Administrator finds buyer
Catalus in talks to save jobs at failed contractor McGill
Catalus Energy Investments has been chosen as the preferred bidder and has been granted a short period of exclusivity to acquire the business and certain assets of the Dundee-based firm.
Joint administrators KPMG said: “Agreement of the sale is subject to due diligence and contractual agreement. However, both parties are hopeful that a transaction can be concluded. Further information will be available in due course.”
Blair Nimmo and Geoff Jacobs were appointed joint administrators on 1 February. They immediately made 374 of the company’s 429 employees redundant. The 55 remaining employees were retained to assist with selling the company’s assets.
McGill & Co was established in 1981 as a specialist building contractor. The company provides services to clients in the residential, commercial and industrial sectors from its headquarters in Dundee and ancillary offices in Glasgow and Edinburgh.
The company trades through five divisions; mechanical & electrical services, facilities management; social housing; private residential; fibre and wireless.