Property data firm sold
Souter Investments sells stake in OneSearch Direct
Sir Brian Souter: a busy year
Souter Investments has sold its controlling stake in OneSearch Direct, a Glasgow-based property data search company.
Souter Investments, the family investment office of Stagecoach founder Sir Brian Souter, first invested in OneSearch in 2007. Its holding has been acquired by Landmark Information Group, owned by the Daily Mail and General Trust. Terms and details of the deal were not disclosed.
Liz Jarvis, managing director of One Search, headquartered at SkyPark, commented: “It has been fantastic to have had the backing of Souter Investments over the years. Their unwavering support for our data-led approach to innovation has allowed OneSearch to thrive in the local search data market.
“Our partnership has played an integral part in the growth of OneSearch, and we are proud that Souter Investments’ belief in our potential and vision is now shared with Landmark.
“This transition is a significant step in our journey as we look to effect real change in the home buying process, and we are delighted that Souter Investments has played a part in it.”
Calum Cusiter, investment director at Souter Investments, said: “Souter Investments would like to place on record its gratitude for the hard work and commitment of the staff and management of OneSearch in helping to realise this successful exit after 12 years of our involvement.
“I believe that the combination of OneSearch and Landmark will help accelerate the exciting growth plans that are being already being delivered by Liz and the team.
“The sale of OneSearch caps the end to a busy 2019 for Souter Investments during which we have realised several investments, including Alexander Dennis, Mobius Life and our 2 New Zealand bus businesses, Howick & Eastern Buses and Mana Coach Services.
“We have also made investments into new businesses including DivideBuy, Stone Computers and Eaton Gate Insurance and further investments into existing businesses including Coretrax, Ashtead, Payen and East Lothian Developments.
The OneSearch shareholders were advised through the process by lawyers at Dickson Minto.