Bell Group ready for further growth following MBO
Bell Group works on a range of projects
Bell Group, the Scottish commercial decorating contractor, has completed a management buy-out and will embark on acquisitions to grow what is already the biggest UK firm in its sector.
It will also continue to diversify its services, and improve business operations as part of an organic growth strategy over the next five years.
Craig Bell, CEO and major shareholder, said: “We have seen a real step change in the work we’ve completed over the last six months and we’re very excited about the future.
“The pandemic understandably slowed our growth over the last year, but our forecasts for this year are very strong. As new owners we’re excited to continue to build on the legacy of our predecessors over the past 37 years.”
Scott Wilson of HSBC corporate banking in Scotland which provided a seven-figure loan, added: “Bell Group is a great Scottish business success story, having built up impressive growth over many years.
The management buy-out marks an exciting and pivotal moment for the company, and we have been delighted to support this process and help set the Group up for the years to come.”
Bell Group operates from 31 locations across the UK and employs more than 1,600 workers.
The company forecasts turnover of £150 million for 2021, building on its average year on year growth of 15%. Its customers include NHS Trusts, the Ministry of Defence, housing associations and local authorities across the UK. It also works in many historic buildings and palaces.