The owner of Dundee building services company McGill has opened offices in London and the United Arab Emirates.
United Capital is currently two years into a five year buy-and-build plan, acquiring building services firms to grow group turnover to £500 million by 2024.
The group, run by chief executive Graeme Carling, expects to acquire at least £100 million by the end of the year.
‘It makes perfect sense’
Mr Carling said: “We are already one of the fastest growing businesses in our sector having grown from zero to a £50 million turnover group within 14 months.
“Whilst we are acquiring quality businesses across the whole of the UK, most big business still flows through London.
“Many of the teams on the other side of the negotiating table are based there, so it makes perfect sense.
“Our group owns businesses in Scotland hence our decision to keep an office in Edinburgh.
“Due to improved mobility as Covid restrictions have relaxed, our team will spend considerable time on the road meeting with identified acquisition targets.”
Mr Carling last year said the investment group’s aim was to have a group of companies producing revenues of half a billion pounds a year.
‘Middle east hub’
He plans to split his time between London and the UAE.
The chief executive added: “Our UAE office will be used as a Middle East hub for proximity to investors.
“I am firmly of the opinion that environment is stronger than will, and will play a significant role in our ability to scale and continue to grow at the exponential rate that we have achieved to date.
“Both London and UAE are environments conducive with high growth and success.”
The company is targeting building services and facilities management firms operating in the UK with a turnover of £10m-£70m.
United Capital acquired McGill in March 2019 after the building firm went into administration.
It then made a lockdown acquisition of one of Scotland’s largest central heating firms, Glasgow-based Saltire Facilities Management, last May.
Mr Carling revealed last month he lost both parents to Covid-19.