Jim McColl
| Jim McColl OBE | |
|---|---|
| Born |
James Allan McColl 22 December 1951 Carmunnock |
| Nationality | Scottish |
| Education |
Rutherglen Academy Strathclyde University |
| Occupation | Businessman |
| Known for | Entrepreneur, Engineering Clyde Blowers |
| Net worth |
 £1 billion,(US$1.4 billion) or more |
James Allan "Jim" McColl OBE (b. 22 December 1951) is a Scottish businessman and entrepreneur. He is responsible for the development of Clyde Blowers plc. In 2007, he was placed tenth on the Sunday Times Rich List in Scotland. The Daily Record reported in November 2008 that McColl had overtaken Tom Hunter as "Scotland's richest man" with an estimated fortune of £800million.
Born in Carmunnock, the son of a butcher was raised in a small village outside East Kilbride, and educated at Rutherglen Academy.
McColl left school at 16 to take up an engineering apprenticeship with Weir Pumps of Cathcart, Glasgow. After gaining City & Guilds certificates at lower and higher level, he gained a BSc Degree in Technology and Business Studies at Strathclyde University. He returned to Weir Pumps in 1978, studying for the next three years for an MBA.
McColl joined Diamond Power Speciality Ltd in 1981, an engineering company supplying equipment to the power industry worldwide; during his tenure he studied part time for a Master's degree in International Accounting and Finance. Head hunted by Coopers & Lybrand, in 1985 he became a consultant, working with companies in financial difficulties that needed guidance. In 1986 he left Coopers to become a self-employed "company doctor", during which he made money through two successful turnarounds.
In 1992 McColl bought 29.9% of the family-owned engineering company Clyde Blowers plc for £1million, which was then losing money on a turnover of £4million, but had a full listing on the . After taking it private company and increasing his holding to 70% in 2001, over the following five years Clyde Blowers bought six of eight major competitors, and now have a 55% global market share of their original core business. In May 2007, Clyde Blowers bought Weir Pumps from the Weir Group plc, the same company McColl started his career at. In September 2008, McColl led a team which enabled Clyde Blowers to acquire the entire Fluid & Power Division of Fortune 500 multi-industry company Textron, in a deal worth over $1 billion. Clyde Blowers presently consists of 85 companies in 27 different countries, employing 5,000 people around the world, with an annual turnover in excess of £1.35 billion.
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