Collapsed McGill is sold to local property firm

Blair Nimmo, joint administrator and head of restructuring at administrators KPMG. Picture: Contributed
Blair Nimmo, joint administrator and head of restructuring at administrators KPMG. Picture: Contributed
Share this article
0
Have your say

McGill & Co, the Dundee-based contracting group that fell into administration last month, has been bought by a property group in the city.

Catalus Energy Investments, owned by Dundee-based businessman Graeme Carling, has acquired the business and certain assets of McGill in a deal with administrators from KPMG.

Carling, whose business owns more than 300 properties in the area, said: “Over the past month we have worked tirelessly to reach an agreement which allows us to move forward with our plans to re-establish McGill & Co.”

He said “financial prudence will be the top priority” as his team looks to rebuild relationships with previous customers.

Under the deal Catalus has acquired the business, order book and the majority of the McGill’s construction equipment and has also entered into an agreement to acquire the company’s head office in Dundee.

Blair Nimmo, joint administrator and head of restructuring for KPMG, said: “We are very pleased to have concluded the sale of these assets to Catalus Energy Investments, which will provide the best outcome for the company’s creditors and may also generate the opportunity for future employment. We wish Catalus Energy every success for the future.”