Administrators have found a buyer for oil and gas safety services specialist Sabre Safety, securing 15 jobs at the Fife-based company.
Thirty jobs were lost when Sabre, a specialist in offshore and onshore hydrogen sulfide safety and protection, called in administrators from KPMG last month after falling victim to a “significant drop in sales due to the reduced levels of activity in the oil and gas sector”.
But KPMG said it had received “strong interest” from potential buyers, and has now struck a deal with private equity-backed Starn Energy Services Group, based in Aberdeen.
All 15 employees retained by the administrators – 14 in Cupar and one in Aberdeen – have transferred to Starn as part of the agreement.
Blair Nimmo, joint administrator and head of restructuring for KPMG in the UK, said: “We are pleased to announce completion of the sale to Starn Energy Services Group, which will preserve employment, allow continuity of customer service and provide an excellent opportunity for the purchaser to develop the UK and international services offered by Sabre.
“Notwithstanding difficult times for the oil and gas sector, the outcome achieved here demonstrates that appetite for investment in businesses in this sector continues to exist, under the right circumstances. We wish the purchaser every success in taking the business forward.”