Scottish Business Summary - Week ending Friday 25th October 2024
Mike Watson
Owner of MWA Digital, the company behind Scottish Business Summary and Scottish Marketing News. All the essential Scottish headlines are curated and summarised and delivered to you via LinkedIn or directly to your Inbox.
Armstrong Watson acquires Glasgow-based accountancy practice Parkhill Mackie & Co
Armstrong Watson has acquired Glasgow-based Parkhill Mackie & Co, integrating 11 staff, including partners Linda Parkhill and Sandra Mackie, into its Glasgow office. This move supports Armstrong Watson’s growth strategy in Scotland, following recent acquisitions in the region. The firm aims to enhance its service offerings while providing continuity and growth opportunities for clients and staff.
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Strathberry doubles retail unit size in Covent Garden
Strathberry has expanded its London Covent Garden boutique to 1,200 sq ft, allowing the luxury leather goods brand to offer more exclusive products and personalization options. The Edinburgh-based company, which now has three standalone stores globally, also opened a new office alongside the store. Strathberry recently appointed Martin Byrne as managing director and reported a 53% rise in turnover to ￡27m for FY24. Its international growth has been strong, with significant sales increases in North America, the Middle East, and Japan.
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Royal Dornoch Golf Club secures 50 acres for future expansion
Royal Dornoch Golf Club has acquired 50 acres of adjacent farmland to expand the Struie Course and install a ￡1.5 million irrigation system, with design proposals expected in two to three years. The club envisions a new layout for additional holes and enhanced facilities, led by architect Tom Mackenzie’s 2013 masterplan, and will prioritize sustainability with the new irrigation capabilities.
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Aberdeen’s Forbes Lawson Wealth Management acquired by Fairstone
Fairstone has fully acquired Aberdeen-based Forbes Lawson Wealth Management, expanding its Scottish presence. This acquisition raises Fairstone’s total assets under management to over ￡17 billion, serving more than 125,000 clients. Forbes Lawson joined Fairstone’s Downstream Buy Out (DBO) programme in 2021, and the deal strengthens Fairstone’s foothold in Aberdeen, a key growth market. Both companies emphasize client-focused service and premium investment solutions.
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Venterra Acquires Aberdeen-based Oceanscan
Venterra Limited has acquired Oceanscan Holdings Limited to enhance its position in the offshore wind sector. The acquisition, advised by Piper Sandler Ltd., supports Venterra’s mission to expand its wind farm services and drive the energy transition. Oceanscan, based in Aberdeen, specialises in subsea rental equipment and geotechnical services. This move strengthens Venterra’s service offerings across the offshore wind lifecycle, positioning it as a leader in the growing renewable energy market.
Three Scottish tech companies win places on AG Elevate accelerator programme
Three Scottish tech companies—CataNiTek, Coastr, and Frontier Robotics—were selected for Addleshaw Goddard’s AG Elevate mentoring scheme. This 10-month accelerator will provide the companies with legal advice, mentorship, and access to networking events. CataNiTek focuses on chemical manufacturing, Coastr on vehicle rental systems, and Frontier Robotics on underwater exploration software. The program, running since 2017, helps high-growth tech businesses tackle legal and operational challenges.
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Document Data Group acquires Fife-based Hire Tech
Document Data Group (DDG), a business process optimisation company based in Bellshill, Scotland, has acquired Fife-based Hire Tech, a specialist in printers and copiers. The acquisition adds around 100 new customers to DDG and expands its geographic reach and customer support capabilities. DDG, with a turnover nearing ￡5 million, continues its growth since moving to Strathclyde Business Park in 2020. Brian Hamilton, Managing Director of Hire Tech, will remain involved post-acquisition, bringing his 40 years of industry expertise.
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Harbour Energy reported to be selling North Sea stakes
Harbour Energy, the UK’s largest oil and gas producer, is reportedly selling stakes in several North Sea fields. The move follows concerns over increased taxes on oil and gas revenue under the upcoming Labour government, which is expected to extend the windfall tax as part of its renewable energy funding. Harbour Energy is selling its interests in fields like Armada and Catcher, aiming to reduce exposure in the North Sea while focusing on its recent $11 billion acquisition of Wintershall Dea’s portfolio.
D2Zero acquires energy consultancy Kelton
Clean energy group D2Zero has acquired Kelton, a flow measurement consultancy, to strengthen its decarbonisation expertise. Kelton, with 12 offices and a 25-strong team, specializes in real-time system flow measurement for global energy companies. This acquisition aligns with D2Zero’s mission of servicing and decarbonising traditional energy while accelerating the shift to renewables. D2Zero, backed by SCF Partners, is expanding its strategic focus, and Kelton enhances its digital capabilities to solve complex decarbonisation challenges.
New 709 home development approved for Lancefield Quay
Glasgow City Council has approved plans to build over 700 rental flats to be operated by MODA on a brownfield site at Lancefield Quay, with the tallest structure reaching 22 storeys. The development will include 101 parking spaces, a new street, and is expected to generate ￡250 million in local economic impact, creating 400 jobs and 15 apprenticeships. Concerns over daylight loss and limited parking were raised by 13 objectors, while councilors acknowledged the city’s housing crisis as a reason for the project.
