Havelock Europa buyout deal ‘fantastic’ for 320 employees

The buyout from administration of Fife firm Havelock Europa has been hailed.

All 320 staff of the Kirkcaldybased furniture group have transferred to the new owner, venture capital firm Rcapital.

Fife Council co-leader David Ross (Labour) said: “I am pleased that the skilled jobs here in Fife will be secured for the future and further opportunities for the business will be developed.”

SNP co-leader David Alexander said: “The council has worked closely with the company and our partners including Scottish Enterprise to secure the future of the company and workforce.

“We will continue to work with Havelock International Ltd and stakeholders as the new company is established to support the growth of the Mid-Fife economy.”

Kirkcaldy SNP MSP David Torrance said: “Following an extremely difficult time for the company the announcement that a deal has been reached which will see over 300 jobs secured is fantastic news for Havelock employees.

“As a major employer in the constituency and a significant contributor to the local economy, the secure and longterm future of Havelock is vital.”

Lesley Laird, Labour MP for Kirkcaldy and Cowdenbeath, said: “The company’s financial situation was worrying but, given the quality of products which Havelock manufacture, I always held out hope for an alternative route forward for the firm and its workforce.

“Kirkcaldy has a historical association with Havelock spanning over 100 years. It would have been hugely disappointing for our community to see that legacy end.”