Member Article

Blaydon’s DJ McGough acquired by North Tyneside energy firm trueco

North Tyneside energy saving firm trueco has acquired DJ McGough Limited, a Blaydon-based provider of plumbing, heating and mechanical services, for an undisclosed sum.

Created by directors Andrew Dobing and Erik Coates, trueco delivers energy efficiency through the installation of high quality heating systems under the Government’s ECO scheme.

DJ McGough was established by its owner, Dave McGough, in Blaydon and is approaching its 30th Anniversary.

The firm has a team of 60 operatives specialising in the design and installation of systems in industrial and commercial new build projects and in upgrading and maintaining appliances in local authority housing.

The management teams at both businesses have worked closely together in the past and the transaction presents them both with the opportunity to benefit from each other’s strengths.

Dave McGough is staying on in the business as an executive director and minority shareholder, and is enthusiastic about the future.

He said “This is great news for DJ McGough and, importantly, for our people. I have known Andy Dobing and Erik Coates for many years and I am confident that the business is in good hands.”

Andy Dobing of trueco added: “We are delighted to have acquired a business which has a reputation in this sector second to none. The current infrastructure complements trueco’s existing revenue streams and will allow us to build upon a strong established business.”

Funding for the transaction was provided by HSBC with the DJ McGough shareholders advised by Jamie Pass and Stacey Hall of Bond Dickinson LLP.

Jamie Pass of Bond Dickinson LLP said: “We have enjoyed working with Dave McGough for many years, and are thrilled to have helped on this transaction which is the next step in a real North East success story.”