Maginnis will give Connaught access to £4bn programme of social housing refurbishment work in Scotland.
Property support services group Connaught announced today that it had acquired Scottish maintenance services business Maginnis for £2.5m.
Maginnis is the holding company of JCM, a maintenance services business of 162 employees which works mainly with local authorities in Scotland.
The acquisition will allow Connaught to bid for local authority refurbishment contracts North of the border where the programme to upgrade Scottish social housing stock to Scottish Housing Quality Standards by 2015 is thought to be worth around £4bn.
Connaught chief executive Mark Tincknell said that the acquisition of Maginnis would give Connaught a strong foothold in Scotland.
Tincknell said “It will allow us to compete for contracts arising from local authorities’ commitment to delivering Scottish Housing Quality Standard. Scotland is an area where substantial growth in this type of work is expected.”
Connaught has also won a £100m contract to refurbish 8,000 homes in Hackney, East London.
The Hackney refurbishment contract will last six years and is part of the £236m second phase of modernisation and refurbishment in Hackney, which will be carried out by Connaught and four other firms.
The group has already worked on phase one of the refurbishment in a project that lasted 18 months and focussed on external repairs.
Connaught will work on homes in the North East of the Borough and will start in December 2004.