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Thu January 23 2020

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Façades specialist FGS falls into administration

9 Jan Just 18 months after its private equity buyout from Saint-Gobain, Façade & Glazing Solutions has fallen into administration.

Chief executive Craig McGilvray
Chief executive Craig McGilvray

Anthony Barrell and Rajnesh Mittal of FRP Advisory were appointed joint administrators on Monday 6th January.

Previously part of Glassolutions Saint-Gobain, the Rotherham-based façade design and installation contractor relaunched as Façade & Glazing Solutions UK Ltd (FGS) following its sale to private investment firm CoBe Capital on 1st August 2018.

In its first year of trading FGS completed more than 100 projects and won £40m of new business.

As recently as July 2019, chief executive Craig McGilvray was saying what ‘great shape’ the company was in. “We are pleased with our financial progress and remain on target to break-even in 2020 and to achieve a turnover of £50m by December 2019,” he said. “The business has evolved over the past 12 months and thanks to a hardworking and dedicated team we are in great shape for the future.”

He added at the time: “Our focus is now on the future. We are developing our strategic plans out to 2025 focusing on growing our major and regional projects businesses and strengthening our repair and maintenance proposition. We remain focused on developing our processes and delivering projects in which we excel.”

Craig McGilvray was previously managing director of Balfour Beatty’s gas and water business. He was brought in by the new owners to run FGS in March 2019, working alongside Dirk Jaspers, CoBe Capital’s director of operations, who had been acting managing director of FGS since the acquisition.

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