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Acquisition of £30m service provider confirmed

18 May 2020

United Capital has confirmed the acquisition of Glasgow-based Saltire Facilities Management for an undisclosed sum.

Founded in 2000 as an in-house service division in a public/private partnership with North Lanarkshire, it was subsequently bought by its majority shareholder.

Last Friday's announcement confirming the United Capital deal described Saltire as having an annual turnover of approximately £30m with more than 320 direct employees.

The business specialises in the provision of central heating and electrical services, with offices throughout Scotland and South West England.

United Capital chief executive officer Graeme Carling described Saltire as an "exciting addition" and "exactly the type of business that we are looking to acquire".

Further to the profitable nature of the company, delivering FM services to large, public sector contracts, Mr Carling described the most important attribute as having "a solid and vastly experienced management team".

He further stated that all Saltire staff and management will remain in place, with the only additions coming from the United Capital board of directors, who "will be on hand to support and grow the company moving forwards".

This is the third major United Capital acquisition over the last two years, after it acquired Scotland Top 500 company McGill and Angus-based electrical services firm Alliance Electrical last year.

The company's buy-and-build strategy was announced last December, which outlined the continuing acquisition of UK service providers with a collective turnover of £300m over the next three years.

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