Sir Peter Ogden invests 2m in Spencer Ogden
Sir Peter was one of the original backers of the energy recruitment agency, investing £1m to fund its launch in 2010, and later supporting its international expansion.
Spencer Ogden has bucked all trends to become one of the fastest growing British companies, with offices around the world. It recently announced its annual results for 2013, during which time the company turned over £50.3m. Sir Peter’s latest investment will continue to fund the company’s plans for global expansion and the running of its graduate academies.
Sir Peter commented, “Since launch, my business partner, David Spencer-Percival, and I have grown the company from a UK start-up, to one with twelve offices spanning nine countries across five continents. The extra investment will help us accelerate this expansion, increasing our turnover and our global footprint. It will also be used in the development of Spencer Ogden’s graduate training academies, which have been fundamental to the success of the business. ”
The latest contribution will bring the total investment in Spencer Ogden to £10m. To date the business has been wholly funded by Sir Peter and David Spencer-Percival with the remainder of the investment coming out of company profits.
Established at the heart of the recession, Sir Peter and David Spencer-Percival started Spencer Ogden after spotting a gap in the market for an agency that served multiple sectors of the energy industry. Initially the company supplied five divisions of the market, but this expanded to eight after just one year. So far its recruiters have placed over 5,500 candidates in energy roles around the world.
Spencer Ogden plans to increase its total headcount beyond 400 by January 2015 and will manage this by further developing its agency network with the addition of four new offices. By the end of 2015 it expects to be turning over £100m, and by 2018, £250m.
David Spencer-Percival said, “Our forecasted figures are ambitious and whilst we have set extremely high goals so far we have exceeded every one of them. Sir Peter’s investment will help us to continue to push forward, enabling us to win bigger contracts, attract new candidates and expand our services around the world, which is exactly what the energy industry needs – a global supplier.”
The company has won numerous awards in recognition of its growth, innovative approach to energy recruitment and as an outstanding company to work for. In 2013 it listed fifth in the International Track 200 while David Spencer Percival, was awarded Entrepreneur of the Year at the 2013 National Business Awards.
Sir Peter concluded, “I have been delighted by Spencer Ogden’s global performance to date and particularly by its turnover and gross profit in 2013. Right now I am attending the launch of the company’s new super-hub in Dubai I expect this will be one of many new offices for Spencer Ogden in this year. I plan to continue my investments into the business and to help it become the world’s leading energy recruitment agency.”
Sir Peter Ogden holds other significant investments in Computacenter, Dealogic, Motorsport Vision, Blink and Deltec Private Bank.