James Gibb adds FG Burnett to growing portfolio
Douglas Weir: consolidating
Scottish factoring business James Gibb Residential Factors has acquired the residential factoring division of Aberdeen-based commercial property consultancy FG Burnett.
The acquisition grows the number of properties under management by James Gibb by 3,000 units, taking its total number of managed properties to more than 50,000.
Three additional staff will manage this new portfolio and the firm is also doubling its office space in Aberdeen.
Over the last two years the firm has tripled the volume of properties under management in the city since 2019.
The firm has now grown more than 12-fold in the last ten years and is setting its sights on cities in England, such as Birmingham and Manchester.
CEO Douglas Weir said: “We have been consolidating the factoring sector in Scotland carefully and this is another statement move as we aim to create genuine competition and differentiation in the market.”