Edinburgh Space Testing Facility relaunches after ￡400,000 investment
The Higgs Centre for Innovation has relaunched its Space Testing Facility in Edinburgh after nine months of renovations and a ￡400,000 investment from the Science and Technology Facilities Council. The revamped facility features new clean rooms, advanced testing equipment, and expanded capabilities for testing small satellites and other spacecraft. It aims to support technology start-ups and space companies by offering affordable, world-class testing and specialist guidance, helping businesses bring their products to market more quickly and reduce risks.
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BK Plus makes double accountancy firm acquisition
BK Plus has expanded into Scotland by acquiring two accountancy firms: Cornerstone Accountants in Glasgow and FourM Accountants in Dundee. This move adds nearly 100 staff to BK Plus’ team and brings its total office count to 25. The acquisition aligns with BK Plus’ strategy to serve local SMEs with tailored advisory services.
￡10 million Ravenscraig business hub gets planning permission
North Lanarkshire Council has approved Fusion Assets‘ plan to develop four new business premises on a three-hectare brownfield site near Ravenscraig Regional Sports Complex. The development will consist of three single-occupancy buildings and a fourth split into six units, providing industrial space for up to 10 businesses. It includes 118 parking spaces, electric vehicle charging bays, and bicycle capacity. This project, part of the SevenFourEight production hub, aims to support economic growth and job creation in the area.
Russell Wilkie, director at Ravenscraig
Fine new Glasgow factory for Fyne Audio
Fyne Audio has opened a new factory in Glasgow, doubling its UK production capacity and bringing its research, development, and production under one roof. The 50,000 sq ft facility will house its design, manufacturing, and engineering operations. The site includes advanced technology, such as a cryogenic treatment chamber, and integrates its engineering team for better workflow.
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CSY Architects acquires Davidson Baxter Partnership
CSY Architects has acquired Kirkcaldy-based Davidson Baxter Partnership (DBP), an architecture and interior design firm founded by Stewart Davidson in 1985. Davidson will remain as a consultant director, while Alan Baxter, who joined as a director in 2011, will stay as a full-time director. The acquisition will expand CSY Architects’ team to 30 members and broaden its geographical reach. DBP’s Kirkcaldy office will integrate with CSY’s existing locations, enhancing its interior design capabilities.
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Summerhouse Drinks acquires Ella Drinks
Summerhouse Drinks has acquired Brechin-based juice producers Ella Drinks after the retirement of founders John Gallagher and Anne Thomson. The acquisition includes the wholesale processing equipment and retail brands Ella Drinks, Bouvrage, and Angus Apples. The operations will relocate to Fraserburgh with support from NESFLAG and Aberdeen Councils Coastal Communities Challenge Fund, enabling Summerhouse to expand production.
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Thorntons Wealth Management acquires Edinburgh based Robson Macintosh
Thorntons Wealth Management, based in Dundee, has acquired Edinburgh-based financial planning firm Robson Macintosh. This acquisition pushes the group’s managed assets to nearly ￡1 billion. Robson Macintosh will operate under the Thorntons brand, but with no changes to its client relationships and services. CEO Stephen Webster cited Robson Macintosh’s reputation for quality as the key factor behind the deal. The acquisition aligns with Thorntons’ strategy to expand through partnerships with firms sharing similar values and standards in financial services.
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Scotland sees nearly 2 million overseas visits in H1 2024
Scotland recorded nearly two million overseas visits in the first half of 2024, a 14% increase from the previous year and 46% more than in 2019. This influx injected approximately ￡1.5 billion into the economy. A key driver was a 54% rise in North American tourists, with spending up 29%. VisitScotland highlighted that over 70% of international visitors traveled to multiple locations within Scotland, reflecting its diverse appeal.
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Montrose Port Authority buys 45 acres of industrial land
Montrose Port Authority has acquired 45 acres of industrial land at Montrose Commercial Park from Equipco Investments Ltd to support its growth as an offshore energy hub. The purchase adds to its existing 59 acres at the harbor, bringing the port’s total landholding to over 100 acres. The newly acquired site includes the former Petrofac fire safety training facility and the demolished Charleton House hospital. The multimillion-pound deal aims to meet rising space demands in the offshore energy sector.
Aberdeen-based First Group aquires Anderson Travel
Aberdeen-based FirstGroup has acquired UK coach company Anderson Travel, which operates 40 coaches in London from depots near Tower Bridge and Heathrow. Anderson Travel focuses on school contracts, private hires, and tourism services. The acquisition aligns with FirstGroup’s strategy to expand in the B2B and B2C coach markets, seeking long-term growth opportunities. Anderson Travel recorded revenues of ￡7.3 million and EBIT of ￡1 million for the year ending June 2023. Founder Mark Anderson will remain in charge of daily operations during integration into First Bus.
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