Marcus Richards
Legasea is an environmental energy service company with a focus on the Circular Economy for subsea production systems and controls. We specialise in electrical, hydraulic and mechanical engineering services.
Tell us about yourself?
I started out as a Mechanical Engineer, working on Gas Turbines and Jet Engines, and later moved into roles in Quality, Sales and Operations, leading to working on projects around the world. Between 2014 and 2017, I completed an MBA, and afterwards began planning to create a new business.
If you could go back in time a year or two, what piece of advice would you give yourself?
Don’t worry about the current challenges, they will just be bumps in the road, and things will continue to progress well in the long term.
What problem does your business solve?
The business is focussed on the circular economy, and solves the problem of good equipment being routinely recycled, rather than reused. By taking equipment, considered to be waste, and returning it to serviceable condition, we also ensure that the carbon associated with replacing the equipment is significantly reduced.
What is the inspiration behind your business?
We were inspired to create the business by seeing such a model thrive in other industries, and realising that the energy industry was lacking a reuse option. Other industries, including auto, aviation, and even space, routinely reuse equipment and it seemed unbelievable that the energy sector did not work in the same way.
What is your magic sauce?
Legasea differs from other companies in our sector because we have pioneered a new way of doing business, and we have been welcomed as a refreshing change to the way equipment is managed in the energy sector.
What is the plan for the next 5 years? What do you want to achieve?
Over the next five years, we plan to continue to grow, whilst supporting our clients locally. During this time, we also intend to become more established in overseas locations, with Legasea facilities supporting local operations in each region.
What is the biggest challenge you’ve faced so far?
We established the business during 2019, beginning trading in September of the same year, and good progress was being made going into 2020. When Covid began, it put a lot of our growth plans on hiatus, and we had to adapt to the changing environment. Despite this, however, we did manage to continue to increase our client base and team during this time, setting the foundations for increased levels of business in 2022.
How do people get involved/buy into your vision?
We want to work with like-minded organisations that see the benefits of the circular economy, and can be reached via the contact form on our homepage https://www.legasealtd.com/
