The Summary: week ending 8 December 2023

Scotland ‘most entrepreneurial’ of devolved nations

YFM Equity partner’s inaugural Entrepreneur Economy report shows that Scotland is the ‘most entrepreneurial’ of the devolved nations.

The report states that Scottish founders contributed £52 billion in revenue despite constituting only 7% of the country’s small and medium-sized enterprises (SMEs).

Robot glove firm raises £435k from Biomedical Catalyst

Bioliberty, which has developed a robotic glove to help stroke patients and is based at Heriot-Watt University has raised a further £435k to add to the £3.5m already raised and has created eight jobs.

Conan Bradley is a co-founder and the firm plans to develop the US market.

Scottish Thistle Awards 2023

For a complete list of all the winners at this year’s Scottish Thistle Awards click here.

Scottish Whisky Awards 2023

For a complete list of the winner at this year’s Scottish Whisky Awards click here.

Battery storage start-up secures £900k

Kinross-based battery storage start-up LIND has raised £900,000 seed capital from Green Angel Ventures, Scottish Enterprise, and the University of Strathclyde.

Jamie Lindsay is the managing director at LIND.

Saudi sovereign wealth fund takes stake in Rocco Forte hotels group

The $700 billion Saudi Arabia sovereign wealth fund has taken a 49% stake in the Rocco Forte luxury hotels group which includes Edinburgh’s Balmoral.

The investment values the group at £1.2billion.

Iomart acquires Accesspoint Group Holdings for initial £4.5m

Glasgow-based cloud computing company Iomart as acquired London-based IT hosting firm, Accesspoint Group Holdings for an initial £4.5m which could be worth up to £6.4m.

Lucy Dimes is the CEO of Iomart.

The Centre Livingston acquired for undisclosed sum

LCP and Evolve Estates, both part of M Core have acquired The Centre Livingston, the million square feet retail and leisure destination for an undisclosed sum.

Omniplex splashes out £22m on Empire cinemas

Ireland’s Omniplex has bought five cinemas from Empire in a £22 million deal which secures 150 jobs. The deal includes the Clydebank site.

Law firm Thorntons opens dedicated Inverness office

Thorntons has appointed Paul Adams and John Smart as partners as it opens its first dedicated office in Inverness. The new team of eight joins from Wright, Johnston and Mackenzie. 

Two Aberdeenshire training firms merge

Health and safety firm AquaTerra Training has merged with Bon-Accord Training.

Carol Gray is a director of Bon Accord Training.

Charlie Cameron is MD of AquaTerra Training.

Turnover up and profits down at Stagecoach

Transport giant, Stagecoach has reported an increase in revenue from £669.6m to £773.2m during the half-year, while adjusted total operating profit fell slightly from £46.9m to £43.3m.

Innovation Lab launched by FinTech Scotland

FinTech Scotland has launched the Financial Regulation Innovation Lab (FRIL) which should help with employment creation and create business opportunities.

Nicola Anderson is CEO of FinTech Scotland.

Vertical farm experts assist with Saudi mega project

Edinburgh-based Intelligent Growth Solutions will play an integral part in a new Dubai based vertical farm which should be able to grow more than 3,000 tonnes of produce per year.

David Farquhar is CEO of IGS

US private equity firm snaps up Scottish smart metering firm in £1.3billion deal

US private equity firm Kohlberg Kravis Roberts (KKR) is to acquire Glasgow-based Smart Metering Systems (SMS) in a deal worth £1.3billion.

Acumen Accountants acquires Graeme Munro & Co

Aberdeen-based Acumen Accountants has acquired fellow NE practice Graeme Munro & Co in a six-figure deal.

Ross Murray is MD of Acumen Accountants.

Aberdeen jeweller opens up new Union Street TAG Heuer boutique

Jamieson & Carry, the Aberdeen- base retailer has opened a brand new TAG Heuer boutique on Union Street.

Philip Carry is a Partner at Jamieson & Carry.

New COO at Scottish rocket company

Scottish rocket manufacturer Orbex has appointed John Bone as its new chief commercial officer.

New CEO at Lost Shore Surf Resort

Andy Roger has been appointed as new chief executive of Lost Shore Surf Resort.

Set to open in September just outside Edinburgh, Lost Shore will feature Europe’s largest wave pool, luxury lodges and accommodation pods, a spa studio, food market and shops.

Andy Hadden is the founder of the resort.

Gilson Gray appoints new head of corporate law practice

Findlay Anderson has been appointed to the role of head of corporate law at Gilson Gray based at the Aberdeen office.

Glen Gilson is chair and managing partner of Gilson Gray.