Celeros Flow Technology (Celeros FT) has announced a strategic plan to provide future stability for its ClydeUnion Pumps facility in Cathcart, Glasgow.
American-headquartered Celeros FT manufactures and maintains pumps, valves, filtration, closures and other fluid handling equipment for customers operating in the renewable, defence, nuclear, oil and gas and water treatment sectors. It purchased the Cathcart site from SPX FLOW in 2020, bringing ClydeUnion Pumps under its umbrella of brands.
To raise funds to invest and grow the business, Celeros FT is harnessing its property portfolio. The Cathcart site comprises approximately 18 acres, including six acres of redundant buildings and land along Inverlair Avenue. The intention is to offer the redundant land to the residential market and use the funds to reinvest in the business. Meanwhile the sale and leaseback of operational land and buildings has just completed. Celeros FT has signed up to a minimum 25-year commitment on the 369,000 sq ft of manufacturing buildings and 111,000 sqft of office space it currently occupies, with options to extend the term.
Investment to build upon Celeros FT’s existing workforce is also underway with the introduction of a new apprenticeship programme. Designed to create the workforce of the future, the programme offers 48 apprenticeships over six years, with 22 recruited across 2021/2022 and a further 26 planned for 2023-2026. The apprenticeship scheme will ensure strength and depth across all functions and is run in conjunction with East Kilbride Training Group.
Celeros FT has appointed Dawn Developments and Cushman & Wakefield to provide development advice on the best way to deliver investment from the vacant property. Work to demolish disused buildings is already underway and consultation with the community will form part of the residential development.
In the sale and leaseback transaction, Cushman & Wakefield and Dawn Developments acted on behalf of Celeros Flow Technology/ClydeUnion Pumps.
Courtesy of Celeros Flow Technology.