Investment group, United Capital, has expanded its portfolio with the acquisition of Glasgow-based Saltire Facilities Management, a company with over 320 direct employees and annual turnover of circa. £30 million.
Saltire Facilities Management, was founded in 2000 as a public/private partnership with North Lanarkshire Council to operate as an in-house facilities division, which was later sold by to the major shareholder.
It is currently one of the UK’s largest central heating and electrical service providers with offices across Scotland and South West of England.
In December 2019, United Capital set out an ambitious buy-and-build strategy, which sees the company target the acquisition of UK building services and facilities management companies with a collective turnover of £300 million over the next three years.
In 2019 it acquired former Scotland Top 500 company, McGill, and Angus-based electrical services firm, Alliance Electrical.
United Capital CEO, Graeme Carling commented: “Our team are delighted to get this deal over the line, Saltire is an exciting addition to the United Capital family. Saltire are exactly the type of business that we are looking to acquire, they are a profitable business, deliver facilities management services on large public sector contracts and most importantly have a solid and vastly experienced management team leading the company.
“The existing staff, operatives and management will remain in place and it will be business as usual. Saltire’s customers will continue to receive exceptional service from the same fully qualified and experienced team. The United Capital Board of Directors will be on hand to support and grow the company moving forwards.”
Saltire Facilities Management General Manager, John Reynolds added: “The team at Saltire are happy to have completed the sale of the business to United Capital, but of course, the work doesn’t end. Our experienced team of staff, operatives and managers will continue to run the business on a day-to-day basis with the added support of Graeme and his team. It is an exciting time for Saltire as we join the United Capital family.
“This deal is also great news for our customers who will not only continue to receive the same high level of service that they have come to expect, but with the added expertise of the United Capital board and resources of the wider group of businesses, will see Saltire continue to grow and strengthen its position as one of the UK’s largest and leading central heating and electrical service providers.”
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