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8 Oct 2014

By Alan Spence

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Accord Founders

Aberdeen based hydrocarbon accounting firm Accord Energy Solutions has hit its five year, £5 million, target a year early by reaching turnover of £6 million, its directors announced today.

The company was founded in 2010 to provide an independent service to the oil and gas industry.  Its three founders Alan Spence, Phil Stockton and James Arthur put in place ambitious growth plans and are delighted to surpass expectations.

Alan Spence said:  “Meeting this target ahead of schedule is testament to the talent we have within Accord.  Our employee ownership model is key to how we run our business and everyone at Accord shares in this achievement and the momentum it creates.

 “We will continue to grow the business to ensure there is capacity to increase allocation engineering, system delivery and measurement services to our growing list of clients.  Next year we will build on our progress with our skilled and experienced people central to every project.”

In four years, Accord has attained over 90 per cent staff retention, created a culture of nurturing new business practices, built a strong client list and achieved excellent financial results.  It works with a range of companies including oil majors based in the United Kingdom, Europe and beyond.

 Mr Spence added:  “There is no question that we started our business at a time when the mature UKCS was facing a chronic skills shortage.  I believe our employee ownership model fosters an environment of cooperation and teamwork with employee owners working together to meet common goals.  This is tremendously attractive for both employees and clients, ensuring sustainability and continuity across our operations.” 

Accord staff are actively involved in running the business and realise direct business benefits.  Accord is Scotland’s first employee-owned company from start-up.