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  • The Summary: week ending 9 February 2024

The Summary: week ending 9 February 2024

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Mike Watson
February 09, 2024

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It’s early Friday afternoon and time for your favourite summary of this week’s best Scottish business news stories.

Let’s go…..

Gilson Gray takes over Dundee’s Bowmans Solicitors

Gilson Gray has acquired Bowmans Solicitors, expanding its Dundee and Angus presence and planning further growth. The firm now occupies an additional floor at 2 West Marketgait, Dundee, and an office in Forfar. The acquisition brings 11 team members, including principal Elizabeth McGillivray, to Gilson Gray.

Thorntons Solicitors sees income rise 8.2% to £37.8m

Law firm, Thorntons, has reported an 8.2% increase in turnover, reaching £37.8 million for the financial year ending May 31, 2023. The firm expects to surpass £40 million in turnover this year. Expansion efforts included opening offices in Edinburgh and Glasgow, with significant new hires. Thorntons also secured key clients in emerging sectors and completed notable deals, such as advising Intelligent Growth Solutions on a £22.5 million Series C fundraise.

Lesley Larg, managing partner, Thorntons

£4.5 million windfall from Aberdeen’s cruise sector growth

The Port of Aberdeen is set to welcome over 100 cruise ships annually by 2027, promising a £4.5 million economic boost to the region this year. This growth, driven by the new Aberdeen South Harbour, is expected to significantly benefit local businesses and attractions, with anticipated spending potentially exceeding £20 million in future years if guest numbers reach 150,000.

Read more about this here.

£1m SME support for additive manufacturing

The £1 million Additive Manufacturing Business and Technology Support (AM-BATS) project has supported over 100 Scottish SMEs across various sectors in exploring additive manufacturing (AM) techniques. Delivered by National Manufacturing Institute Scotland and funded through the Scottish Government’s Advancing Manufacturing Challenge Fund, the program has facilitated businesses in adopting new processes for sustainable product development and market expansion. Among the success stories are Confidence Plus and ROCIO, who have utilized AM for medical devices and fashion accessories, respectively, showcasing significant efficiency improvements and innovation.

New spirits distributor launches in Glasgow

Kilninian Drinks Co has launched in Glasgow, focusing on independent retail markets with a portfolio including King’s Inch single malt, Liquid Oats liqueur, and Glaswegin. Founder Jamie Williamson, with over a decade of industry experience.

Beeks signs $3.6m US investment manager deal

Beeks Financial Cloud Group secured a $3.6 million deal with a US investment manager, doubling the value of an initial contract. This expansion into new locations marks a significant step for Beeks, with the company also winning a contract with a global group for its Exchange Cloud trading environment. These developments, alongside a trading update showing over 25% revenue growth.

Gordon McArthur, CEO of Beeks

MHA acquires another Scottish accountancy practice

MHA merged with Edinburgh-based accountancy firm Geoghegans, marking its second merger in Scotland and fourth in the past year, including two in Wales. This move enhances MHA's services and expands its presence in Scotland. The Geoghegans office has been rebranded, and all four partners, Euan Fernie, Iain Binnie, Lachlan Fernie, and Paul Marshall, will become partners at MHA. Rakesh Shaunak expressed plans for further Scottish expansion.

Glamcandy entrepreneur sells up

Hayley Harvey Smith, founder of Glamcandy, has sold the business, which she started in Edinburgh in 2011 and grew to become Scotland's leading makeup college. Glamcandy now operates in five Scottish cities, employs over 30 people, and offers high school programs alongside college courses. Harvey Smith is moving on to new ventures in the fashion and cosmetics industry, including launching a makeup brush brand, Blend, and investing in a video content creation startup.

Read more about this here.

Hardies acquires David Adamson and Partners

Hardies Property & Construction Consultants has acquired the Edinburgh and Kirkcaldy offices of David Adamson and Partners, marking its fifth acquisition in five years. This deal includes eight staff members joining Hardies, expanding their service range and strengthening their presence in Lothian and Fife. The acquisition is part of Hardies' growth plans, following other acquisitions and the opening of new offices in Belfast, Leeds, and London.

EnergyTech Bridge programme launched by Opportunity North East (ONE)

The ONE EnergyTech Bridge Programme, in partnership with Barclays Eagle Labs and CodeBase, supports businesses transitioning to low-carbon and renewable energy. Aimed at fostering digital tech innovation in energy, the programme aligns with global net-zero objectives and has supported 15 businesses in north east Scotland. It emphasizes the importance of disruptive digital innovation for climate action and leverages the region's offshore energy expertise.

Karen O’Hanlon, Digital Tech Director at ONE

Scottish EDGE returns for 23rd round with new creative award

Scottish EDGE has introduced a new Creative Award offering up to £100,000 to support creative businesses in Scotland, as part of its 23rd round. This initiative, in partnership with Creative UK, aims to boost Scotland's creative industry, contributing an estimated £5 billion annually. A total of £1.5 million will be available to high-growth Scottish businesses, aiming to mirror the success of previous Net Zero and Circular Economy awards. Scottish EDGE has supported 602 businesses so far, creating 3,500 jobs and increasing turnover by £680 million.

Cube Glass achieves record turnover

Cube Glass has reported a record turnover of £4.5m for the year to October 2023, driven by a significant contract and new international partnerships. The Cumbernauld-based specialist in glass and aluminium attributes its growth to the introduction of new products and a strategic focus on both commercial and residential projects, leveraging relationships with international partners like Bel’M, Senior Architectural Systems, Metal Technology, and Schüco.

Gary Thorn, founder and MD of Cube Class

Read more about this here.

ANM Group snaps up Sweeney Kincaid

ANM Group has acquired the Glasgow-based auction business Sweeney Kincaid, a significant provider of auction and valuation services for industrial, commercial, and business assets. This acquisition is part of ANM Group's strategy to expand its market reach across the central belt of Scotland and into northern England. Russell Kincaid will continue in his role as managing director, and all employees will be retained.

Expansion plans for kitchen fit-out firm

Silver Birch Interiors, founded by Alan Macgregor, celebrates its 10th anniversary with ambitious expansion plans. After significant year-on-year growth, the company aims to refurbish its Hamilton showroom, open new premises in Livingston, and add six team members. Additionally, a new showroom in East Kilbride is in progress, highlighting Macgregor's journey from a solo kitchen installer to leading a successful kitchen fit-out firm in Scotland.

  • Alan Macgregor, Founder and Managing Director, Silver Birch Interiors

Read more about this here.

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Grant Thornton appoints new Scottish practice leader

Grant Thornton UK has appointed Stuart Preston as the new practice leader for Scotland, aiming to grow the team across Glasgow, Aberdeen, and Edinburgh. Alongside Preston's appointment, Lynne Bicket and James Andersen were promoted to audit partners, and Claire Martin to director in the restructuring team.

Read more about these appointments here.