Mactaggart & Mickel FD to chair investment division

Housebuilder and property developer Mactaggart & Mickel has promoted group financial director Paul McAninch to the new role of chair of the company’s flourishing investments arm.

Paul McAninch will also retain his group FD role. Picture: Contributed

The investment fund has some £80 million of assets and to date has provided growth capital for more than 50 businesses looking to scale up. It welcomes applications from a wide spectrum of businesses from outside the construction sector.

McAninch is a non-executive director of Glasgow-based tech firm iOPT, which raised £600,000 growth capital earlier this year, in a deal where Mactaggart & Mickel is lead investor. He also sits on the advisory committee of the YFM Equity Partners 2016 Fund, to which Mactaggart & Mickel has also invested.

McAninch said: “This appointment will enable me to bring my financial and investment experience to bear on the non-housebuilding areas of the company, ensuring that we grow the profile of this business and ensure our business strategies support the group’s future growth plans.”

Ed Monaghan, group chief executive of Mactaggart & Mickel, added: “Paul’s expertise has been instrumental to the success of our ongoing diversification programme, and the time is right for him to take a lead role as we continue to expand our business operations across the UK and internationally.”

McAninch will retain his group FD role. He joined Mactaggart & Mickel in 2003 and has held a number of financial and management positions during his career.