Airdrie compressed air distributor targets £2m turnover after funds boost
An Airdrie-based compressed air distributor is gearing up for expansion after a funding deal allowed it to seal a management buy in.
Design Air Scotland (DAS), which specialises in the distribution, installation and servicing of compressed air equipment, has been operating in the industry for 15 years.
The firm has received a six-figure equity package from UKSE, a Tata Steel subsidiary, which will allow it to initially expand its workforce by 50 per cent.
The funding has allowed the senior management team to carry out a management buy in, providing them with a majority share of the business. An expansion drive has the goal of doubling turnover within the next five years.
DAS, which currently turns over about £1 million, has a strong trading relationship with Atlas Copco, a Swedish company that manufactures industrial equipment.
Barry Irvine, operations director at Design Air Scotland, said: “We are very excited to be embarking on our expansion plans in 2020. This deal is a fantastic investment opportunity for our senior management team and also allows us to support a young and enthusiastic team who want to pursue their careers in this industry.
“The financial support from UKSE has made this deal possible, and I’m extremely grateful to them for helping facilitate the growth of our business.”
UKSE was established in 1975 and focuses on supporting businesses and communities that have been affected by changes in the steel industry.
Terry Quinn, regional executive at UKSE added: “The compressed air market is experiencing fantastic growth at the moment and we are very pleased to have helped Design Air Scotland with their expansion.”
A message from the Editor:
Thank you for reading this article. We’re more reliant on your support than ever as the shift in consumer habits brought about by coronavirus impacts our advertisers. If you haven’t already, please consider supporting our trusted, fact-checked journalism by taking out a digital subscription: www.u2swisshome.com/subscriptions
Want to join the conversation? Please or to comment on this article.