FIRST GLASGOW (NO.2) LIMITED
🌳Matureactive
SC127012 · ltd · incorporated 1990-09-03
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
- · Thesis: well-run, low negotiation leverage
🔒Estimated value
—
Upgrade to see
Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
78/100
Strong
What this business does
Primary activity: SIC 49319
Sector: Transportation & storage
Investor take
PursueActive trading company with a 74-year-old founder — textbook succession opportunity.
Opportunity 78/100 (strong), bankability 77/100. Strong seller-intent signal (73/100, director aged 74). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (45/100).
🏦
Refinance opportunity
16 live charges · 3 lenders · oldest 35.5y
25/100
too messy
Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.
- · Oldest live charge is 35.5 years old — likely at or near maturity.
- · 3 lenders named — inter-creditor friction likely.
- · Legal-friction score 53/100 (high).
Data confidence
Overall: medium (61/100)Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.
Company profile
address, 1 SIC codes, incorporation date
100
Financials
No iXBRL financials extracted
0
Lenders & charges
16 charges (16/16 with lender, 16/16 with type)
90
Directors & officers
70 officers (5 active, 70 linked, 57 with DOB)
86
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
25 connected companies via shared directors
90
Filing history
327 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
78/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
85
Strong succession / seller-readiness signals.
Risk profile
69
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.
Recent activity
Last 30 days
4
filings
- • 4 officers
Last 90 days
4
filings
- • 4 officers
Last 180 days
5
filings
- • 4 officers
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (190 events)Click to expand
- 2026-04-07📄appoint-person-director-company-with-name-dateofficers · AP01
- 2026-04-07📄termination-director-company-with-name-termination-dateofficers · TM01
- 2026-04-07📄appoint-person-director-company-with-name-dateofficers · AP01
- 2026-04-07📄termination-director-company-with-name-termination-dateofficers · TM01
- 2026-04-01➕BROWN, Colin appointeddirector
- 2026-04-01➕CULLEN, Andrew Charles appointeddirector
- 2026-04-01➖CAMERON, Duncan Young resigneddirector
- 2026-04-01➖JARVIS, Andrew Simon resigneddirector
- 2025-10-17📄accounts-with-accounts-type-audit-exemption-subsiduaryaccounts · AA
- 2025-10-17📄legacyaccounts · PARENT_ACC
- 2025-10-17📄legacyother · GUARANTEE2
- 2025-10-17📄legacyother · AGREEMENT2
- 2025-04-01📄change-person-director-company-with-change-dateofficers · CH01
- 2025-03-31➕MCINNES, James Robert appointeddirector
- 2025-03-31➖BROWN, Colin resigneddirector
- 2025-03-31📄appoint-person-director-company-with-name-dateofficers · AP01
- 2025-03-31📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-11-12📄accounts-with-accounts-type-audit-exemption-subsiduaryaccounts · AA
- 2024-11-12📄legacyaccounts · PARENT_ACC
- 2024-11-12📄legacyother · AGREEMENT2
- 2024-11-12📄legacyother · GUARANTEE2
- 2024-02-08📄accounts-with-accounts-type-audit-exemption-subsiduaryaccounts · AA
- 2024-01-19📄legacyaccounts · PARENT_ACC
- 2024-01-19📄legacyother · GUARANTEE2
- 2024-01-19📄legacyother · AGREEMENT2
- 2023-12-29📄legacyaccounts · PARENT_ACC
- 2023-12-29📄legacyother · AGREEMENT2
- 2023-12-29📄legacyother · GUARANTEE2
- 2022-11-21➖MACFARLAN, Graeme Kenneth resigneddirector
- 2022-11-21➖SHIELDS, Linda resigneddirector
- 2022-11-21➖WEST, Gary resigneddirector
- 2022-08-09➕BLIZZARD, David John Mark appointedsecretary
- 2022-08-09➖WADE, Jarlath Delphene resignedsecretary
- 2022-05-16➕SHIELDS, Linda appointeddirector
- 2021-06-01➕WADE, Jarlath Delphene appointedsecretary
- 2021-05-21➖ALEXANDER, David Brian resigneddirector
- 2021-02-01➕BROWN, Colin appointeddirector
- 2020-12-31➖HARRISON, Douglas Wellwood resigneddirector
