ABERDEENSHIRE based construction and engineering specialist AquaTerra Group has snapped up fellow north-east firm Subsea Engineering & Technical Services (Sets) out of administration.
The move, by the Kintore based company, has saved five jobs.
Administrators were appointed for Sets, which was owned by Chris & Sharon Tierney, of Balmedie, after the business suffered “considerable trading and cash flow problems.”
Peter Robinson, AquaTerra Group’s managing director, said: “The acquisition of SETS represents a major step forward for our business and significantly enhances our offshore construction division.”
The acquisition value was undisclosed.
AquaTerra, which is currently involved in the removal and repair of more than 40 conductors and caissons in the North Sea, said the newly acquired business took its headcount to more than 120, and gave it additional equipment and capabilities.
