured the finance package from Bank of Scotland in the form of a term loan and revolving credit facility.
The Aberdeen-based business provides support to more than 50 offshore installations in the North Sea, including a bespoke offering for the offshore wind market.
North Star’s thousand-strong team operates a fleet of 45 emergency response and rescue vessels.
The funding underlines Lloyds Banking Group’s commitment to support businesses through the energy supply chain, particularly in the developing offshore wind sector.