Global HVAC giant acquires Scottish services firm in major inward investment deal
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A leading Scottish facilities management firm has been acquired by the world’s largest manufacturer of HVAC solutions, in a move hailed as a major inward investment boost for the Scottish economy.
Saltire Facilities Management Ltd, headquartered in North Lanarkshire, has been sold by United Capital Group to Japanese-based Daikin Industries Ltd, a global leader in heating, ventilation, air conditioning and air filtration technology.
The deal marks the conclusion of United Capital’s five-year ownership of Saltire, during which time the company has secured more than £220 million in public sector contracts and delivered its strongest financial performance in a 25-year history.
Graeme Carling, co-founder of United Capital Group, said: “We’re incredibly proud to conclude our five-year ownership of Saltire with this transformational deal. The business was already a trusted name in housing and property services, but through targeted investment and strategic support, we helped unlock its potential, leading to the most successful period in its history.
“Securing over £220 million in new public sector contracts and achieving record growth has not only safeguarded hundreds of jobs, it also made Saltire an attractive proposition for the world’s biggest name in HVAC. Crucially, this deal brings direct inward investment into the Scottish economy, ensuring Saltire’s long-term future and unlocking new opportunities for the region.”
Saltire Facilities Management employs around 300 people and supports a broad subcontractor network. It operates across Scotland and the Midlands and specialises in renewables, gas services and electrical works, serving local authorities, social housing providers and thousands of customers.
The buyer, Osaka-headquartered Daikin Industries Ltd, employs more than 100,000 people worldwide and is the only manufacturer to design and produce heating, ventilation, air conditioning and refrigeration equipment entirely in-house. The company operates in Europe through Daikin Europe NV, which includes Daikin UK — the division under which Saltire will now operate.
Tomoji Miki, managing director at Daikin UK, said: “This acquisition is a significant step towards achieving our strategic goals of creating a national service structure. By combining the strengths of Daikin, Robert Heath Heating and Saltire Facilities Management, we are well-positioned to lead the heat pump market in the UK and provide exceptional service to our customers.”
Alan Murray, managing director of Saltire Facilities Management, added: “We are excited to join the Daikin group and use its expertise to further expand into the renewable energy sector and heat pumps. This acquisition will bring our customers enhanced technical support and access to a broader range of energy-efficient products. We aim to expand technician training programmes to build a skilled workforce with expertise in the most recent technologies, including heat pump servicing.”
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