Argyll-based aquaculture equipment specialist Fusion Marine has come under independent control following the successful completion of a management buyout (MBO) from its parent company, the Cheshire-based Fusion Group.

The MBO was carried out with the full agreement of Fusion Group - an international supplier to the utility industries - which is continuing to expand its operations in other parts of the world.

According to managing director Stephen Divers, who led the MBO, the move will provide Fusion Marine with exciting new opportunities for expansion.

"Fusion Marine has enjoyed tremendous growth since it was founded in 1995 and we have attained the reputation of being one of the world's foremost suppliers of aquaculture equipment," said Mr Divers.

"The advice provided by HIE Argyll and the Islands was invaluable in the early stages of brokering the deal. It gave us the support we needed by highlighting the strengths and weaknesses of our proposition and ultimately signposted us to appropriate sources of finance'.

HIE Argyll and the Islands development manager Lachie Beaton added: "Small businesses often face difficulties in accessing finance, particularly for small scale, early stage assistance. We are keen to stimulate a culture of enterprise, with more businesses of scale, and the mentoring of the MBO is a good example of the advice we can offer."

Based at Barcaldine, by Oban, Fusion Marine has diversified in recent years into other fields of operation, including the supply and installation of large diameter piping for the hydro power industry and the development of a range of outdoor leisure equipment made from recycled plastic including pontoons and furniture.

"We have grown to such an extent that it is now possible for the company to confidently stand on its own two feet and continue to expand under the full control of its own management," said Mr Divers.

"The MBO will enable us to react quickly to changing industry requirements, ensuring that our customers throughout the world continue to receive the best possible service."