Partner: Grant Thornton UK LLP
Background
Highlands and Islands Enterprise (HIE) is the Scottish Government's economic and community development agency for the Highlands and Islands of Scotland. The Underwater Centre (TUC) in Fort William is a globally significant diver training and subsea equipment test and trials facility which entered into administration. From administration, the optimal outcome is for a private sector firm to acquire the assets and run the business in a way that continues to underpin subsea technology development and training in Scotland. Public sector partners will work jointly and collaboratively with industry, academia and stakeholders to investigate and establish pathways to create a world leading, multi-use, offshore test and demonstration campus – the Loch Linnhe Subsea Campus proposal. The campus would seek to enable oil and gas, offshore renewables, aquaculture and other subsea activities accelerate cost reduction in subsea engineering, and in doing so, create wealth and economic growth through academic, technology and industrial development.
The Requirement
HIE and its public sector partners jointly and collaboratively required a suitably qualified and experienced supplier to provide ‘test & trialling’ and ‘saturation diving’ advice and guidance. These included: Provide tactical, financial and accountancy advice & short term options during administration including for public sector acquisition of assets critical to future test & trialling activity (and saturation diving) in Loch Linnhe; provide capital cost estimates to inform potential bids including purchase, mothballing, storage, maintaining and reinstating costs; provide anticipated opex requirements for the operation of an HSE compliant saturation diver facility utilising the acquired assets.
Our Success
Bramble Hub and Grant Thornton UK were selected as offering the required expertise to deliver recommendations and business and investment cases.