- 2020-07-31➖GLIBOTA-VIGO, Silvana Nerina resignedsecretary
- 2019-11-15➕GLIBOTA-VIGO, Silvana Nerina appointedsecretary
- 2019-11-14➖HAMPSON, Michael resignedsecretary
- 2018-02-22➕MACFARLAN, Graeme Kenneth appointeddirector
- 2017-10-13➖CAHILL, John Martin resigneddirector
- 2017-10-13➖MAYER, Margaret Beatrice resigneddirector
- 2017-10-13➕WEST, Gary appointeddirector
- 2017-04-24➕JARVIS, Andrew Simon appointeddirector
- 2017-03-24➖DICKSON, Kenneth George resigneddirector
- 2016-11-18➕CAMERON, Duncan Young appointeddirector
- 2016-09-12➖KERR, Fiona Mclaren resigneddirector
- 2016-07-22➕HAMPSON, Michael appointedsecretary
Showing most recent 50 of 190 events
Owner dependency
65/100
High — earn-out structure requiredMaterial founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
FACTORS
- -4 active directors: Broader management team in place — suggests transferable governance.
- +Long-tenure founder: Senior director has been in place 27 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 74 — succession pressure is live.
Succession & seller-readiness
80/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 70+: Senior director is approximately 74 years old. Natural succession window is now.
- primary20+ year tenure: Director in role 27 years. Very long tenure is a classic succession signal.
- supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.
Red flags
2 med ·2 director resignations in last 12 months
mediumMultiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.
Evidence: CAMERON, Duncan Young resigned 2026-04-01; JARVIS, Andrew Simon resigned 2026-04-01
Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Group structure
Firstbus (North) Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
Firstbus (North) Limited
Corporate parent · holds 75-100% shares · board control
⬇
FIRST GLASGOW (NO.2) LIMITED
This company · SC127012
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Firstbus (North) Limited Corporate entity | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 06/04/2016 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
🔒Co-director network graph
Radial SVG graph showing every company connected via shared directors, colour-coded by status.
Available from the Pro tier upwards.
See pricing →Similar companies
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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
7 specific questions generated from this company's actual signals — liquidity, leverage, director age, charge count, red flags, age-of-company.
Available from the Pro tier upwards.
See pricing →🔒Advanced scoring suite
Exit-route ranking, improvement thesis, quiet-distress detector, covenant-pressure proxy, extraction monitor, approaching triggers, ownership drift, local cluster, value trap, debt capacity, archetype classification — 48+ scoring modules.
Available from the Pro tier upwards.
See pricing →Company details
Statusactive
Typeltd
Incorporated1990-09-03
Jurisdictionscotland
Primary SIC49319 — SIC 49319
Registered office
100 Cathcart Road
Glasgow
G42 7BH
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-29
Confirmation statement
Next due: 2027-01-17
Last: 2026-01-03
Officers (5 active · 65 resigned)
BLIZZARD, David John Mark→
Activesecretary · appointed 2022-08-09
View their other companies + combined net worth →
BROWN, Colin→
Activedirector · ~58y · appointed 2026-04-01
View their other companies + combined net worth →
CULLEN, Andrew Charles→
Activedirector · ~47y · appointed 2026-04-01
View their other companies + combined net worth →
MCINNES, James Robert→
Activedirector · ~42y · appointed 2025-03-31
View their other companies + combined net worth →
WILLIAMSON, Ronald Russell→
Activedirector · ~74y · appointed 1999-04-01
View their other companies + combined net worth →
BARRIE, Sidney→
Resignedsecretary · appointed 2007-09-27 · resigned 2011-07-15
GLIBOTA-VIGO, Silvana Nerina→
