Scottish Loan Fund backs Merson Group’s ASG acquisition

The SLF originally committed £3 million of funding to Merson in 2012 initially to support its acquisition of CGL Systems Limited, a provider of metal façade and rainscreen cladding for commercial buildings.

Following its successful integration, Merson has looked to grow and diversify its product offering.

Today’s acquisition, which is also financed from the SLF’s existing investment facility, will see ASG’s founder and managing director, Sean Lloyd, join the Merson Group board.

David Milroy, Investment Director at Maven Capital Partners, fund managers to the SLF, said: “We have enjoyed an excellent working relationship with Merson since our initial investment back in 2012 and I am confident that Roddy’s team can continue to grow and diversify the business. Having been involved in the initial discussions with ASG it’s clear this acquisition makes strategic sense on a number of levels.”

Roddy Angus, CEO at Merson Group, said: “Having worked alongside ASG for a number of years, it became clear it would make an excellent addition to our group of businesses and we are delighted to make this announcement today and to welcome Sean and everyone at ASG to the Merson team.”

Scottish Enterprise’s investment arm, the Scottish Investment Bank, is the cornerstone investor in the SLF.

Michelle Kinnard, Investment Director at Scottish Investment Bank, said: “Merson Group’s continued expansion through acquisition of ASG provides the company with a great opportunity to further diversify and grow.”