Purchase of Fife firm
Caltech unveils first acquisition for 40 years
Caltech Lifts has made its first acquisition since it was established 40 years ago in an undisclosed cash purchase of Scotlifts Scotland.
Scotlifts Scotland owner, Scott Murray, will join the management team at Caltech, founded in Dundee in 1978 by engineer Howard Renwick and now run by his sons Andrew and Fraser.
The acquisition of the Coupar Angus-based continues a growth trajectory for Caltech which began when Andrew Renwick took over as managing director in June 2013.
Mr Murray will become Caltech’s installations manager and his employee and company assets will also transfer to the new owner along with 50 contract clients across Dundee, Perthshire and the Highlands.
Speaking about the deal, Mr Renwick said: “We’re delighted to have successfully acquired Scotlifts Scotland Ltd and have Scott join us because he’s built it over 15 years into a highly-regarded company with a loyal service contract base in our key operational area.
“Scott is one of the most talented lift engineers in Scotland and has built an enviable reputation across the UK for the quality of his work. As a result it’s very hard to secure him as a sub-contractor because he has a huge waiting list of multinational lift companies wanting to use him to install their lifts across the UK.
“To have Scott on our installation and repairs team full-time will significantly strengthen our engineering capability as he will be heavily involved in both a hands-on role as well as supervising other engineers and training apprentices.
“Having Scott on our management team will also assist us with our growth aspirations.”
Mr Murray said: “I’m looking forward to helping Caltech continue its growth path.”