Strathspey expands into holiday lettings + Pivot buys A2E
Elie: new lettings business
Strathspey Capital, the investment vehicle currently consolidating the factoring sector in Scotland, has extended its portfolio into the holiday lettings market with the acquisition of two businesses in the East Neuk of Fife.
Both Elie Letting and The East Fife Letting Company now operate as East Fife Holiday Homes, a company set up by Strathspey. The new firm has around 150 holiday properties under management.
Debbie Rummens becomes a director of East Fife Holiday Homes and will run the business alongside the existing staff of the previous businesses, all of whom have transferred to the newly-merged company.
Strathspey Capital’s chief executive, Douglas Weir, stated: “This is a strategic move into the holiday lettings market, which is growing and fragmenting each year. Our current businesses complement these acquisitions nicely, enabling us to apply our skills, knowledge and understanding of property management to holiday lettings.
“As we integrate these businesses into our portfolio, we will continue to seek out fresh acquisition opportunities as part of our wider plan to grow our presence in the holiday lettings space.”
The two previous owners of the businesses, Sally Pattullo of Elie Letting and Sue Griffiths of The East Fife Letting Company, have decided to retire after many years in their respective firms.
Pivot adds A2E to portfolio
Pivot International has announced the acquisition of Livingston-based A2E, a design and engineering solutions firm, for an undisclosed sum.
The move follows the acquisition of Glasgow-based product design company WideBlue in April 2018 and is believed to form Scotland’s largest independent product design and engineering group.
Established in 2002, A2E services a range of industries. The company specialises in single-source solutions, from concept development and design, prototype testing to design for manufacturing (DFM).