A significant transition is underway as Morris & Spottiswood acquires a portion of the defunct ISG group.
- The acquisition includes the ISG Cathedral shop-fitting business, bringing new offices and staff into Morris & Spottiswood’s fold.
- Incorporating 111 new employees, the acquisition aims to add substantial revenue growth to the company.
- The transition introduces a new division, Morris & Spottiswood England, enhancing regional operations.
- Morris & Spottiswood aims for a 74% turnover increase, pushing projected revenues to £265m.
Morris & Spottiswood has taken a strategic step by acquiring the former ISG Cathedral shop-fitting division. This acquisition, occurring after ISG’s collapse, allows the company to integrate new offices in Whitstable, Bristol, and Huntingdon, alongside welcoming 111 staff led by Kevin Dengate. Such a move is expected to significantly expand its operations and strengthen its workforce.
The acquisition is not merely about bringing new assets under Morris & Spottiswood’s umbrella. It establishes a new division, Morris & Spottiswood England, which will operate alongside its established arms in Scotland and Livingston M&E. This strategic expansion is projected to enhance the company’s annual turnover by a remarkable 74%, with a target to reach £265 million over the next fifteen months.
Chief Executive Jon Dunwell expressed positive sentiments regarding the acquisition, noting its potential to bring stability and continuity amidst ISG’s collapse. He remarked, “The demise of ISG was sad news for the construction sector, causing significant disruption to valued clients and affecting many of our industry peers.” However, he expressed confidence in Morris & Spottiswood’s agility and ‘People First’ approach to successfully integrate the new team and clientele.
Additionally, the acquisition of JB Engineering as a subsidiary of Livingston Building Services indicates Morris & Spottiswood’s proactive steps toward diversification and strengthening its service portfolio. This tactical move reflects a commitment to expanding service capabilities, particularly in the specialised field of offsite fabrication services.
ISG’s acquisition of Kent-based Cathedral Contracts in 2007 marked substantial growth in their retail fit-out operations. However, their administration in September 2024 led to significant disruptions, which Morris & Spottiswood now aims to mitigate by embedding the acquired operations and expanding their geographical reach.
The acquisition of ISG assets by Morris & Spottiswood marks a pivotal moment in their growth, promising to enhance operations and financial performance.
