Three60 Energy acquires Aberdeen firm in multimillion pound deal

THREE60 Energy has acquired Aberdeen-based engineering firm Samphire Subsea in a multimillion pound deal hailed as the “missing part of the jigsaw”.

Walter Thain, chief executive of Three60, said the company wasn’t “backing away” from its oil and gas businesses, but admitted it needs to prepare for the future.

“We have really diversified our business to become a wider energy services company,” he said.

Samphire Subsea was formed 12 years ago by husband and wife Paul and Karen Soutar.

It’s 20 employees will now “swap boiler suits” to join 360, said Mr Thain.

This decision follows Three60’s announcement that it has secured two significant deals with Sumitomo Electric, which is constructing a subsea cables manufacturing facility in the Highlands at Nigg.

This recent acquisition marks an extension of the company’s strategy to expand into new areas over the past two years. The previous year, Three60, under the majority ownership of Simmons Private Equity, added partners Pryme Group and Flexlife, increasing its workforce to 1,000 employees.