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Contracts secured for rescued FM service provider

12 April 2019

Having been purchased from administration, Dundee-based service provider McGill has announced the signing of contracts to continue its reinstatement.

Its first new deal was signed with Fife Council and this will see the company start work later this month, according to the The Courier, with positive conversations ongoing with other potential clients.

The company was purchased last month by local entrepreneur Graeme Carling, which saw him invest approximately £1m in the acquisition of the company's Dundee headquarters and equipment, with the sum also including working capital.

It had made more than 400 people redundant and new owner Mr Carling described the purchase as a "calculated risk".

"We've got the building and we're going to rent out some space," he continued. "We've got equipment we could sell if we need to."

Mr Carling said McGill previously had "a good underlying business and I have no doubt that in 12 months' time, the company will be absolutely buzzing again".

He further stated that the focus of the business in future would as an FM service provider, delivering repairs and maintenance.

Refurbishment work would also be taken on, which is expected to be mainly for local authorities and housing associations.

House building is also under consideration, after Mr Carling submitted a bid for the McGill Homes (Scotland) division within a separate administration process, which would continue to be considered regardless of whether the bid was successful or not.

Although his "one regret" was not buying the company's former Edinburgh office, Mr Carling stated that he is aiming to see the company achieve a £20m turnover in the future.

He explained that due diligence analysis prior to the purchase had identified this as a "sweet spot" when it had reached this level previously.

Mr Carling said that reaching the £20m turnover level had seen the company at its strongest in terms of its balance sheet, cash position and profit, providing employment for up to 200 people.

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