2e2 Isle of Man saved by buyout

Liquidator confirms sale of offshore business thought to employ about 65 people

2e2's Isle of Man business has found a buyer, its liquidator has confirmed.

Earlier this month, Gordon Wilson of auditor PwC was appointed as liquidator. Wilson told ChannelWeb in an email today that he was discharged from these duties two days ago following the successful sale of the company's shares.

2e2 IOM Ltd was born out of 2e2's 2005 acquisition of the offshore services business of XKO for a consideration of £13.25m. The deal, which also included operations in the Channel Islands, added about £20m to 2e2's annual turnover.

As of two years ago, the Isle of Man operation employed about 65 staff, led by managing director Jonathan Camfield, who has helmed the business for seven years.

ChannelWeb contacted 2e2 IOM to ask who has bought the business and how many jobs are to be saved as a result, and was told to expect a statement this week.