An independent Scottish lift company Caltech Lifts, headquartered in Dundee, is buying rival firm Scotlifts (Scotland) for an undisclosed sum.

The acquisition of Coupar Angus-based Scotlifts is set to complete on Friday and the Scotlifts brand name will go. As a result of the acquisition and future structured growth, Caltech expects turnover to grow from £1.65 million to £1.9m and the number of lifts maintained across the UK to expand from 970 to 1,000.

Caltech is a UK supplier and maintainer of lifting equipment, including passenger, goods and disabled access lifts and stairlifts to the public and private sectors.

It is the first acquisition by Caltech, a family firm founded in 1978 by engineer Howard Renwick and now run by his sons Andrew and Fraser. The firm said it continues the growth trajectory started when Andrew Renwick took over as managing director in June 2013. It said that while no further acquisitions are currently planned, it would consider buying other smaller lift companies.

Scotlifts’ owner, Scott Murray, will join Caltech’s management team as new installations manager. Scotlifts employee and company assets will transfer to Caltech, along with its 50 contract clients across Dundee, Perthshire and the Highlands. Clients include St Johnstone FC, care homes, visitor centres, office buildings and industrial sites. One employee moves to Caltech bringing its total workforce to 17.

Andrew Renwick said: “We’re delighted to have successfully acquired Scotlifts Scotland Ltd and have Scott join us because he’s built it over 15 years into a highly-regarded company with a loyal service contract base in our key operational area.

“Scott is one of the most talented lift engineers in Scotland and has built an enviable reputation across the UK for the quality of his work. As a result, it’s very hard to secure him as a sub-contractor because he has a huge waiting list of multinational lift companies wanting to use him to install their lifts across the UK.”

He added that having Mr Murray on the company’s installation and repairs team full-time will significantly strengthen its growth aspirations and engineering capability as he will be heavily involved in a hands-on role and in supervising engineers and training apprentices.

Mr Murray said: “I’m looking forward to helping Caltech continue its growth path.”