Carlisle-based construction and civil-engineering firm, Cubby Construction, has bought Scottish Borders contractor, Finlaysons, as the business continues to develop its existing operations in southern Scotland.
A family firm established in 1968, Cubby’s is a leading name in construction, civil engineering, joinery manufacture and sustainable housing, working throughout the UK and employing 130 people.
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, and this seemed like a perfect opportunity for Cubby Construction to acquire Finlaysons Contracts, as part of a planned expansion.
The acquisition secures the future of Finlaysons and has been very well received by clients and local suppliers. It is especially welcome during the current challenging times, and will allow Finlaysons to continue to trade and provide their services to all their valued customers for the foreseeable future.
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, advising on all financial aspects of the transaction, including due diligence and post-completion integration. Michael Walby and Becky Brook from the Corporate team at Burnetts Solicitors provided legal advice to Cubby on the acquisition.
Commenting on their new business venture, 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.”
Darcie Rae, Armstrong Watson Corporate Finance Manager, commented: “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.”
