Ferguson Marine Engineering Grabs MacKellar Sub-sea
- Business & Finance
Ferguson Marine Engineering, a subsidiary of Clyde Blowers Capital has, for an undisclosed amount, acquired MacKellar Sub-sea Ltd and its related company Tritech Nairn Ltd.
The Subsea engineering and fabrication business, based in Grantown-on-Spey, had gone into administration after falling victim to financial pressures stemming from unspecified contracts.
In February this year, Tom MacLennan and Iain Fraser of FRP Advisory were appointed as joint administrators for the company and its related businesses, after which 24 jobs were lost.
However, following the acquisition, according to the joint administrators, more than 70 jobs have been saved and are to transfer to a Port Glasgow-based company Ferguson Marine Engineering.
According to reports, MacKellar Tritech, a dormant business with no employees, was not included in the sale.
Jim McColl, chairman of Clyde Blowers Capital, which acquired Ferguson after it fell into administration last year, commented: “We have a strategic vision to transform Ferguson into a leading marine engineering business and key pillars of this 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.”
Tom MacLennan of FRP Advisory, added: “We are very pleased to have concluded the going-concern sale of both businesses to Clyde Blowers Capital IM LLP.
“The deal is great news for the workforce, customers and the economy of the Highlands.”
Subsea World News Staff