Scottish offshore lifting engineer Specialist Maintenance Services (SMS) has been bought out by its management.
Joint managing directors Bert Middleton and John Morrison bought the shares held by 1W Group on 4 March 2003. Apart from the appointment of a new finance director, Jim Sutherland, no changes to the company structure are planned.
SMS, based in Aberdeen, provides personnel and support to oil and gas platforms and offshore drilling rigs in UK waters and abroad. About 60 staff are employed out of Aberdeen with a further 50 employed through a joint venture in Malaysia.
The company was formed in 1988 and became part of the 1W group in 1992.