Deal creates Scotland's biggest property factor
- Published
Strathspey Capital has become Scotland's largest property factor after acquiring Rutherglen-based Speirs Gumley for an undisclosed sum.
The deal brings the total number of Scottish properties managed by the Strathspey Group to more than 86,000.
Speirs Gumley has 32,000 units under management in Glasgow and Edinburgh.
Strathspey aims to consolidate the sector to "improve professional standards in the industry and deliver better value to homeowners."
Strathspey is the parent company of James Gibb Property Management, which operates in the central belt, Dundee and Aberdeen and currently manages about 54,000 properties.
Strathspey chairman Stuart Pender said: "This transaction unites two of the strongest businesses and management teams in the sector.
"We believe we now have the most experienced, knowledgeable and technically capable team in Scotland, which will ensure that we can maintain our market-leading position."
Speirs Gumley and James Gibb will continue to operate as separate businesses and brands, led by chief executives Lorraine MacDonald and David Reid, respectively.
Ms MacDonald will also join Strathspey Capital's board.
Strathspey said there would be further investment in Speirs Gumley "to both retain its culture and expand its operations".
Mr Pender added: "We remain open to future acquisitions and are actively seeking further opportunities to expand both in Scotland and south of the border."