Azure Investments acquires construction group Muirfield Contracts


scotland loch ness_lrgPrivate equity firm Azure Investments has bought Dundee-based construction company Muirfield Contracts, which serves Scotland’s oil and gas sector.

The firm said Muirfield has seen consistent year on year growth and reported profits of £2m on revenues of £42m for the 2012-13 fiscal year, adding that it planned to grow the company organically as well as via acquisitions.

Azure chairman John Stodart said, “Muirfield Contracts has a rock-solid reputation for quality work and professional service in both private and public sectors, and we saw that as a very good fit for Azure.

“We are geographically well-placed to serve the needs of clients on the east coast, and we’re confident the experience and people we have in the business will help us establish strong relationships in Aberdeen.

“The fact that Muirfield has been able to weather the significant storms faced by the construction industry, and not only survive but continue to be profitable, says a lot about the strength of the current management team and we’re very much looking forward to working with them.”

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