RJ McLeod, one of Scotland’s largest privately owned civil engineering and building contractors with bases in Glasgow and Dingwall, has been bought by English player OCU Group.
The price paid was not disclosed.
RJ McLeod (Contractors), which employs about 450 people and has focused increasingly on renewable energy in recent years, made pre-tax profits of £18.6 million on turnover of £210m in the last financial year for which accounts are available, the 52 weeks to October 30, 2022.
Asked whether all RJ McLeod employees would transfer to OCU Group, which describes itself as a “leading UK energy transition and utilities infrastructure services company” and is based in Greater Manchester, a spokeswoman for the purchaser said: “There are around 450 individuals working on RJ McLeod projects on any given day across the UK - based out of Glasgow and Dingwall. Following completion of the acquisition, RJ McLeod will continue to operate under the same name and legal entity, with the same staff, same locations, and same work.”
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Graeme Clark, joint managing director of RJ McLeod, said: “RJ McLeod has been operating across mainland Scotland, the Western and Northern Isles for more than 70 years. Specialising in civil engineering, often related to complex projects, we have established a valued client base. We believe that joining OCU Group today has increased our ability to provide a more comprehensive service to existing and new clients.”
Fellow RJ McLeod joint managing director Bruce Clark said: “Since the business was founded by Roderick John Macleod in 1951, we have carried the ethos of enabling people to give their best and we are very proud of the team that has brought us to where the business is today. Looking forward, we see even greater opportunities to maintain and grow the impact of our people and delivery for our clients within the OCU Group family.”
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OCU Group, which was acquired by private equity outfit Triton Partners in August 2022, noted: “Over a number of years, RJ McLeod has increasingly focused on renewable energy, particularly with regards to onshore wind developments such as the Viking and South Kyle wind farms. This work is a vital part of the Scottish Government target to create 20GW (gigawatts) of onshore wind capacity by 2030.”
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It added: “Beyond wind farms, RJ McLeod also has specialist capabilities in battery storage and hydro-electric projects as well as in grid and substation construction. The business also has a strong market presence across the Scottish marine sector, having completed a number of transformative projects in recent years, as well as being a key provider for other civil engineering services such as roads, flood prevention and coastal protection.”
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