SMT was set up by Martin White, in the grounds of Glasgow International Airport, to provide a wealth of opportunities for relevant, local training for marine sector staff. Stream Marine Training (SMT) now offers training and consultancy services to the global maritime, oil and gas, renewables and construction sectors.
After eight years in the merchant navy, and running his own business overseeing oil and gas rig movements for international clients, Martin White found it hard to believe that the Scottish Marine sector sent their staff to the south of England for regulatory training; in terms of both time and money, it made no sense.
In the early stages of the business, funding was largely provided through equity and mezzanine debt. This enabled the company to develop a firefighting facility, small pool for basic in-water training, survival craft training centre and classroom. However, they were unable to continue to fund the expansion of the business to meet increasing demand.
SMT had to look elsewhere to finance their ambitious plans, including an 18,000ft2 building to house a training pool large enough for a helicopter shell and life boat, ten new classrooms, a technical training suite, a mock helicopter pad for fire training, suite of offices and a canteen; all of which would help to put SMT in a position to rival any European marine training provider.
We were in a position to grow very rapidly, and provide services that are desperately needed by a range of industry sectors, but needed the right funding to enable us to take advantage of the opportunities. Alderburn Finance and ThinCats together fulfilled that role extremely well.