Supporting serial entrepreneur Ian Kirk for three decades | Aberdein Considine Legal

Supporting serial entrepreneur Ian Kirk for three decades


Client: Vulcan Completion Products

Ian Kirk's relationship with Aberdein Considine Legal dates back to the early 1990s, when he had a motorcycle shop in Peterculter, near Aberdeen.

Three decades on, Ritchie Whyte, a partner in the Corporate and Business Advisory team at Aberdein Considine, is supporting the 66-year-old as he grows his latest venture, Westhill-based Vulcan Completion Products.

His previous business was Portlethen firm Downhole Products, which he co-founded in 1994. That operation was sold in 2008 to US company Varel International Energy Services in a multi-million pound deal.

Ian stayed on with Downhole Products before stepping aside as president in 2015.

However, his retirement did not last long as he quickly began to yearn for a return to the excitement of the business world.

Ian spotted an opportunity for a new player in the oil service sector and so Vulcan was born. Its team of industry professionals specialise in the design and manufacture of engineered solutions for the completions market globally.

The firm sells direct to a variety of customers including major oil groups, as well as big oil service companies. It has a network of sales distributors and agents in 24 countries.

The business is growing fast - and in 2019 it won contracts worth £10million which led to it acquiring 2,500sqft of new warehouse space close to its head office at Arnhall Business Park.

The company currently employs nine people and this is expected to increase to 15 in the near future. Annual turnover is forecast to hit £2million this year and rise to £6million-plus in the next couple of years.

Sale proceeds from Downhole Products meant Ian did not have to raise start-up funding for Vulcan - and, with no external shareholders, he was able to set up Vulcan in the style of a workers' co-operative, and it recently issued shares to all the employees, with support from Ritchie and the corporate team at Aberdein Considine.

What the client said...

"I have had a long-standing relationship with Aberdein Considine. They provide me with a first-class legal service for all my business dealings - as well as for my personal needs such as private client advice.

"It is very convenient for all these services to be available under the one roof."

"Ritchie's services over the last few years in a variety of areas have been invaluable. He helped me with the legal side of setting up Vulcan, and also things like the paperwork for agreements with foreign sales distributors and agents.

"He also played an important role in helping set up the employee share scheme."

Ian Kirk, Founder, Vulcan Completion Products

Ian Kirk

About Vulcan