News Items...
Super HR Spider Scoops Inaugural Cherries Award.
June 2008
Thanks to her innovative ideas, Jacqui Tindal scooped the Blossoming Award at the inaugural Cherries Awards in recognition of her promising talent in the field of HR and will now work towards achieving her Chartered Institute of Professional Development (CIPD) professional qualification.
Jacqui introduced a comprehensive and unique induction scheme for new ‘spiders’ to ensure they settle into their new environment smoothly. This includes a personality profiling system in order to help the new spiders understand their personality type and communication style better.
Another of Jacqui’s major successes has been implementing a review process which enables staff members to identify latent talents and the challenges that they really enjoy. This has led to several spiders changing roles and exploring new career paths within the company, including a workshop technician who moved into sales and design, and a design engineer moving into overseas management.
She is also aware of how important the little touches can be, and has a real flair for these, coming up with the ideal gifts for birthdays, ‘spider’ babies and special occasions. The success of these presents are always a talking point in the office, and are now an intrinsic part of our ‘spider’ culture.
Is it a Bird or a Plane....Not Superman, Spidermen.
May 2008
Westhill had never seen anything like it ! Red Spider's three-wheeler scooter caused quite a stir as it was spotted around and about on Sunday in 'May's Magnificent Moped Meander'. The fact that it appears to be riden by 'the Stig' obviously distracted the competition as Team Spider Men III took second place!
Our two teams exeeded their goal and raised £5,618 for the Cleft Lip and Palate Association (CLAPA).
We would like to thank everyone who sponsored us. For more information on CLAPA and to make a belated donation click here.
The event was organised by Grampian Police in aid of charity and to raise awareness on bike safety.
Bank of Scotland Buys into Red Spider
November 2007
Bank of Scotland Corporate's Growth Equity team has acquired a 13.33% stake in Red Spider Technology Ltd.
A recent study by Library House named Aberdeen-based Red Spider as the 6th fastest growing venture-backed company in the UK. Bank of Scotland's latest investment means that its Growth Equity team now has equity investments in three of the top ten fastest growing companies in the study, including Rocela and Leaseway Vehicle Rental.
The Bank's Growth Equity team, led by Stephen Campbell, makes direct equity investments into a variety of businesses, from small technology companies to the largest public companies. These investments are made directly from the Bank's balance sheet, not from a fund, which gives the Bank the flexibility to work with management teams.
Red Spider's products address various issues experienced in the upstream production of oil and gas, with expertise in oil well intervention, oil well completion and oil well drilling. They specialise in so-called 'downhole' products, which are designed to generate additional revenue for clients from untapped oil reserves.
Formed in 2003, they service a list of blue-chip oil companies with a total of 22 products and turn over almost £4m from head office in Aberdeen and their additional bases in Houston, Dubai and Stavanger. In 2006 the company won the Scottish Offshore Achievement 'Most Promising Small Company' award.
Commenting on the deal, Malcolm Kpedekpo, Associate Director of Bank of Scotland Growth Equity, said: "Following a very competitive process, I'm delighted that we've had the opportunity to invest in Red Spider. They're an excellent example of a fast-growing company with a dedicated and determined management team – exactly the sort of people we like to invest in. I look forward to working with Chris Oliver and everyone else at Red Spider as they use Bank of Scotland's investment to move the business forward."
Chris Oliver, CEO of Red Spider, said: “Securing this investment is a major milestone for the company and its founders Andy Skinner, Irvine Brown, Mike Reid and I. The last four years have been about building customer confidence and a track record in our products. We’ve developed a high profile, a strong reputation and a talented team of spiders who will propel the business forward into key markets. We chose the Bank of Scotland Growth Equity team as our investor because of their innovative approach to our funding needs and have been impressed by their attitude and enthusiasm to date. I look forward to working with them as we step into an exciting future for all at Red Spider.”
Appointment of Chairman Underlines Red Spider’s International Ambitions
September 2007
Red Spider Technology has appointed industry stalwart, Mike Salter, as Chairman, with effect from 1st September 2007. Mike brings with him over 30 years experience in the oil and gas industry, for the last 12 years as Chief Operating Officer of Aberdeen-based Abbot Group plc.
The move signals the next stage in Red Spider’s development internationally, building on its strengths in Norway and the North Sea, as Managing Director Chris Oliver explains: “Mike brings with him a wealth of experience in growing a UK-based business on an international scale, through acquisition as well as organically. He also has in-depth knowledge of the drilling and completion market worldwide, which is very much the focus of our business.
“With this level of expertise Mike, as Chairman, will be able to provide the direction and advice to help us fulfil our ambitions to expand further internationally, following our successes in Norway and the Middle East.”
