From Yahoo! UK and Ireland Finance: Scottish entrepreneur Jim McColl has sold ClydeUnion Pumps, just four years after acquiring the business for £45m. Jim McColl, one of Scotland’s wealthiest businessmen, has sold ClydeUnion Pumps the company that first employed him as a 16 year old apprentice to an American group for £750m. The deal with SPX Corporation (NYSE: SPW - news) represents a remarkable turnaround in ClydeUnion’s fortunes, four years after the industrial pumps group was created from the £45m acquisition of the struggling Glasgow-based Weir Pumps business.
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ClydeUnion Pumps sold to SPX for £750m
Yours,
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