Scottish agricultural machinery business Balgownie has been bought out of administration by a larger family-owned rival that will save a remaining 15 jobs within the business.

Inverness-headquartered MacGregor Industrial Supplies has purchased the assets of Balgownie Limited and Balgownie Rentals Limited after administrators Johnston Carmichael were called in last month following cash flow difficulties. This resulted in the immediate loss of 24 jobs at the business, which had been trading since 1907.

Founded in 1985, MacGregor has 17 divisions and six branches throughout the Highlands and Islands catering to industries from aquaculture, agriculture and forestry to construction and ironmongery. Employing more than 300 people, it also offers repair, rental and locksmith services.

The sale includes both the Inverurie and Turriff trading sites of Balgownie. It follows MacGregor's acquisition of Aberdeen Packaging in November of last year.

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"This acquisition is in line with our mission to grow MacGregor Industrial Supplies Limited and we believe customers will benefit as we continue to strengthen our product and service capability throughout Aberdeenshire and the MIS branch network," managing director John MacGregor said.

"It is our goal to continue providing the highest level of customer service during this time and in the future."

Richard Bathgate and Graeme Bain of Johnston Carmichael were appointed as joint administrators of Balgownie on March 15 after directors ran into insurmountable difficulties.

"As a result of cash-flow issues, the board of directors is deeply saddened to announce that we have had to make the difficult decision to appoint administrators to the company with immediate effect," managing director Mike Singer said at that time.

Speaking today, Mr Bathgate said: "We are delighted to have sold the business and assets of Balgownie and preserved employment for 15 skilled staff. Balgownie is a well-respected name and long-established brand that provides machinery to the agricultural, construction, and groundcare industries in the north of Scotland.”