A consortium of private investors headed by Alistair Clugston has bought the distribution arm of the eponymous failed family construction giant.
The third generation businessman, who was not part of the collapsed entity, is at the wheel of AJWG Ltd, which swooped on Tuesday.
And the team has vowed to “rebuild the Clugston specialist transport services” arm with “a more appropriate Clugston brand” to appear soon, as global ambition is highlighted.
Clugston Distribution did not form part of the shock collapse that has seen the £175 million Scunthorpe-headquartered business fall, with 278 jobs lost and a further 82 transferred to third party contractors.
The firm employs 153 people, with futures now safeguarded.
Mr Clugston said: “I am delighted to have a significant involvement in leading this business back to where it should be. The Clugston name has a proud heritage in this area and hopefully we can restore some of its former glory by creating an excellent specialist transport business. Our focus will be to develop niche and specialist transport services on both a local and national scale. There may also be opportunities to promote our services to overseas markets where I have been heavily involved in more recently.
“The employees and the management team should take great credit for the way they have conducted themselves during a period which has been volatile at times. They have managed to steer this ship to its current position and I am excited to have this opportunity to take the business to the next level.
“Whilst there are clearly many challenges, particularly with an unsettled economy, I am confident that we have the right offering in the marketplace to bring success to the company.”
Most Read
The company carries bulk powder, steel and long products, distributed fuel and handles general haulage.
The facilities on Brigg Road offer commercial vehicle engineering and maintenance, and include a Renault Truck 海角视频 franchise with DVSA MoT and tachograph testing services.
Mr Clugston has significant experience in the transport and distribution market, primarily having traded tankers and logistics overseas. Prior to that he worked in the licensed trade, playing a key part in Cleethopes Pier’s huge renovation, having also been landlord at The King’s Head in Tealby.
While the company is currently a standalone entity, the consortium is seeking to add his Clugston International Trading Ltd business, and the site upon which both these entities trade to the group, as sister companies in coming months.
Latest Scunthorpe business news:
Bibby Financial Services has supported the acquisition and have provided multi-million pound working capital facilities to assist the company in achieving its short and medium-term business plans, the team said.
Mr Clugston said his initial focus “will be to ensure that all customers continue to be provided with a first-class service and to harness the ability and energy of the fantastic loyal employees that have remained with the company through this somewhat uncertain period”.
AJWG Ltd, established in April 2019, is currently registered in Glenfield, Leicestershire, with Demis Armen Ohandjanian as managing director. He has held interests in several businesses in the sector.