Graham Nicol & Dow Limited has been a trusted name in the fresh produce supply chain since the 1960s; and is now entering a new chapter following the retirement of owner, Douglas Scott. The business has now been acquired by long-serving director, David McLellan, and head of sales, Paul Barnes, with the support of a flexible invoice finance facility and Growth Guarantee Scheme (GGS) loan from Skipton Business Finance.

Mr McLellan, who has served as a director for over 15 years, and Mr Barnes, the business’s head of sales for over two decades, identified the opportunity to build on the company’s strong legacy and pursue ambitious plans for growth, while continuing to deliver the dependable service that existing customers have come to rely on.

Mr McLellan said: “Paul and I are proud to take the reins of a business that means so much to us and to the customers we have worked with for so many years.

“The support from Skipton Business Finance was critical in making the buyout possible – not just the funding but taking the time to understand our plans and business and buying into our vision.

“We’re really looking forward to building on the strong foundations laid by Douglas and grow into new areas backed by a lender that also understands the challenges and opportunities in our industry.”

Skipton Business Finance provides invoice factoring and invoice discounting solutions to businesses with ambitious growth plans.

Matthew Garside, regional sales director for Scotland at Skipton Business Finance, said: “This is a fantastic example of what tailored funding can achieve for regional businesses with strong roots and exciting growth plans.

“Graham Nicol & Dow has built a trusted reputation across Glasgow, and we’re proud to have played such a pivotal role in supporting David and Paul as they take the business forward.

“At Skipton, we aim to provide funding that enables continuity, safeguards employment (particularly local), and opens doors to innovation and exciting growth plans – no matter the sector. We’re looking forward to seeing Graham Nicol & Dow Limited succeed in its new chapter of ownership.”

This deal between Skipton and Graham Nicol & Dow Limited was brokered by Kevin Gaughan from Glasgow-based DMK Finance.