Staff will all transfer to new owner
Engineering consultancy ClerkMaxwell has been bought by global giant Costain.
The deal is worth £3.2 million which will mainly go to the management team at the Aberdeen company.
Costain has initially taken 75 per cent of the business but has an option to snap up the remaining quarter before the end of May.
Further payments will be made depending on the growth of the business.
In 2010 ClerkMaxwell reported pre-tax profits of £300,000 on turnover of £4 million.
The company and its 50 employees will be integrated into Costain's energy and process division.
John Wilson, managing director of ClerkMaxwell, said: "Costain is the perfect home for ClerkMaxwell.
"We will bring additional skills and reach to an already strong oil and gas capability and Costains established customer base will provide a major opportunity for us to realise our ambition of becoming a market-leading provider of value adding, front end engineering services."
Andrew Wyllie, chief executive of Costain, said: "We are delighted to have acquired ClerkMaxwell.
"It is absolutely in-line with our strategy of broadening our existing front-end consultancy, project delivery and operations and maintenance offering through a combination of organic development and acquisitions."