Scottish professional services firm Moray Group, led by Aberdeen businessman Rob Aberdein, has sold its Simpson & Marwick (S&M) estate agency.
The move comes just over a year after English group Progeny acquired Moray from Mr Aberdein and other investors. He became chief commercial officer at Leeds-based Progeny after that deal, while also retaining his role as managing director of Moray.
The 44-year-old had launched Glasgow-headquartered Aberdeins, which later changed its name to Moray, in 2020. He did so with more than £1 million of backing and ambitions to shake up the Scottish legal scene.
Historic estate agency no longer ‘core’ to Moray Group’s plans
S&M, previously part of Clyde & Co, was the group’s first acquisition soon after launch.
Explaining the sale of Edinburgh-based S&M for a “six-figure sum” after just three years, Mr Aberdein said estate agency was no longer “core” to Moray’s future plans.
And he said the new owner, the newly formed Simpson and Marwick Group (SMG), could take the “historic business” to the next level.
Who’s in Simpson & Marwick’s takeover team?
SMG is led by Sean Nicol, the former sales director of Edinburgh solicitors/estate agents Coulters and Gary Wales, ex-director of US firm Keller Williams Caledonia.
Also part of the boardroom team are Commsworld founder Ricky Nicol and his long-term chief financial officer, Graeme St John, who both have experience in scaling up businesses into successful companies.
S&M has been part of the Scottish law scene since 1886. It was involved in both the inquiry into the Piper Alpha tragedy and legal proceedings after the Lockerbie bombing.
Mr Nicol said: “The Simpson & Marwick legacy and expertise aligns perfectly with our vision and ambitions, allowing us to take an already incredible brand to an all-new level.
‘Historic baton’
“Having served clients for almost 140 years, Simpson & Marwick brings unparalleled value and it is a privilege to carry this historic baton.”
Mr Wales added: “We are very proud to have this opportunity to develop and grow one of Scotland’s most prestigious estate agents.”
We are excited about where the new owners can take the brand.”
Rob Aberdein, of Moray Group/Progeny
Mr Aberdein, a former partner of Aberdeen-based law firm Aberdein Considine, said: “We are pleased to be able to pass on the Simpson & Marwick brand to such an experienced and expert group of custodians who will take this historic business to the next level.
“Estate agency is no longer core to our future plans, but we are excited about where the new owners can take the brand and its people, and we wish them all well.”
Rob Aberdein left family-run Aberdeen law firm harbouring big ambition to shake up the legal sector
Mr Aberdein left Aberdein Considine – co-founded in 1981 by his father, Harvey – in July 2017 to become the youngest ever equity partner at English law firm Walker Morris.
Launching Aberdeins/Moray in the autumn of 2020, the former Cults Academy pupil and Aberdeen University graduate said it would use technology to meet the changing demands of individuals and small businesses across law and other professional services to “reflect the 2020s, not the 1950s”.
Progeny’s expansion continues
Progeny’s acquisition of Moray last year included Aberdeen law firm Esson & Aberdein and Glasgow-based conveyancing and debt recovery specialist Alston Law.
Last week it was announced Scottish financial planning experts Carbon Financial and its £600 million of assets under management had been acquired by fast-growing Progeny for an undisclosed sum.
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