Administrators for Aberdeen firm Specialist Subsea Services (SSS) said yesterday they had completed the sale of its assets and intellectual property to James Fisher Offshore (JFO), part of marine service company James Fisher & Sons, for an undisclosed sum.
SSS, which was part of Norwegian group Reef Subsea, collapsed in February.
A total of 77 jobs were lost immediately, with another five initially kept on as KPMG restructuring experts tried to find a buyer for the business.
The company specialised in remotely-operated vehicles (ROVs) and offshore survey, geotechnical and subsea intervention, including vessel operations. It owned five ROVs and subsea survey equipment.
A closing date for the business and assets was set and JFO was awarded preferred bidder status on March 20.
Joint administrator Blair Nimmo said it took a while to finally get the deal done as assets were spread across Europe.
He added: “We would like to thank everyone involved for their significant efforts in helping to deliver this outcome.
“We are very pleased to have concluded the sale of these assets to James Fisher Offshore which will provide the best outcome for the company’s creditors and may also generate the opportunity for future employment.”
SSS was hit when its majority owner and biggest customer, Reef Subsea, sank into liquidation after backers pulled support in the wake of falling oil prices.
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