Fife-based Sabre Safety Ltd and its principal assets has been sold from Administration to Sabre Safety Services Limited, a newly formed entity owned by Starn Energy Services Group.
Following the appointment of the Joint Administrators last month, KPMG received ‘strong interest’ in the opportunity to acquire the oil and gas safety services operations of Sabre.
All 15 employees retained by the Administrators (14 in Cupar and one in Aberdeen) have been transferred as part of the transaction.
Starn Energy Services Group is a private equity-backed oilfield services business with a UK base and international presence. Its aim is to build a group of businesses focused on safety and delivering economic benefit to its customers.
Blair Nimmo, Joint Administrator and Head of Restructuring for KPMG UK, said: “We are pleased to complete 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.”