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Entrepreneurial Scotland Annual Dinner 2012

the inspiration goes on...

Parkmead Group Chairman takes home top accolade at Entrepreneurial Scotland Awards Dinner

Tom Cross, Executive Chairman of emerging independent oil and gas company, Parkmead Group, was named Entrepreneur of the Year at Entrepreneurial Scotland annual awards dinner at the Glasgow Hilton last night. 

Entrepreneurial Scotland Entrepreneur of the Year awards, in association with Deloitte and media partner The Herald, are Scotland’s leading and longest-standing annual awards for growth-oriented entrepreneurs, recognising those who have excelled in this area over the last 12 months. 

Since selling Dana Petroleum, which he founded, for $3 billion in 2010, Tom has revitalised Parkmead Group by bringing in a strong technical and commercial team to take it forward. The Group has, this year, made significant strides announcing four acquisitions within a seven month period, adding substantial reserves to the Group’s portfolio as well as generating its first production. 

The business of exploring oil and gas is in itself difficult and high risk, however, Tom has never been faint-hearted in identifying reserve opportunities. Tom acquired the reserves required to seed Dana by travelling and living extensively in Siberia in the early 1990s, around the time of the break-up of the Soviet Union, to capture as many licenses as possible with limited resources. This did not come without challenges – including positioning a proposal to the authorities that de-risked their decision to grant an, at that time, unknown individual an exploration licence.

Mike McGregor, Partner and head of entrepreneurial business at Deloitte, and event judge, said: 

“Tom’s record with Dana is outstanding and exemplifies an individual who is not easily deterred and understands how to get the best out of people and business opportunities. Tom is able to set a clear vision for each of his business interests and the momentum he is already generating at the Parkmead Group demonstrates his team and the market’s advocacy of his leadership and strategy. He is a thoroughly deserving winner and an excellent standard bearer for Scotland in the oil and gas sector.”

Also awarded on the night was Emerging Entrepreneur of the Year, Hermann Twickler, founder of Dundee based PressureFab Group. 

Despite setting up in 2009 with no customers, no products and no staff the Group now counts some of the largest operators in the oil and gas sector among its customers and employs 85 staff.

As a newcomer to the market, with no proven track record, Hermann encountered challenges in securing credit from both suppliers and lenders and consequently, he invested his life savings, including the sale of his house and car, into creating PressureFab Group.

Mike said: “Hermann’s establishment and subsequent positioning of PressureFab is very impressive against the backdrop of the current economic climate. He took a significant risk in turning down lucrative employment opportunities and using his entire life savings to set up the business. 

“Hermann has built an excellent company serving some of the largest companies in the world and has successfully bucked the trend by exporting Scottish engineering and manufacturing to the Far East and the US. Hermann has created almost 90 new jobs in three years, doubled revenue each year and always made profit, and he’s achieved all this during the biggest recession since the 1930s. This is an excellent example of entrepreneurship and personal leadership, supported by job creation, profitability and a platform for continued growth.”

John Anderson, chief executive of Entrepreneurial Scotland, added “The stories of each of tonight’s nominees demonstrate that despite this period of prolonged economic turbulence, there are still opportunities out there. It is right that, through Entrepreneurial Scotland, we celebrate their achievements, and important that we draw inspiration from their success as we endeavour to drive the Scottish economy forward.”

More on the awards can be found on our blog. 

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