Mentor IMC Group secures funding to fuel growth in US

March 16th 2009 – Global Oil and gas professional resource consultancy, Mentor IMC Group (Mentor IMC), has secured a £600,000 funding provision from The Royal Bank of Scotland (RBS) that provides working capital to fuel the growth of its North American operation.

The funding, provided by RBS Invoice Finance, will be used by Mentor IMC's Houston office to supplement new development opportunities in the US market.

Mentor IMC supplies senior professionals to work in project management, engineering, construction, commissioning and operational roles on oil and gas projects throughout the world. The company, which was founded in 1987 and is headquartered in London with offices in Singapore and Perth, opened its Houston office in 2002. This funding deal will assist Mentor IMC's North America Regional office to spearhead growth in the US and Canada.

Mentor IMC is a long-term customer of the RBS Group and Senior Relationship Manager Neil Bradley at RBS Invoice Finance has worked closely with the business to support its UK arm. As Mentor IMC sought to expand, it approached Neil who, understanding the business, was able to provide further funding assistance facilitating the company's US launch.

John Richards, CEO of Mentor IMC, said:

"This funding package will allow us to realise our objective of gaining significant market share in North American to become one of the market's leading suppliers of oil and gas professionals. It is a major endorsement of the company and our plans for the US division. Despite challenging times in the financial markets, banks are still getting behind good businesses like ours with sound objectives operating in a thriving market."

Neil Bradley, Senior Relationship Manager at RBS Invoice Finance, added:

"RBS has long been impressed with the strategic vision of Mentor IMC and I am delighted to work closely with them as they expand into foreign markets."

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