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Jobs saved at Dundee facilities management firm after buyer found
Jobs have been rescued at McGill Facilities Management Ltd after the fire and security division of the company was successfully sold by administrators at Leonard Curtis.
The Dundee firm on Harrison Road has been working in the commercial and public sector for more than 40 years - offering contractor, refurbishment and fit-out specialist services.
But the business - having previously been brought out of administration - fell under significant financial pressure due to a combination of factors caused by the COVID-19 pandemic, a number of loss-making contracts and material price inflation.
With Barry Stewart and George Lafferty of Leonard Curtis being appointed Joint Administrators of McGill Facilities Management Ltd on 25 August 2022, McGilles fire and security division has become the subject of a pre-pack administration.
Operating to a tight timescale, the Joint Administrators - with particular assistance from the Companyes director - marketed the business and assets to a wide and relevant audience; liaising with a number of interested parties.
A buyer was found in SPG Fire & Security Ltd - a Galashiels-based firm who intend to continue operations and service the divisiones customer base.
Leonard Curtis Barry Stewart commented: The Company had been struggling with regards to cashflow in particular for a period of time and despite accessing Government assistance via the Coronavirus Business Interruption Loan Scheme, insolvency was unavoidable and the business was marketed for sale.
We are pleased to say this process resulted in the going concern sale of the fire and security division which will assist in maximising realisations for creditors whilst protecting a number of jobs.
Errol Lawrie, McGill Facilities Management Ltd director commented: This has been a particularly difficult period for all the employees and customers and whilst it is disappointing that we were unable to save the whole business it does give me some comfort we were able to save this division and a number of local jobs.
Simon Gillie, Managing Director at SPG Fire & Security Ltd commented: The acquisition of this well-respected division further enhances our position in the fire and security market and I am delighted to now be working with the team and continuing to look after its customers and clients.
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Reach Commercial Finance Limited. Registered in England no 09056450. Leonard Curtis is a trading style of Reach Commercial Finance Limited. Leonard Curtis is a broker not a lender and is independent with access to the whole of market. We may receive commissions that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. Authorised and regulated by the Financial Conduct Authority FCA no. 753686. Registered with the Information Commissioner’s Office reference ZA069234
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.