Resignedsecretary · appointed 2019-11-15 · resigned 2020-07-31
HAMPSON, Michael→
Resignedsecretary · appointed 2016-07-22 · resigned 2019-11-14
LEWIS, Paul Michael→
Resignedsecretary · appointed 2011-07-15 · resigned 2014-05-19
MANN, Gerald→
Resignedsecretary · appointed 1990-09-19 · resigned 1995-06-01
MILNE, Michael Mckenzie→
Resignedsecretary · appointed 1998-06-12 · resigned 2007-09-27
SHAW, Peter Michael→
Resignedsecretary · appointed 1995-06-01 · resigned 1996-06-04
STEWART, Neale John→
Resignedsecretary · appointed 1996-06-05 · resigned 1998-06-12
WADE, Jarlath Delphene→
Resignedsecretary · appointed 2021-06-01 · resigned 2022-08-09
WELCH, Robert John→
Resignedsecretary · appointed 2014-05-19 · resigned 2016-07-22
OSWALDS OF EDINBURGH LIMITED→
Resignedcorporate-nominee-secretary · appointed 1990-09-03 · resigned 1990-09-19
ALEXANDER, David Brian→
Resigneddirector · ~61y · appointed 2014-04-21 · resigned 2021-05-21
ANDERSON, John→
Resigneddirector · ~85y · appointed 1991-03-06 · resigned 1996-10-03
BARKER, Neil James→
Resigneddirector · ~62y · appointed 2011-12-01 · resigned 2014-04-21
BELFIELD, Kevin John→
Resigneddirector · ~60y · appointed 2012-06-27 · resigned 2014-08-18
Click a director name to see their full track record across all companies.
Mortgages & charges
16
Total charges
0
Outstanding
0
Active lenders
Status:Lender:16 of 16 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 01/03/1991 | 13/10/1999 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 01/03/1991 | 23/09/2002 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 21/02/1991 | 23/09/2002 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 21/02/1991 | 23/09/2002 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 21/02/1991 | 23/09/2002 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 21/02/1991 | 23/09/2002 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 21/02/1991 | 23/09/2002 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 21/02/1991 | 23/09/2002 | |
| satisfied | Scottish Transport Group | Bond & floating charge | 1 property | 18/02/1991 | 29/12/1994 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Bond & floating charge | 1 property | 18/02/1991 | 26/09/2002 | |
| satisfied | S T E Properties S T E Properties LTD | Standard security | 1 property | 19/12/1990 | 23/09/2002 | |
| satisfied | S T E Properties S T E Properties LTD | Standard security | 1 property | 07/12/1990 | 24/03/2006 | |
| satisfied | S T E Properties S T E Properties LTD | Standard security | 1 property | 07/12/1990 | 24/03/2006 | |
| satisfied | S T E Properties S T E Properties LTD | Standard security | 1 property | 07/12/1990 | 23/09/2002 | |
| satisfied | S T E Properties S T E Properties LTD | Standard security | 1 property | 06/12/1990 | 23/09/2002 | |
| satisfied | S T E Properties S T E Properties LTD | Standard security | 1 property | 22/10/1990 | 23/09/2002 |
Recent filings (327 total)
appoint-person-director-company-with-name-date
officers · AP01
2026-04-07
termination-director-company-with-name-termination-date
officers · TM01
2026-04-07
appoint-person-director-company-with-name-date
officers · AP01
2026-04-07
termination-director-company-with-name-termination-date
officers · TM01
2026-04-07
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-01-06
accounts-with-accounts-type-audit-exemption-subsiduary
accounts · AA
2025-10-17
legacy
accounts · PARENT_ACC
2025-10-17
legacy
other · GUARANTEE2
2025-10-17
legacy
other · AGREEMENT2
2025-10-17
change-person-director-company-with-change-date
officers · CH01
2025-04-01
appoint-person-director-company-with-name-date
officers · AP01
2025-03-31
termination-director-company-with-name-termination-date
officers · TM01
2025-03-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-03
accounts-with-accounts-type-audit-exemption-subsiduary
accounts · AA
2024-11-12
legacy
accounts · PARENT_ACC
2024-11-12