MBO at £80m turnover McTaggart Construction

Aaron Morby 1 month ago
Share

Scotland’s McTaggart Construction has been sold to a managment buy-out team.

The £80m turnover business has over 1,500 new homes currently on site, and a pipeline of projects across the central belt with some of Scotland’s largest housing associations and social landlords. 

The existing leadership team will drive forward the growth of the business in the affordable housing construction sector.

The deal will see majority shareholder of the business Ross McTaggart, who retired in 2017 and current managing director, Gary Climson, sell their stakes in the firm to the management team.

Although Climson will remain in his post as managing director until his planned retirement in 3-5 years time.

Climson said: “The business has grown substantially in the last four years, and the management team have been at the heart of that growth, therefore this is a logical progression for us all.” 

Fellow Director, Janice Russell said: “Building a resilient and sustainable business with a clear long-term strategy has always been the board’s focus, and the management team will continue to hold these values at our core.”

McTaggart have recently been awarded contracts in excess of £30m including a second phase of new homes at Tarryholme in Irvine for Irvine Housing Association, 72 new homes in Kilwinning for Cunninghame Housing Association plus new clients such as Renfrewshire Council and North Lanarkshire Council.

Management Team


Ross McTaggart’s daughter Rosslyn Anderson and finance director Ally Anderson remain shareholders and will continue with their current roles.

Janice Russell, director

Paul Roan, commercial director

Robert Simpson, construction director

Lynne Wilson, group finance director

John Allan, operations director

AJ McFarlane, pre-construction commercial director

Latest news

Bauer/Keller JV to start £95m HS2 foundations job

Over 200 ground engineering experts will work on Chilterns to Warwickshire stretch
2 hours ago

All phases of £161m north London housing scheme approved

Countryside gains planning for full Peel Place in Kilburn
3 hours ago

Kane nets £29m MEP package on Balfour resi blocks

Specialist to focus on offsite construction across four south London towers from 11 to 30 storeys
2 hours ago

Formula 1 flywheel tech powers up Kier tower crane

Innovative energy storage technology delivers 40% fuel saving at Shakespeare North site
21 hours ago

Willmott Dixon bags £23m futuristic car park in Gateshead

10-storey steel-framed car park will be fitted with photovoltaic panels
19 hours ago

Construction rebound resumes as output jumps 1.6%

Optimism grows as commercial new work jumps 4%
24 hours ago

Laing O’Rourke targets staff gender balance by 2033

New mission statement also commits to operational net zero by the end of the decade
1 day ago

Ex-Wates Resi MD launches housing contractor Real

Paul Nicholls launches builder after buying Rydon Construction's businesses in the south
2 days ago

Billington warns of further steel price volatility ahead

Profits plunge by over 70% to £1.6m after Covid impacts sales and steel prices soar
1 day ago

Green light for £46m Shoreditch hotel and office scheme

Construction to start next year on former street food site
1 day ago

B&K set for £200m Nottingham Broadmarsh offices scheme

400,000 sq ft New Albion Place scheme planned next to old Broadmarsh shopping centre
1 day ago

Readie lands £28m deal for Moog Controls centre

Contractor confirmed by developer Barberry at Tewkesbury site
1 day ago

BAM names new construction chief for Scotland

Jim Ward replaces Bruce Dickson who is promoted to Royal BAM
2 days ago

Costain head of digital construction leaving

Contractor and chief digital officer Nathan Marsh part company
2 days ago

Bristol Uni puts back £300m Temple Quarter start to 2022

Delay supports design rethink to create more flexible space post-Covid
2 days ago

Engie gets green light for Rugeley Power Station revamp

Remediation work to start on site next month before cooling towers come down
2 days ago

FM Conway nabs infrastructure for Kent innovation park

Deal paves way for 1.1m sq ft Innovation Park Medway
2 days ago

Planning for 1,000 homes at north west London hospital site

Network Homes gains outline planning for full Northwick Park Hospital site regeneration scheme
2 days ago

Eric Wright to start £21m Burnley retail scheme

Work to start this summer on Pioneer Place shops and leisure development
2 days ago

Contractor jailed for filling old quarry with hazardous waste

M E Foley (Contractors) boss jailed for over two years
5 days ago

Bids invited for £540m JV North contractors framework

Race start for places on northern housing association consortium new-build framework
5 days ago

Contractor moves to four-day-week to boost work/life balance

Building and renovation specialist Orocco to give all site and office staff Fridays off
5 days ago

Scaffolding collapses on top floor of apartment site

Roads sealed off around resi job after scaffolding damaged during high winds
5 days ago

£250m South East Consortium housing framework winners

Vistry and Wates gain places on major projects lot for first time
5 days ago

Construction buyers report strong “spring surge” in output

Industry output expands at sharpest pace since September 2014
6 days ago

Three consortia shortlisted for Britain’s longest road tunnel

Murphy joins international line-up of firms shortlisted for £2.3bn Lower Thames Crossing
1 week ago

Arup staff have bank details hacked by cyber criminals

Ransomware attack sees staff data compromised at consultant
6 days ago

Skanska to switch all site equipment to vegetable oil power

Contractor wants to go all electric or hydrogen powered when technology allows
6 days ago

Lead time warnings on cement and aggies deliveries

Heavyside products and plastic drainage products join supply bottleneck list
7 days ago

Taylor Woodrow secures £328m Somerset A358 upgrade

Vital 9-mile section of A358 will be dualled to the M5
6 days ago

Contractor services