The company, which is based in Scotland with operations in the Midlands, has been acquired for an undisclosed sum by Daikin Airconditioning UK Ltd – part of Daikin Europe.

Daikin’s acquisition of Saltire from United Capital Group Ltd follows its purchase of Robert Heath Heating in January 2024. Both acquisitions strengthen Daikin’s service infrastructure in the UK, supporting the country’s growing adoption of heat pumps. The installation of combustion boilers in new homes was banned in April 2024. As a result, Scotland presents a promising market for heat pump heating, with a forecasted demand of 70,000 units by 2028.

BDO Midland’s M&A business services team advised the shareholders of Saltire Facilities Management. The team was led by Satvir Bungar, managing director and head of business services M&A.

Mr Bungar said: “Saltire Facilities management has built up an excellent reputation in the heating services sector, marking its footprint both in Scotland and the Midlands.

“The sale to Daikin marks an important milestone in the company’s growth journey, providing Saltire with significant infrastructure and expertise to expand its heating service offering to customers. We look forward to following the company as it continues to flourish under the ownership of Daikin.”

He added: “It has been great to work with the shareholders and management team of Saltire on a significant deal for both parties in the social housing maintenance sector.

“It is the latest in a string of transactions for BDO in the wider facilities management space – a market where we have real strength and depth in helping high quality businesses to attract the attention of national and global strategic players and investors.”

Saltire Facilities Management Ltd specialises in heating services for houses and apartment buildings, offering maintenance contracts, installation of heating systems and 24/7 service support. Based in Glasgow, with a branch in Birmingham, Saltire employs approximately 300 staff, including over 200 field technicians.

Alan Murray, managing director of Saltire Facilities Management, said: “We are excited to join the Daikin group and use its expertise to further expand into the renewable energy sector and heat pumps.

“This acquisition will bring our customers enhanced technical support and access to a broader range of energy-efficient products. We aim to expand technician training programs to build a skilled workforce with expertise in the most recent technologies, including heat pump servicing.”