A family firm established in 1968, Cubby employs around 130 staff delivering construction, civil engineering, joinery manufacture and sustainable housing.
For the last few year Cubby has being holding revenue around the £17m level but now hopes the deal will help to develop its existing operations in southern Scotland.
The deal secures the future of Finlaysons, which was established over 60 years ago, and was originally part of Border Construction until 2014 when it was acquired by Esh Group.
The building maintenance, joinery, painting and roofing business then became its own legal entity, Finlaysons Contracts, in 2016 after an Esh Group re-organisation.
Latest accounts show Finlaysons employed over 30 staff and made a near £100,000 loss in 2018.
Esh Group has restructured again to focus purely on the North East of England and the Yorkshire and Humber regions.
Tommy Cubby said: “While it is our intention to run the two business completely independently, it is felt that the skills and capabilities of both companies will be able to offer our clients a wider selection of services, over a greater range of project value and complexity.”
Chris McCourt and Darcie Rae from Armstrong Watson’s Corporate Finance team acted as lead advisers for the purchase, supporting Cubby Construction throughout the acquisition.