Commenting on his appointment, Mike said: “I am delighted to be appointed Chairman of Red Spider Technology. It is an interesting and exciting company with a dynamic management team. The business has excellent prospects for international growth which we hope to realise in the coming years.”
Red Spider Placed in Top Ten !
August 2007
A recent report published by industry information specialist Library House has placed Red Spider in the top ten of fastest growing venture backed companies in the UK.
Library House's latest comprehensive survey of the UK venture market, was sponsored by UBS Wealth Management and looks at the performance of all UK based venture backed companies with a view to providing an insight into investment and business partnership opportunities for investors.
The report provides complete data for 2006 and covers all exits achieved by institutionally backed firms during the same year.
According to the report, Red Spider Technology was the 6th fastest growing venture backed company in 2006.
More details and a copy of full report are available from www.libraryhouse.net.
Chris Oliver Wins Emerging Director Award at the IoD Director of the Year Awards
March 2007
Chris Oliver, Director of innovative oil and gas design company Red Spider Technology, was last night (15th March) celebrating a successful evening at the Institute of Directors 'Director of the Year Awards' after winning the 'Emerging Director' category.
The event, held at the Radisson SAS hotel in Glasgow acknowledged the achievements of individuals at director level across the whole of Scotland’s business community.
Chris said, "Picking up this award is recognition of the constant progress Red Spider Technology has enjoyed since forming in 2003, and is particularly welcome because we were considered alongside some of Scotland's most recognised and respected firms. Competition amongst the Scottish business community is strong, and to be identified as a leading SME is testament to the hard work of our entire team. With a forthcoming investment in new, purpose-built, premises in Westhill complemented by the recent opening of offices in Norway and Dubai, and the continued successful deployment of our tools worldwide, the future continues to look very promising for Red Spider."
Chris was presented with his award at the ceremony, where he joined a whole host of business leaders from all over Scotland, as well as guest speakers Nicol Stephen MSP, Deputy First Minister and John Wallace OBE, Principal of the RSAMD.
The awards focus on the work and achievements of the nominees during 2006, and the emerging director award recognises the work of promising individuals who have made a significant contribution in their early years as a director.
Chris joined Red Spider in 2003 after a successful career in financial management, where he had previously used his experience to assist several start-ups.
Red Spider has grown rapidly in turnover and geographic spread and was voted Most Promising Small Company in 2006 Scottish Offshore Achievements Awards. Staff numbers have risen from four to thirty with offices in Scotland, Norway and Dubai.
Chris continued, “Knowing that the winners of these awards are chosen by industry leaders makes it even more significant, because they have a wealth of experience, and are well aware of the challenges new businesses in Scotland face.”
Ken McEwen, Chairman, IoD Aberdeen paid tribute to Chris’s accomplishments. “Chris’s contribution has been to focus internally on developing a strong team and culture and externally on portraying a strong, bold and confident company. This approach, allied with his financial and business acumen, has been key to delivering results for the company.
“His contributions to the business community have also been augmented by his commitment to the wider social community, as demonstrated by his participation on the board of Young Enterprise Grampian and Red Spider’s sponsorship of Shirley Webb, Scottish Olympic hammer thrower and the Granite City Reds junior rugby teams."
Job Success for Scottish Engineering Prize-winner
December 2006
Michael Christie, a recent graduate from Robert Gordon University, has been awarded the prestigious Scottish Engineering Prize, sponsored by Scottish Engineering, who represent employers in the engineering industry.
Michael was awarded the prize for performing consistently well during his studies, work placement, and industrial project, and received a cheque for £250.
Michael (22), from Westhill, graduated with an MEng in Electronic and Electrical Engineering with Distinction this month. From January he will head up the electronics division of Red Spider, specialists in downhole tools for the oil and gas industry, where he carried out his work placement and industrial project.
Michael said, "I'm thrilled to have been awarded this Prize and to be launching my career with Red Spider. They have given me excellent opportunities throughout my work placement and my industry project to allow me to demonstrate my abilities. They have directly contributed to me gaining this award."
Dr Allan Adam, Acting Associate Head of RGU's School of Engineering said, "The quality of our students was consistently high this year. Michael achieved excellent marks on his course and proved his impeccable engineering skills during his placement."
Chris Oliver, Managing Director, Red Spider Technology Ltd said "We're delighted by Michael's success which is thoroughly deserved. He has consistently exceeded our expectations since he joined us as a Summer student in 2005 and we are extremely pleased that he has chosen to launch his career with the company. People of Michael's caliber and ability are what makes Red Spider special. He will be a great addition to the team and help pioneer the electronics arm of our business".
Adopting a Creative Approach to Graduate Recruitment
October 2006
The Press and Journal
The skills shortage in the North Sea oil industry is well known. Employers have been talking for many years now about the need to attract young people into the industry to replace an ageing workforce. Steps are now being taken to date to put plans into action and make the industry an appealing option for youngsters.
