Harper Macleod advises on VIMBI of Scotwood Interiors

Harper Macleod advises on VIMBI of Scotwood Interiors

Pictured (L-R): Jim Scott, Chris Nugent and John Taylor

Harper Macleod has advised on the vendor initiated management buy-in of Scotwood Interiors, an office fit-out and refurbishments business.

Established in 1964 by Allan Scott, Scotwood Interiors specialises in the design and delivery of turnkey fit-outs and refurbishments for a range of commercial settings. It is a principal contractor with an extensive list of blue-chip clients across Scotland. The company employs around 40 staff from its East Kilbride headquarters.

Instigated by the vendors, the transaction sees Doug Kerr and Jim Scott, son of founder Allan, step down as joint managing directors of Scotwood. Jim will support the new management team by continuing as a director and Doug will step back from the business and transition towards retirement.

Chris Nugent comes in as the new managing director and will lead the business going forward, with the support of Jim and, fellow director, John Taylor.

Paul Macdonald, a partner in Harper Macleod’s corporate, commercial and regulatory team, led on the legal advice around the structuring and implementation of the transaction, supported by Aiden Paterson (corporate trainee), Tony Cameron (banking partner), Kirsty Watson (banking senior solicitor), Scott Milligan (employment partner) and Deborah Rookes (employment senior solicitor). Donald Wilson of Barclay Gilmour Partners led on corporate finance advice for the transaction and Kevin Meaney of KXM Tax Advisory Limited advised on tax.

Mr Macdonald said: “Scotwood Interiors is an award-winning business providing bespoke and high-quality fit-outs for an enviable client roster. With a strong focus on delivering innovative designs, Scotwood has led the way as employers have invested in their spaces in recent years.

“The office, and what people want from their workplace, has changed significantly in recent years, particularly since the pandemic and the development of new ways of hybrid working. They are places of creativity and collaboration, and Scotwood are independently recognised for delivering high-quality environments which suit the modern way of working. Scotwood has completed several fantastic fit-outs and upgrades to Harper Macleod’s offices over the years.”

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