Buyer found for collapsed Dundee building firm McGill

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Image caption,
The company had been in operation since 1981

A building services contractor which collapsed with the loss of 374 jobs has been bought over.

Dundee-based McGill went bust last month due to "challenging trading conditions" and administrators were appointed to find a new buyer.

Catalus Energy Investments has now taken over the 38-year-old firm and its Dundee offices.

An assessment of the order book is now being made to see if any of the axed staff can be re-hired.

The 55 McGill employees retained by administrators to help with the sale have now also been made redundant.

Catalus Energy Investments, which is based in Dundee, is described as "a group of professionals specialising in the consolidation of industries, mergers and acquisitions, finance and growth".

'Best outcome'

Property developer Graeme Carling, a director of Catalus, said his firm "plan to build a quality and skilled workforce to deliver on profitable contracts".

He added: "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.

"Our team has examined all information available to us and we now enter a period of engagement with previous customers and contracts."

Blair Nimmo, who is joint administrator for McGill and is 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."