Cubby continues to develop Scottish operations with acquisition from Esh Group
Carlisle-based construction and civil-engineering firm Cubby Construction has bought Scottish Borders contractor Finlaysons from Esh Group.
A family firm established in 1968, Cubby employs 130 people delivering construction, civil engineering, joinery manufacture and sustainable housing throughout the UK. The firm now hopes the deal will help to develop its existing operations in southern Scotland.
Established for over 60 years, Finlaysons 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.
Esh Group has undergone a comprehensive re-organisation to align its operational footprint and focus purely on the North East of England and the Yorkshire and Humber regions, which gave Cubby the opportunity to acquire Finlaysons Contracts as part of a planned expansion.
The acquisition secures the future of Finlaysons and will allow the firm to continue to trade and provide its services for the foreseeable future.
Tommy Cubby said: “Cubby Construction are very pleased with the opportunities that have been presented in the acquisition of Finlaysons and 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.
“The acquisition has required a very collaborative approach and Cubby Construction would like to thank all the parties involved for the proactive & pragmatic approach that has been taken throughout, without compromising the attention to detail in order that this will work for all parties going forward.”
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. Michael Walby and Becky Brook from the corporate team at Burnetts Solicitors provided legal advice to Cubby.
Darcie Rae, Armstrong Watson corporate finance manager, said: “We are delighted for the Cubby team, as well as the team at Finlaysons. The acquisition will not only assist Cubby with their continued and ambitious growth plans in the region, but it will secure a long and prosperous future for the two businesses, which is a real positive news story amidst the current economic backdrop.”
Michael Walby, Burnetts corporate partner, added: “It was a pleasure to have advised longstanding client Cubby on this transaction. It was a real team effort from all involved. The Finlaysons business provides a solid platform for Cubby’s further expansion into Scotland, and I am confident that Tommy and the team will make it a real success.”