Souter Investments
is one of the UK’s leading family investment offices specialising in private equity



Vintage: October 2013

Sector: Industrials

Location: Aberdeen

Type: MBO

Souter Role: Co-investor, Minority Stake

Souter Director: Yes

Status: Current

Nucore is an Aberdeen based service company specialising in designing, supplying and servicing fire and safety equipment.  Whilst mainly focused on the Oil & Gas sector, Nucore also provides services to businesses and local authorities in the North East of Scotland.

In May 2015, Nucore acquired HVAC&R, a complementary heating, ventilation, air conditioning and refrigeration business based in Aberdeen.  In 2013, Souter Investments backed the initial MBO of Oteac, joining a syndicate led by Lonsdale Capital.  The acquisition of HVAC&R doubled the size of the business, helping the business to diversify into complementary markets and offering opportunities to cross-sell products.


Related post: Souter Invests in Fire Protection Company