One local company though set out from the start with "employee appeal" in mind and has discovered that its brand name and profile work to its advantage in attracting new, young talent. Red Spider Technology is an engineering company, which is developing a range of innovative downhole tools for the global oil and gas industry from its base in Westhill, Aberdeenshire. It would be easy to be seen as another company of 'metal bashers' or 'petrol-heads' but the company deliberately chose a name that would stand out from the crowd and reflect its core values and its pioneering approach to product development.
Chris Oliver, managing director of Red Spider Technology says, "Red Spider is essentially a creative company. From sales to product design and from production to field installation, our people are characterised by a desire to find solutions to industry problems. Every product that we offer has been developed in-house and staff get a buzz from being involved in this process. The culture is very participative too, which appeals to graduates joining the company. We expect everyone to give their opinion in the knowledge that they will be listened to and can make a difference."
"I have been delighted by the quality of people who have joined Red Spider Technology since we started the company. All have come looking for a more positive experience at work and a chance to make a difference and this has created a culture that is tangible and exciting to young people. By recruiting youth and new ideas we ensure that the business maintains its pioneering approach and delivers high quality products on time and on budget."
"We currently have two engineering students working with us over the summer months and we employed a mechanical engineering graduate last summer as a trainee designer. They were attracted by our name, reputation and our creative marketing at industry shows and seminars."
Louise Milne is currently studying Mechanical Engineering with a Diploma in Management at the University of Aberdeen and is working with Red Spider Technology for twelve weeks during the summer. "I have just finished the third year of my five year masters degree in mechanical engineering and am completely undecided about what to do when it is completed. To help me make a decision I felt it was necessary to experience the engineering industry first hand and to get a feel for what is involved, so when Red Spider Technology offered me a summer placement I was really keen to accept."
"I have been able to further develop the knowledge and skills I have gained at university during my placement at Red Spider Technology, using my theoretical knowledge of engineering design in an innovative, practical way and also have had the chance to use computer aided design programs. My time at Red Spider Technology has given me the unique opportunity to learn about all aspects of running a growing business and this has been invaluable. As a young engineer I have been fortunate to be involved in the design process, which I have found extremely interesting and exciting.
"One of the advantages of having a placement at Red Spider Technology is working with such highly experienced engineers. I have been able to learn things that they don’t teach at university and everyone is very willing to answer questions and explain things to me, so it has been great to be part of such a skilled team. Although I still have two years left of my degree, being at Red Spider Technology has allowed me to experience not only the oil services industry as a whole but the engineering side too and after graduation Red Spider Technology will be the first place I send my CV."
Michael Christie joined Red Spider Technology as a summer student in 2005 and has continued to work with the company part-time since then, carrying out his final year project on a Red Spider application. Michael will join Red Spider Technology in January 2007 to head up its electronics division.
Michael says, "To be the first electronics engineer to work in the company was an incredible opportunity and also a fantastic learning experience. Working with Red Spider Technology offered me the chance to use my knowledge within the work environment and get exposed to the workings of the oil industry. It is also really rewarding to be able to see Red Spider Technology take something from the initial drawings and design stage to the formal launch of the end product. This has allowed me to become more aware of the importance of good sales and marketing. I look forward to joining the Red Spider Technology team in January 2007 and using my background in electronics to help build up this side of the business."
Jonny Murty joined Red Spider Technology as a mechanical graduate last summer as a trainee design engineer. Jonny says, "For me gaining employment with Red Spider Technology after I graduated was a really good career move. After university I felt that I had the necessary skills to contribute effectively in the oil industry and I had done some summer work experience at Halliburton so I had some idea of what to expect. However, working with a smaller company like Red Spider Technology is very different; as you are part of a smaller team everyone knows everyone and you have easier access to highly experienced people who are willing to support you on a one-to-one basis."
"I have been able to learn so much in a short time which has helped me develop in my role. As a trainee I have gone from my initial few weeks of asking hundreds of questions to now having the knowledge, ability and experience to work on more complex jobs and design work. Looking to the future I hope to continue developing my skills and experience to play an instrumental role in taking projects from start to finish."
Summer work experience can help students on the career path they wish to take after university, by giving them a taste of the real world of work and can offer employers the chance to evaluate a student’s knowledge and skills, as Chris explains: "Students who perform well during a summer placement are good candidates for full-time work once they graduate. The work experience period is like a 'reality interview' and is a chance to see how the candidate performs in different situations. From this, we evaluate whether they have the necessary knowledge, skills and 'spiderishness' to work for us. We are always keen to employ graduates that have worked with us previously and have shown potential to develop within the company."
Red Spider Technology was formed in 2003 to develop innovative tools to meet the new challenges in the oil and gas industry. Based in Westhill, near Aberdeen, the company supplies innovative down-hole tools to the global oil industry, aimed at adding value by reducing client operating time, production costs and environmental risks.
