Catalus Energy Investments Limited has been announced as the preferred bidder to take over Scottish building services firm McGill & Co Limited which went into administration at the beginning of February following challenging trading conditions, disputes and delays in payment on a number of projects.
McGill & Co was established in 1981 as a specialist building contractor. The company provides services to clients in the residential, commercial and industrial sectors from its headquarters in Dundee and ancillary offices in Glasgow and Edinburgh.
The company trades through five divisions; mechanical & electrical services, facilities management; social housing; private residential; fibre and wireless.
Blair Nimmo and Geoff Jacobs of KPMG LLP were appointed as Joint Administrators of McGill & Co Limited on 01 February.
Blair Nimmo, Global Head of Restructuring and Joint Administrator at KPMG, said: “The Joint Administrators are pleased to announce they have appointed Catalus Energy Investments Limited as the preferred bidder and granted them a short period of exclusivity to acquire the business and certain assets of McGill & Co Limited – in Administration.
“Agreement of the sale is subject to due diligence and contractual agreement, however, both parties are hopeful that a transaction can be concluded in early course. Further information will be available in due course.”
A spokesperson for Catalus Energy Investments Ltd. commented: “We can confirm that Catalus Energy Investments, a group of professionals specialising in the consolidation of industries, mergers and acquisitions, finance and growth, is the preferred bidder in the sale of McGill & Co Ltd.”