The company was founded in 1971 by partners Frank Peterson, Donald Brown and Tom M^cGill trading under the name Peterson, Brown & M^cGill. The PBM premises were based south of Aberdeen in Brechin, the home town of all three partners. Initially PBM manufactured solely in a sub-contract capacity before going on to develop and market its own product line.

Over the next 15 years the company grew steadily in size and established Pioneer Oilfield Equipment in Aberdeen. The two operations ran in tandem, trading under their original names with the Aberdeen base mainly generating export business.

In 1986 a new purpose-built factory was constructed in the Kirkton Industrial Estate, Arbroath. PBM moved its base from Brechin to the new

site at that time, while maintaining operation of Pioneer Oilfield Equipment in Aberdeen for two years before consolidating all business at the new site.

In 1992 the PBM logo became part of history as the three partners reformed the company under the name Pioneer Oil Tools Limited. Demand steadily increased over the next five years until in 1997 the factory was extended by 20% in order to increase capacity.