The acquisition includes The Port of Nigg, Global Energy (Fabrication), a multi-site fabrication and manufacturing business and Global Energy Services, which provide scaffold and access teams.

Mitsui, which first invested in Roy MacGregor’s GEG (Holding) Limited in 2012 – taking a 25.5% stake – has been a valued shareholder and strategic partner in the group’s growth.

Post acquisition, Mitsui will own 51% and MOL 49% of the three companies.

This strategic investment positions The Port of Nigg for its next phase of development as a critical infrastructure asset within the UK’s energy transition, building on its leading role in supporting the energy industry including oil and gas and offshore wind.

Mitsui has committed to further investing in the site, including expanding manufacturing capacity and quayside infrastructure to meet growing demand from a wide range of energy services sectors both for the oil and gas and offshore wind markets.

Following the divestment of the three business units, Roy MacGregor’s Inverness-based GEG (Holding) Limited – operating as Global Energy Group – will continue to offer services at The Port of Nigg through its supply chain companies, Global Port Services, Global Crane Services, and Global Wind Projects – as well as the supply of labour on a project-by-project basis.

The Aberdeen-headquartered energy engineering company, Apollo, also remains part of the Global Energy Group portfolio.

GEG (Holding) Limited will retain the rights to the Global Energy Group name. It will continue to operate its businesses from locations including The Port of Nigg, Invergordon Port Facility, as well as retaining offices in Inverness, Aberdeen and Edinburgh.

Roy MacGregor, chairman of Global Energy Group, said: “We are hugely proud to be passing on the baton at The Port of Nigg having spent much of the last decade establishing it as a truly world class multi energy facility.

“Having worked closely with our trusted investor, Mitsui, since 2012 we believe the time is right to let them drive the next stage of development at Nigg – and we believe they are the correct custodian for a facility that provides so much employment and prosperity for the Highlands.

“Under their guidance the port will continue to grow and develop – providing long-term, secure, skilled employment opportunities for generations to come, as well as driving Scotland’s energy transition.

“We look forward to continuing to work with them through our companies that service and deliver projects at the port, including Global Port Services, Global Crane Services, Global Wind Projects.”

Speaking on behalf of Mitsui & Co., Makoto Takasugi, chief operating officer of Iron & Steel Products Business Unit, added: “We are privileged to take on the stewardship of The Port of Nigg and the associated energy services businesses, building on the strong foundations developed by Roy MacGregor and the Global Energy Group team.

“For over 13 years, as a shareholder and board member, we have witnessed the impressive growth of Global Energy Group and the strategic importance of Nigg in the UK’s energy industry.

“We look forward to carrying forward that legacy, working with the skilled local teams across the three companies for years to come – servicing the huge demand for offshore wind power – as we grow our role in energy transformation across Scotland, the UK and Europe.”

Highland Council leader Raymond Bremner commented: “Roy MacGregor and the Global Energy Group have established an outstanding facility which has been integral to the establishment of the Inverness and Cromarty Firth Green Freeport and which has led the way in supporting the country’s energy transition.

“The legacy they leave is a substantial one – significant inward investment and jobs for the Highlands.

“We wish the new owners every success as they drive the next stage of development at Nigg, building on the solid foundations which have delivered long-term, secure, skilled employment.”

Highland Council convener Bill Lobban added: “Green energy continues to offer hope and opportunity for present and future generations to develop a highly skilled career without having to leave the region.

“Though under new ownership, we have no doubt the port will continue to innovate and grow as Scotland’s energy transition continues apace, and Nigg will continue to be a tribute to all that Roy has achieved to date.”