Proserv has consolidated its position for sustainable growth and future expansion following the successful completion of a $215million (approximately £133million) refinancing agreement.

The term loan and revolving credit facility, which is being supported by HSBC, Lloyds, Barclays, Santander, Wells Fargo and RBS after Simmons and Co Aberdeen advised Proserv on arranging the corporate finance, will be used to pay down existing debt, pursue new strategic acquisitions and support the company’s continued growth strategy.

Proserv has experienced exceptional growth within the past two years with turnover rising from £112million ($181million) in 2011 to around £196million ($316million) within 12 months.

The refinancing agreement reinforces Proserv’s market-leading position and fast-growing status as a leading provider of exploration & production, drilling, and infrastructure technical solutions and services to the global energy industry.

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