Red Spider Gains More Legs in Norway
October 2006
Trinidadian Kirk Cabral has been appointed Red Spider’s Operations Co-ordinator for Norway, after 20 years of varied experience in the airline industry, most recently working as a licensed aircraft mechanic for SAS Braathen's Technical Services in Stavanger. He joins Hans Kristian Hegland, General Manager, and Jørn Carlsen, Business Development Manager, Scandinavia, at Red Spider Technology AS.
Following the appointment, Red Spider has moved into new offices in the Rogaland Science Park, Stavanger, which are twice the size of its original premises on the Park.
Chris Oliver, Managing Director of Red Spider Technology said, "We are very pleased that Kirk has joined our team. He brings with him a strong mechanical engineering background and international service experience in an industry renowned for its high quality service levels."
Kirk's appointment signals the increasing adoption of Red Spider’s products by Norwegian oil and gas industry operators, as Hans Kristian Hegland explains: "Our safety valve protection sleeves for Through Tubing Rotary Drilling (TTRD) applications have been gaining in popularity over the last year. Previously the system has been used only for subsea well applications. With recent orders from Statoil, the technology is now being applied on platform based wells in the Gullfaks field.
"The innovative Hydraulic RED (remote equalizing device) is also steadily gaining acceptance in Norway as a reliable and rig time saving device. A number of orders have been received for applications in late 2006. And the popularity of our Injection Valves is continuing with a recent order for BP’s Ula field."
In addition to winning a contract for safety valve protection sleeves for Through Tubing Rotary Drilling (TTRD) on two of Statoil’s wells on the Gullfaks B platform, Red Spider has been awarded the offshore servicing of the tools.
Designed to stay the Distance - Edinburgh Marathon 2006
£2,500 raised for Childline Scotland.
May 2006
After the Marathon in 2004, Bruce Gavin, Senior Design Engineer vowed "never again", however after a few drinks with friend Craig he agreed to attempt it again.
The Edinburgh Marathon was on Sunday 11th of June and this year he chose to raise money for ChildLine Scotland.
ChildLine Scotland is the free national helpline for children and young people. Last year they provided over 30,000 children in Scotland with a counseling service, but many more young people were not able to get through. It costs ChildLine £38 to provide a child with the comfort, advise and support they are calling for.
Thank you to everyone who sponsored Bruce and gave him support to go the distance.
Red Spider Receives Industry Accolade
April 2006
Red Spider has been named 'Most Promising Small Company' by the judges of the 2006 Scottish Offshore Achievements Awards in recognition of our growth to date and potential for the future.
Chris Oliver, Managing Director, said: "Winning this prestigious award is fantastic recognition from the oil and gas industry that we are an emerging global supplier of innovative downhole tools and solutions."
"Key to our success now and in the future is the culture and spirit of the team of people working at Red Spider and it was particularly rewarding on the night of the awards to have more than half the team there to celebrate the company's victory."
"Following a fantastic start to the year, we will add another 10 personnel to our team in 2006. We are currently recruiting offshore and workshop technicians, design engineers, sales engineers and a production planner."
Since our formation in 2003 Red Spider's Water Injection Valve, Hydraulic Red remote opening barrier, and TTRD protection sleeve have been successfully deployed by a number of operators in the UK and Norway and the Middle East. Other Red Spider designs include our Fluid Support Device, which has been developed for a major oil company to address sand and debris issues in its sub-hydrostatic ESP wells.
Shouting for Shirley
March 2006
Red Spider has recently given its support to Shirley Webb, a rising Scottish athlete, who has her sights set on the 2008 Olympics in Beijing.
Shirley Webb, 24, is based in Edinburgh and is Great Britain's leading female hammer thrower. Shirley has followed an unusual route into the sport, having trained as a dancer and then been a championship diver before moving into athletics at the age of 16. She is coached by Chris Black, former Commonwealth & Olympic medallist in the men's hammer.
Shirley has shown tremendous improvement year on year since 1999 increasing her throw from 41.40m to a recent personal best of 67.58m. She is currently ranked 36th in the IAAF world rankings but 4th among the participants in this years Commonwealth Games in Melbourne.
Shirley has infectious enthusiasm for her sport and a great desire to improve and help change the image of her event. Her determination and innovation has close parallels with 'the Red Spider way' and we are delighted to be associated with her as she scales the ladder of success in her sport.
We will be cheering for Shirley during the Commonwealth Games which begin in Melbourne on 15th March 2006 and will update our website with her undoubted progress towards Beijing.
For more information see the following links:
http://www.melbourne2006.com.au/Channels/
http://www.hammer-circle.co.uk/scottish.php?show=Shirley%20Webb
