CalTech Lifts Brothers Buy New HQ To Pave Way for Next Phase of Growth

Andrew and Fraser Renwick, the brothers who run Dundee, Scotland-headquartered Caltech Lifts, have embarked on the next phase of their plan to grow to GBP6 million (US$7.5 million) turnover and improve customer service by buying a new headquarters (HQ) building with warehouses and rental offices. The new HQ, known as Affinity House is in Dundee’s Dryburgh Industrial Estate and was purchased for GBP1 million (US$1.2 million). The family firm, established in 1978 by Howard Renwick and run since 2013 by two of his sons, is one of Scotland’s leading suppliers and maintainers of lifting equipment, including passenger lifts, goods lifts, disabled-access lifts and stairlifts to the public and private sectors. The company maintains more than 1,500 lifts across the U.K. and has 30 employees. Affinity House was purchased by Calsum Property Ltd., a commercial property firm set up by Andrew and Fraser Renwick with two close business associates. The deal was financed with a commercial mortgage from Allica Bank via Breadalbane Finance and included investment from Caltech and the other investors. Kyle Moir, commercial property partner at Thorntons Law, acted for Caltech on the deal, which was completed on February 29.