Thursday 18 April 2024
 6.2°C   SW Fresh Breeze
Ocean Kinetics - The Engineering Experts

Business / LEF set for further growth after management buyout

LEF managing director Jake Watt: "Offshore wind is going to be a major factor in Shetland'. Photos: Hans J Marter/Shetland News

FOLLOWING a management buyout, the new owner of well-established local engineering firm LEF says he is keen to capitalise on the opportunities offered by Shetland’s burgeoning energy transition sector.

Shares in the company, based at the Greenhead Base, have been transferred from directors David Suckley and William Coghill to the company’s managing director Jake Watt.

The company was in founded in 1994 and both directors are now retiring.

Watt, who joined LEF as a workshop manager six years ago, said he was keen to continue the process of diversifying the services the company had to offer.

The engineering and fabrication firm has traditionally served the oil and gas industry, but Watt said the boom in infrastructure projects locally is offering ideal opportunities to expand.

“What we have been doing since Covid is diversifying into other sectors based on the skills we have gained in the oil and gas industry,” he said.

This includes steel fabrication work for other customers such as the port authority, the energy recovery plant (incinerator) as well as the Lerwick district heating scheme.

Watt said the company is also moving into serving the energy transition sector, in particular offshore wind as well as wave and tidal.

“With the upcoming ScotWind leasing rounds and also the INTOG [Innovation and Targeted Oil and Gas] sites, offshore wind is going to be a major factor in Shetland,” Watt said.

LEF’s technical manager Callum Mills (left), the company’s managing director Jake Watt and operation manager Ian Hannah.

The company is also in the process of setting up a stainless steel workshop in Lerwick, and is also expanding its presence in Peterhead where a branch has been established.

Become a supporter of Shetland News

 

Overall, Watt aims to increase local collaboration on major engineering and construction projects, and has set himself a target of working towards increasing the company’s annual turnover by 80 per cent.

With 48 employees on its books, LEF is a significant local employer. Watt said the company’s operation manager Ian Hannah, technical manger Callum Mills and business manager Shaun Cameron are integral parts of LEF’s ambition.

“We have taken on new apprentices this year, and that part of us looking ahead and building and developing our own workforce, and give the young people of Shetland quality employment opportunities,” he said.

He added that he was well aware that LEF’s location at the Greenhead Base could be seen as a limiting factor when it comes to the general awareness of the company’s presence.

“Whilst we are serving the oil and gas industry, we are here for our islands,” he said, “and we may be able to help local people and are open to work on anything.”

Become a supporter of Shetland News

Shetland News is asking its many readers to consider start paying for their dose of the latest local news delivered straight to their PC, tablet or mobile phone.

Journalism comes at a price and because that price is not being paid in today’s rapidly changing media world, most publishers - national and local - struggle financially despite very healthy audience figures.

Most online publishers have started charging for access to their websites, others have chosen a different route. Shetland News currently has  over 600 supporters  who are all making small voluntary financial contributions. All funds go towards covering our cost and improving the service further.

Your contribution will ensure Shetland News can: -

  • Bring you the headlines as they happen;
  • Stay editorially independent;
  • Give a voice to the community;
  • Grow site traffic further;
  • Research and publish more in-depth news, including more Shetland Lives features.

If you appreciate what we do and feel strongly about impartial local journalism, then please become a supporter of Shetland News by either making a single payment or monthly subscription.

Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.

 

Newsletters

Subscribe to a selection of different newsletters from Shetland News, varying from breaking news delivered on the minute, to a weekly round-up of the opinion posts. All delivered straight to your inbox.

Daily Briefing Newsletter Weekly Highlights Newsletter Opinion Newsletter Life in Shetland Newsletter

JavaScript Required

We're sorry, but Shetland News isn't fully functional without JavaScript enabled.
Head over to the help page for instructions on how to enable JavaScript on your browser.

Your Privacy

We use cookies on our site to improve your experience.
By using our service, you agree to our Privacy Policy and Cookie Policy.

Browser is out-of-date

Shetland News isn't fully functional with this version of .
Head over to the help page for instructions on updating your browser for more security, improved speed and the best overall experience on this site.

Interested in Notifications?

Get notifications from Shetland News for important and breaking news.
You can unsubscribe at any time.

Become a supporter of Shetland News

We're committed to ensuring everyone has equitable access to impartial, open and quality local journalism that benefits all residents.

By supporting Shetland News, you play a vital role in ensuring we remain a pivotal resource in supporting the community.

Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.