KPMG secures 55 jobs in Aiken buyout

Blair Nimmo

KPMG was called in after Aiken’s directors had failed to secure fresh funding to help the company, which was founded in 1987, overcome the “challenging trading conditions” of recent years.

Joint administrators from KPMG said Aiken suffered after making hefty investments in equipment before the recent oil and gas downturn.

Immediately after the appointment of KPMG as joint administrators, a sale of the business and certain assets to Granite City and Inverness-based Global Energy Group (Geg) was completed.

The deal secures 55 out of 61 jobs at Aiken, which was previously owned by former managing director Danny Donald.

Blair Nimmo, joint administrator and head of restructuring for KPMG, said: “We are very pleased to have concluded the sale of the business and certain assets to GEG, as this will provide the best outcome for the company’s creditors and clients.

“We also want to thank the Aiken directors and staff for their assistance during a challenging process. We wish GEG every success for the future.”

A spokesman for GEG said: “We are delighted to conclude the purchase of this business, which brings complimentary skills to our existing business, and we look forward to working with the team to ensure we enjoy a long and successful future together.”