The Cumbernauld-based manufacturer is being taken over by Vivalda as it strengthens its position in the UK cladding sector.
MSP will continue to trade under its brand and secure the 50 current roles in Cumbernauld, with future plans to create more positions as the business grows.
The former managing director of MSP, George Ross, will remain within the company as a consultant.
The firm will bring important manufacturing capabilities to Vivalda, including its Qualicoat-accredited powder coating line which will allow Vivalda to offer bespoke aluminum facades in a variety of shapes and colours, all manufactured in the UK.
Welcoming the MSP brand to Vivalda, chairman Peter Johnson said: "The MSP name is well known across the UK as a provider of both branded facia boards, as well as its bespoke coated aluminium façade solutions. I've been impressed with the level of skilled technicians and engineers based here at Cumbernauld – which I am sure will prove to be a great asset to the Vivalda Group.
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"We intend to invest in people and technology here at MSP, to create a world-class façades manufacturing and fabrication facility. There's a great fit between Vivalda and MSP, both strategically and culturally, and I am confident that this acquisition will bring further growth to our business."
Mr Johnson added that the sale of MSP was a further sign of consolidation within the UK cladding market, following the Grenfell Tower disaster of 2017. He said: "While the jury is still out on the culpability of those responsible for the failings at Grenfell, the cladding sector has seen big changes in the past two years, with many low quality, smaller suppliers exiting the market. The days of supplying untested facia board for high rise buildings is thankfully a thing of the past, with the use of ACM and HPL on tall buildings now effectively outlawed. While not directly related to Grenfell, this deal shows that there is consolidation happening within our market – something I see as a positive sign in terms of safety and efficiency. This will all be good news for contractors and architects. In terms of products, we see a big future in fully fire-resistant 3mm aluminum cladding, the type of which is manufactured here at MSP."
(CM/JG)
