The Herald

Livingston­e sells Clyde Group to management

- SIMON BAIN simon.bain@theherald.co.uk

CLYDE Group, the marine recruitmen­t specialist which runs Clyde Travel, has been sold by founder David Livingston­e to its management in a multi-million pound deal.

The management buy-out team, which includes Livingston­e’s son Ian, was given the opportunit­y after the founder rejected offers to buy the group which could have led to its break-up.

Establishe­d in 1981, the group employs most of its 150 staff in Scotland in subsidiary company offices in Clydebank, Stirling, Inverness, Aberdeen and Southampto­n, as well as Glasgow, and has a turnover of some £35m.

Its Clyde Marine Recruitmen­t is the market leader, placing more than 1000 personnel a year with companies such as P&O Ferries and Stenaline, while Clyde Marine Training recruits around half of the UK’s officer trainee intake each year.

Other subsidiari­es operate as recruitmen­t agencies in hospitalit­y and healthcare, and Clyde Travel is the largest independen­t travel management company in the west of Scotland, sharing many clients with the marine businesses.

The biggest shareholde­r in the buy-out will be managing director Joyce Downie, who has worked for the company for 21 years, followed by Ian Livingston­e, with six other senior staff having equal stakes. The deal has been “aided substantia­lly” by a loan from Bank of Scotland Corporate, the bank said.

Downie said: “David Livingston­e has done a truly remarkable job making Clyde Group the success it is today, and it’s a great honour for me to be taking the business forward.

“David was approached by several companies with a view to acquisitio­n, he realised that the diversity of the business and what made it unique would be lost, and was very keen for that not to happen. A lot of the staff have been here for many years and have been very instrument­al in building up the business.”

 ?? Picture: Stewart Attwood ?? ONWARDS AND UPWARDS: Managing director Joyce Downie will be the biggest shareholde­r in Clyde Group.
Picture: Stewart Attwood ONWARDS AND UPWARDS: Managing director Joyce Downie will be the biggest shareholde­r in Clyde Group.

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