United Capital has acquired Saltire Facilities Management, a company with more than 320 employees and annual turnover of about £30 million.
Saltire Facilities Management, based in Glasgow, 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.
Saltire is now one of the UK’s largest central heating and electrical service providers, with offices across Scotland and South West of England.
Graeme Carling, CEO of United Capital, said: “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.
John Reynolds, general manager at Saltire Facilities Management, added: “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.”
United Capital began its ‘buy-and-build’ strategy in December 2019. The company plans to acquire UK building services and FM companies with a collective turnover of £300 million over the next three years.
United Capital bought former Scotland Top 500 company McGill and Angus-based electrical services firm Alliance Electrical in 2019.