Graham acquired McGill's — a 440-person Scottish construction business — out of administration in 2019, proving that credibility, speed and clear thinking can unlock the biggest opportunities.

GUEST

Graham Carling — Entrepreneur and deal maker; acquired McGill's Group, a Scottish Top 500 construction company, out of administration in 2019.

EPISODE SUMMARY

Graham had identified McGill's 18 months before it went into administration and made an approach that went nowhere — until the day it collapsed. By extraordinary coincidence he was sitting in the same hotel when the administrators arrived. Over the following six weeks he negotiated a deal, was named preferred bidder and completed in mid-March 2019. He replaced the entire board, had a new leadership team ready before completion, and within 12 months had turned the business around.

KEY TAKEAWAYS

▸ Tracking a business you want to buy — even if nothing happens immediately — means you're positioned when circumstances change.

▸ Administration deals require you to be a credible buyer: the administrator has fiduciary duties and will not compromise their process for an unproven acquirer.

▸ When value is clear, decisions are easy — this principle cuts through the noise of other people's doubts and opinions.

▸ Replacing the leadership team that oversaw the failure is often an early, necessary decision; but it requires having new leadership ready before completion.

▸ The faster you move in an administration, the more value you preserve — every day of delay devalues the business further.

▸ Buying assets (not shares) allows you to leave liabilities behind and start fresh, even in a high-profile, complex situation.

DEAL HIGHLIGHT

McGill's went into administration on 1 February 2019. Graham was named preferred bidder by the end of February and completed on 13 March 2019 — a six-week window to conduct limited legal due diligence on a 440-person, £45m-turnover business.

"When value is clear, decisions are easy — that keeps me on the straight and narrow from the noise of other people's opinions."

Learn more: www.dealmakers.co.uk