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15/11/2024
Morris & Spottiswood Acquires Part Of Collapsed ISG Group
Morris & Spottiswood Group has acquired part of the collapsed ISG group, offering a vital lifeline to the employees and projects operating within its remit.
Absorbing the former ISG Cathedral business, Morris & Spottiswood Group, which is a specialist provider of fitout, refurbishment, M&E, facilities management, design and construction services – has significantly extended its presence within the UK, with the addition of offices in Whitstable, Bristol and Huntingdon.
Welcoming 111 new colleagues into the business, including the senior management team led by Kevin Dengate, the acquisition will establish Morris & Spottiswood England – a new division within the overall group, which will sit alongside existing businesses Morris & Spottiswood Scotland and Livingston M&E.
The move cements Morris & Spottiswood's reputation within the financial sector by adding a number of major financial institutions to its already established portfolio, as well as strengthening the company’s presence in the retail sector with the addition of two major retailers.
Expected to add up to £100 million in revenue across the next 15 months, the acquisition has accelerated Morris & Spottiswood Group’s growth plans and is projected to take the group’s turnover to £265 million – marking an annual growth of 74%.
Jon Dunwell, Chief Executive Officer of the Morris & Spottiswood Group, commented: "The demise of ISG was sad news for the construction sector, causing significant disruption to valued clients and affecting many of our industry peers. We are pleased that as an agile family-owned business we have been able to move quickly to bring some stability to the situation, offering continuity and assurances of longevity to our new colleagues and clients alike.
"We have a firm People First focus and have been energised by this development, which brings a new mix of people into the business – aligned by values and skills but also offering fresh perspectives and experience to our established talent pool. This is an exciting new phase in our growth plan, as we combine the best ideas and strengths from both businesses and move forwards together as one team.
"With our solid foundations already in place, we hope that this will give confidence to clients and the supply chain as a whole, as we embed the new division, while also expanding our services and geographical reach."
Absorbing the former ISG Cathedral business, Morris & Spottiswood Group, which is a specialist provider of fitout, refurbishment, M&E, facilities management, design and construction services – has significantly extended its presence within the UK, with the addition of offices in Whitstable, Bristol and Huntingdon.
Welcoming 111 new colleagues into the business, including the senior management team led by Kevin Dengate, the acquisition will establish Morris & Spottiswood England – a new division within the overall group, which will sit alongside existing businesses Morris & Spottiswood Scotland and Livingston M&E.
The move cements Morris & Spottiswood's reputation within the financial sector by adding a number of major financial institutions to its already established portfolio, as well as strengthening the company’s presence in the retail sector with the addition of two major retailers.
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Expected to add up to £100 million in revenue across the next 15 months, the acquisition has accelerated Morris & Spottiswood Group’s growth plans and is projected to take the group’s turnover to £265 million – marking an annual growth of 74%.
Jon Dunwell, Chief Executive Officer of the Morris & Spottiswood Group, commented: "The demise of ISG was sad news for the construction sector, causing significant disruption to valued clients and affecting many of our industry peers. We are pleased that as an agile family-owned business we have been able to move quickly to bring some stability to the situation, offering continuity and assurances of longevity to our new colleagues and clients alike.
"We have a firm People First focus and have been energised by this development, which brings a new mix of people into the business – aligned by values and skills but also offering fresh perspectives and experience to our established talent pool. This is an exciting new phase in our growth plan, as we combine the best ideas and strengths from both businesses and move forwards together as one team.
"With our solid foundations already in place, we hope that this will give confidence to clients and the supply chain as a whole, as we embed the new division, while also expanding our services and geographical reach."
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