Name:Ikon Science Industry/Sector: IT, software and telecoms Date founded: 2001 The boss: Martyn Hargrave Location: South East Latest turnover: £24m Three-year compound growth rate (%): 30.52 Latest EBITDA: £1.3m
It develops these technologies into commercial software solutions on its RokDoc platform, which enables geologists and engineers to understand and predict the properties and behaviour of rocks in the Earth’s subsurface. This enables its clients – the world’s oil and gas exploration and production companies – to target and drill profitable and safe wells. The business grew its service footprint with the acquisition of GeoPressure in 2005 and then JRS in 2012. The five-year growth plan it set in 2009 resulted in strong compound annual growth rate, with offices opened in key energy hubs such as Perth, Calgary and Rio de Janeiro. The focus was then placed on expanding the management team to support this growth and globalisation of the company, before the most recent acquisition of Terra added real-time drilling monitoring solutions to the company. Led by Founder and CEO Martyn Hargrave, Ikon prides itself on its customer focus, ensuring its developments are relevant to client’s issues. It currently employs over 200 staff in 15 locations. According to Hargreave, Ikon’s team has helped this growing company catch the attention of the world’s large oil companies through commitment and innovative products. Over the next five years, he plans to increase the company’s headcount by 50 per cent – the result of increased market visibility, new clients coming on board, a larger product footprint and a wider geographic reach.
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