Industrial machinery dealer Finlay Scotland has been sold to Molson Group in a move that gives the buyer rights to distribute Terex Finlay plant machinery nationwide.
The move gives the Bristol company the "final piece of the jigsaw" in acquiring the distributor of specialist quarrying equipment.
Molson had already taken over the Finlay Plant (UK) part of the company serving England, Wales and Northern Ireland and which is now known as Molson Finlay.
Now it has completed the acquisition of the Bothwell-based firm which was advised in the deal worth a "sizeable" sum by legal deal-makers Macdonald Henderson in Glasgow.
In its most recent financial results at the end of April 2018, Finlay Scotland had total net assets worth just over £2.2 million.
Terex Finlay mobile crushing, screening and conveying equipment originated in 1953 with the Northern Irish engineer John Finlay. It has a factory in Omagh but is now American owned. Finlay Scotland became a private limited company in January 2001, co-owned by Morris Wightman and Tom McNeill, with the rights to distribute the earth moving machinery in Scotland.
The current Finlay Scotland sales, hire and service operation will remain unchanged and will continue to be managed by former co-owners Morris Wightman and Tom McNeill.
Managing director McNeill said: “Finlay Scotland Ltd is one of the longest serving dealers for Terex Finlay and can trace its roots back to the days when the business was originally owned by John Finlay.'
"Finlay Scotland Ltd has grown and flourished over the years thanks in no small part to the commitment and dedication of our team members who consistently provide an excellent service to our customers. We are very excited for the future direction and growth expectations for this operation and we look forward to ensuring a seamless transition of business for our staff and customers.”
Molson joint managing director Robin Powell said: “We are delighted to have acquired Finlay Scotland Ltd and look forward to welcoming their experienced and committed team into the Molson Group, alongside our Molson Finlay business.
"The success of Finlay Scotland Ltd has been built upon a customer-centric philosophy to provide innovative products, services and solutions to their local market. Their commitment and dedication to exceptional customer service directly correlates with our own culture and we are delighted that they have joined our team.''
"Additionally, this acquisition further strengthens our position throughout Scotland. Alongside the long-established Molson Young Plant Sales business, the addition of Finlay Scotland ensures that our comprehensive 360-degree product offer to customers is available to customers across England, Wales and now Scotland too.”
Wightman said: “This was a once-in-a-lifetime transaction for us and it was essential that our advisors could handle the sizeable transaction, negotiate terms on an equal footing with the buyer’s 'big firm' advisors and communicate their advice to us in a clear and concise manner so that we understood the technical aspects of the transaction.
"Our transaction required Macdonald Henderson to work long and hard over many disciplines, with a confident approach to negotiation and a keen commercial understanding of the relationship of the parties both pre and post completion. Macdonald Henderson worked well with our accountants Drummond Laurie to deliver the deal."
Macdonald Henderson managing director David Beveridge said: "This is a great success story of two working men who have built up their company.
"They have run the business well on the principles of good governance and with the assistance of a motivated workforce. We were very happy to help Morris and Tom sell the company to a highly regarded UK company."
