GAEL FORCE GROUP EYES INTERNATIONAL AQUACULTURE GROWTH
Gael Force Group eyes international aquaculture growth. Leading Scottish aquaculture supply partner, Gael Force Group is set to proceed with ambitious growth plans with support from the Royal Bank of Scotland, including a multi-million pound investment in research and development.
The Inverness-based firm is a manufacturer and supplier of equipment, technology, and services for the sustainable farming of healthy, nutritious salmon. With over 200 staff based in locations throughout Scotland, England and Canada, it also serves the commercial fishing and leisure marine markets.
The company, originally established in 1983 by Stewart Graham in Stornoway as a creel manufacturer, is looking ahead to the future with a strategy to expand into global markets, with several initiatives in the pipeline including technologically intelligent solutions required to tackle industry challenges to sustainable growth.
Key among these projects is a multi-million pound aquaculture R&D investment to deliver improved fish health, reduced predation, and create a greener, more carbon friendly way of farming the seas – dramatically reducing ‘egg to plate’ emissions while enabling on-farm circular economies.
R&D investment is crucial to Gael Force Group’s growth plan for the next decade, which has sustainability at its heart. Despite short term impacts to business due to Covid, its long-term strategy is expected to allow the Group, which has achieved 20-25% growth year-on-year throughout its 37 year history, to continue with expansion into international markets, as well as to create new job opportunities locally. Royal Bank of Scotland has offered a flexible support package including working capital loans to facilitate a multifaceted approach to growth.
The business has also led an initiative and made significant charitable donations of seed money and resource into the development of plans for a world-leading visitor centre in the Group’s former hometown of Stornoway, to commemorate the Iolaire tragedy of 1919. It is hoped the Iolaire Centre will act as a catalyst for the town’s regeneration plan and harbour development, a key economic driver for the wider island community.
Robert Foster, Finance Director of Gael Force Group said:
“For almost 40 years, we have been driven to partner with our customers, whether it be the established salmon farmer or the hard-working local fishing community – so we know the importance of lasting, trusted relationships. It’s something we have in common with the team at Royal Bank of Scotland, who have made the re-banking process as streamlined as possible. They understand our vision and our shared sentiment for sustainable growth, and we are confident this is the beginning of a fruitful and lasting partnership.”
Barry Fraser, Relationship Director at Royal Bank of Scotland, said:
“As a business and as partners of COP26, Royal Bank of Scotland places a huge importance on sustainability – and the growth plans set out by Gael Force Group reinforced how keen we are to support them on this journey. The company has delivered consistent growth since being established in 1983, and we are looking forward to working with the management team to help deliver their strategy in the years to come.”