Takeover of sub sea firm secures Kinloss jobs

On the road again -
On the road again – MacKellar Sub-Sea takeover

More than 70 jobs have been saved thanks to a private investor stepping in to purchase a troubled offshore support firm from collapse.

Grantown firm MacKellar Sub-Sea was placed under the control of administrators earlier this year after the downturn in oil prices had an adverse effect on the business.

The troubled firm includes Tritech Nairn Ltd, who operated out of a hanger at Kinloss.

However, after weeks of speculation it has emerged that Ferguson Marine Engineering (Holdings) Ltd, a subsidiary of Clyde Blowers Capital, had agreed a deal for an undisclosed sum to take over the company – securing all 73 jobs.

Joint administrator Tom MacLennan, a partner at FRP Advisory who had brokered the rescue deal, said: “This deal is great news for the workforce, customers and the economy of the Highlands and Moray.”

Chairman and Chief Executive of Clyde Blowers Capital added: “We have a strategic vision to transform Ferguson into a leading marine engineering business and key pillars of that strategy are to enhance our service offering and increase our presence in attractive end markets.

“Ferguson’s acquisition of MacKellar Sub-Sea, which has a strong track record in the niche subsea oil and gas market, will help to achieve these objectives.”