THE Aberdeen-based subsea controls engineering division of SEA, a subsidiary of technology group Cohort, has undergone a management buyout as it looks to grow its core business in the North Sea.
Since the deal was completed, the company has reverted to a new version of its original trading name, J&S Subsea Limited.
The business is now wholly owned and managed by the senior leadership team, led by Matt Blair.
All 17 personnel have been retained and the firm has plans to expand its engineering and production workforce in the coming months.
J&S Subsea is a global subsea energy controls company for new and recertified equipment
The company also has plans to move to a new facility in the Aberdeen area that will allow them to support current operational requirements as well as giving options for expansion and new opportunities.
Mr Blair, J&S subsea executive chairman, said: “We are well positioned to build on our reputation and experience in subsea controls and operational engineering support to drive the business forward in the UK Continental Shelf as well as overseas.
“As businesses engage further in the energy transition, the number of subsea campaigns in the North Sea are on the rise. It’s our strategy to focus on supporting these projects and demonstrate the value we provide with our responsive, safe and high-quality solutions.”
The transaction was supported by law firm Addleshaw Goddard and corporate finance advice was provided to the management buy-out team by Dow Schofield Watts in Aberdeen.
