Tycoon adds to shipping interests

McColl secures 73 jobs after acquiring Highlands firms

Jim McCollScottish tycoon Jim McColl has rescued 73 skilled engineering jobs after buying MacKellar Sub-Sea and its related company, Tritech Nairn.

McColl has acquired the businesses through Ferguson Marine Engineering (Holdings) Limited, a subsidiary of Clyde Blowers Capital, his private equity company.

The deal, which is for an undisclosed sum, secures the future of two engineering businesses in Grantown-on-Spey (MacKellar Sub-Sea) and Kinloss (Tritech Nairn).

Both businesses are continuing to trade as normal and all staff have transferred to Ferguson with immediate effect.

Tom MacLennan and Iain Fraser, partners with administrator FRP Advisory, the restructuring and advisory firm, worked on the deal.

Mr MacLennan of FRP Advisory said: “We are very pleased to have concluded the going-concern sale of both businesses to Clyde Blowers Capital.  The deal is great news for the workforce, customers and the economy of the Highlands.  We would like to thank all parties who expressed an interest in the business and all the employees, customers, suppliers and agencies that supported us as we continued to trade and worked to secure a deal.”

Mr McColl, chairman and chief executive of Clyde Blowers Capital, said: “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.  We look forward to working with the existing management team to integrate and grow the business and are also delighted to welcome MacKellar’s loyal workforce to the group after a period of uncertainty.”

MacKellar Sub-Sea is a specialist sub-sea oil and gas engineering and fabrication business.  The company has a niche expertise in a number of different market segments, including sub-sea wellhead protection systems, tree frames, guide bases, offshore transportation systems and hydro-electric turbines.

Tritech Nairn specialises in grit-blasting and painting facilities, and currently operates from the former RAF base in Kinloss.

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