Takeover creates massive property management firm ambitious to grow

Strathspey Capital is to become Scotland’s largest factoring business after acquiring Glasgow-based Speirs Gumley.

Factoring is the term commonly used in Scotland for property management.

The acquisition brings the total number of units managed by the Strathspey Group to over 86,000 across Scotland. 

Speirs Gumley is predominantly a factoring business with 32,000 units under management in Glasgow and Edinburgh, the vast majority of which are in Glasgow. It manages around 4,000 properties in the capital, including the prestigious Quartermile development.

Strathspey says it aims to consolidate the factoring sector in Scotland to both improve professional standards in the industry and deliver better value to homeowners. It is the parent company of James Gibb Property Management, which operates in the central belt, Dundee and Aberdeen and currently manages around 54,000 properties.

Stuart Pender, chairman of Strathspey Capital, says: “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. With scale comes responsibility, so we will be looking to cement our reputation for strong customer service and innovation in everything we do. This is good news for homeowners and good news for our people.”

Speirs Gumley and James Gibb will continue to operate as separate businesses and brands.

Lorraine MacDonald, chief executive of Speirs Gumley, adds: “I am very proud of the business and culture we have built at Speirs Gumley. If we were ever to sell, it had to be to a custodian that understood our values and was prepared to invest in our future. 

“Strathspey brings a wealth of knowledge and experience to our business, which is a great opportunity for the Speirs Gumley team. I look forward to working with Stuart and the team at James Gibb to harness the power of the group for both businesses.”

Meanwhile Strathspey says it continues to actively seek out acquisition opportunities both in Scotland and further afield.