Wallace Whittle has grown organically since its management buyout in 2021 from £8m turnover to £14m but has now decided to make the move into acquisitions.
“This acquisition is the next step in our growth strategy,” said Wallace Whittle managing director Allan McGill. “Davie & McCulloch’s established presence in the higher education, secure accommodation and defence sectors complements our own expertise and will allow us to offer our industry-leading service to a broader client base.
“While we’ve had great success through organic growth since the management buyout in 2021, this acquisition speeds up our growth plans by adding quality, experienced staff and a solid client network, helping us further strengthen our reputation in the market. We’re keen to expand our UK presence and are prepared to consider additional acquisitions or partnerships.”
The deal is funded through the company’s own funds and all staff from Davie & McCulloch are being retained. The Davie & McCulloch name will remain in the short- to medium-term to ease the transition.
With this acquisition, Wallace Whittle expects turnover to pass £15m in 2025 from 160 staff across eight UK offices. Further growth is planned in 2025 with the addition of two new regional offices.
Davie & McCulloch is one of Scotland’s elder mechanical & electrical engineering consultancy, having been set up in 1957.
McGill added: “The opportunity to acquire such a long established and recognised company as Davie & McCulloch was a simple decision for the board; not only for the team’s sector expertise but also for its performance, profitability, and quality-driven approach, which aligns perfectly with Wallace Whittle’s own values.
