Seacroft Marine Consultancy agrees management buyout

27/10/2023
Seacroft Marine Consultant’s new joint owners, Michael Cowlam and Magdalena Pierce in the landmark Roundhouse at Footdee, Aberdeen.

ABERDEEN-based marine consultancy, Seacroft Marine Consultants is pleased to announce a management buyout with Jennifer Fraser stepping down from her position as company director at the end of this month.

Current co-owner Michael Cowlam will become the major shareholder and assume the role of managing director, while finance manager, Magdalena Pierce, replaces Jennifer as joint owner and company director.

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Seacroft specialises in marine consultancy, inspection and assurance services to offshore operators and renewable energy companies, contractors, support vessel and rig owners, and port and harbour authorities.

Founded in 1995 by Captain Roderick MacSween, the business has thrived under the joint leadership of his daughter Jennifer and Technical Director, Michael Cowlam, since 2004.

Having dedicated 27 years to Seacroft, Jennifer said: ‘I have decided to step away from the business to spend more time with my family and pursue new adventures. I am confident in the company’s continued success, and I believe Magdalena will excel in her new role alongside Michael.’

The management buyout comes at a time when the company has gone from strength to strength as it expanded its operations with a new office and staff in Lowestoft and plans for a further one in the North of England. This investment is the result of a surge in demand for offshore renewables work in these areas.

Seacroft has also landed new marine assurance and technical authority services contracts in the last few weeks from two major energy operators worth in the region of £1 million over the next three years. 

Magdalena Pierce joined Seacroft in 2021 as finance manager having worked in accountancy practice and in the finance departments of multi-national energy companies over the last 15 years.

‘It is an honour to step into the role of joint owner and company director at such a pivotal time in the industry. I look forward to the opportunities that lie ahead,’ said Magdalena.

Michael Cowlam paid tribute to his long-standing colleague and co-owner. ‘Jennifer and I have worked together for over 20 years, building the company up to the strength we have now. Her pioneering work on some of the company’s processes in the early days set industry standards and helped make Seacroft the consultancy it is today. We wish Jennifer and her family well for the future and look forward to the next steps in the company’s growth.’

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