United Auctions (UA) has purchased the Stirling Agricultural Centre (SAC) for an undisclosed sum today (Tuesday March 22, 2011).
Scotland’s leading livestock auctioneers and procurement specialists have completed the deal for their company headquarters with administrators KPMG on behalf of the Centre’s original owners, Glasgow-based Elphinstone.
The funding for the acquisition was part-assisted by the Bank of Scotland.
The £15million Stirling Agricultural Centre opened its doors in July 2009 and is the single centre of operations for the company’s Perth and Stirling sales, including the world-famous Perth Bull Sales®.
UA’s Executive Team, comprising Executive Chairman David Leggat MBE and Group Joint Managing Directors Neil McLean and Robin Tough, will now manage the entire business operations for the business premises and its 52 acres.
Mr Leggat MBE, Executive Chairman of UA, said: “We’re pleased to announce this deal, which is a significant investment that further enhances the company’s position and long-term sustainability.
Neil McLean, Group Joint MD of UA, said: “We value the support from the team at Bank of Scotland who have been instrumental in the delivery of this deal. We’re now able to control the development of the livestock Centre in the way we intended from the outset and we expect to make further announcements in the near future.”
Sandy Hay, Agriculture Director at Bank of Scotland, said: “The focus and commitment of the directors at UA since their management buy-out has resulted in a strong business committed to a future in livestock sales. The purchase of the Stirling Agricultural Centre is a positive move which will enable UA to galvanise the development of the business in the future.”
-ENDS-
NOTES TO EDITOR
- Legal and financial advice for UA was handled by Burness LLP and CKD Galbraith
- UA purchased Huntly and Lairg auction marts and their area office and lairage facility at Oban last year as well as Dalmally Auction Mart in 2008
United Auctions – www.uagroup.co.uk
- United Auctions (UA) are Scotland’s leading livestock auctioneers and procurement specialists. We operate a network of different auction markets across Scotland, including Stirling, Huntly, Lairg, Dalmally, Tiree, Islay, South Uist and an area office and lairage facility at Oban
- The company conducts auctions of both commercial and pedigree sheep and cattle, and provides farm-to-farm and farm-to-abattoir procurement services
- Group turnover is in excess of £100 million and in 2008 we celebrated our 150th year in operation
- The Stirling Agricultural Centre is located in the heart of Scotland, just off J10 on the M9 motorway. Located on a 52-acre site on the outskirts of the City, the mart supports around 300 on- and off-site jobs and comprises 400 pens, three sales rings, 18 paddocks, an exhibition hall, viewing gallery, conference facilities, and a 100-seater farmers’ restaurant
- The Centre is also home to a range of agri-related businesses and is the new headquarters for the Highland Cattle Society
