There are new owners in place at Aberdeenshire-headquartered AquaTerra Group after a seven-figure management buyout.
Managing director Stephen Taylor, appointed to the role this year, has led the deal becoming majority shareholder.
He’s joined by commercial director Nigel Whitton and marine services director Frank Hall who have taken minority stakes.
Peter Robinson, formerly the majority shareholder, will continue in his role as chairman under the new ownership.
The deal also comes as accounts director Elaine Pacitti announced her plans to retire early next year after almost 20 years of service.
Stephen Taylor said: “I am delighted to take the lead for this fresh chapter in AquaTerra’s business development and look forward to the many exciting opportunities ahead.
“Alongside Nigel, Frank, and the rest of our talented and experienced team, we will continue to build on the strong foundations that Peter and Elaine have laid for the business over the past 20 years.
“Peter will continue to work closely with me to deliver our planned strategy for the business.
“With a growing client base and an ever-improving range of products and services, I feel extremely positive about the future for AquaTerra”.
Headquartered in Kintore, the energy services specialist established itself in 2004 as a construction, maintenance and inspection specialist, and has delivered work across the oil and gas, decommissioning, marine and offshore wind markets.
It has 25 staff and contractors in the office, with a varied headcount offshore depending on demand, hitting as high as 80 during its peak summer period.
The firm has seen a “significant increase” in demand for its services as mangy clients now move to late life and decommissioning phases.
“On the other end of the energy spectrum, we have several new clients in the offshore renewables market, and we are very excited about continuing to support that energy transition,” Mr Taylor added.
The buyout comes after Mr Taylor became managing director as part of a change-up, which saw Mr Robinson move to chairman, in February.
Last year the company announced the formation of a new Marine and Drilling division and the expansion of its Inspection department.
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