A north-east businessman has sold his electrical and data communications company, M&M Services, to engineering firm Nucore Group for an undisclosed sum.
The deal sees Niall Anderson, who founded M&M in the 1970s, step back from the Aberdeen-based business in anticipation of retirement.
Nucore has headquarters in Aberdeen and other premises in Dundee and Qatar.
M&M operations director Gordon Sutherland is heading up the acquired business under its new owner.
All eight employees at M&M Services are joining Nucore, taking total headcount across the group to 143.
Mr Anderson said: “As a long-established, local business, it was important for us to find the best way forward for our staff and customers.
“As part of Nucore, our service delivery will continue unaffected and our people will have secure, exciting opportunities within a group that is growing both its global and sectoral markets.
‘Seamless transfer’
“There will be a seamless transfer of M&M to Nucore and I’m pleased that Gordon Sutherland, our operations director, will continue to lead the M&M team, remaining the main point of contact for our clients.”
Nucore chief executive Mike Bryant said: “This merger builds on the progress we’ve already made in integrating the products, services and synergies of the group’s other businesses to deliver innovative engineering solutions that give us a competitive edge.
“As we diversify into new geographic markets and new sectors, we’re continually investing in our people, products and services to capitalise on the opportunities our integrated approach brings to the energy transition, but also to other safety critical sectors.”
Nucore is a global exporter of products and services, operating across the renewables, marine, oil & gas, petrochemical, and public and private sectors, among others.
It specialises in the design, manufacture, supply, installation, maintenance and commissioning of safety critical systems.
Group businesses include Oteac, HVAC & Refrigeration and now M&M Services, all trading under the Nucore brand.
They work onshore and offshore from oil and gas platforms and wind farms to distilleries, hospitals and schools.
Last year, the group unveiled plans for investment in its workforce and rental fleet, as well as its new office in Dundee Technology Park, following a refinancing.
Beechbrook Capital, a specialist fund manager focused on investments in small and medium-sized businesses across northern Europe, joined private equity firm Lonsdale Capital and senior management as shareholders in Nucore.
Financial details and the size of the respective shareholdings were undisclosed.
But is believed London-based Beechbrook ploughed a seven-figure sum into Nucore.
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