Administrator KPMG has appointed Catalus Energy Investments as the preferred bidder and granted a short period of exclusivity for it to acquire the business and certain assets of McGill & Co
Blair Nimmo, global head of restructuring and joint administrator at 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 in early course.”
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. It trades through five divisions; mechanical & electrical services, facilities management; social housing; private residential; and fibre & wireless.
McGill’s collapse also led to another Dundee-based contractor going out of business (link opens in new tab).