Central belt move
ANM Group acquires auction firm Sweeney Kincaid
ANM Group has acquired the Glasgow-based auction business Sweeney Kincaid, a provider of auction and valuation services for commercial, industrial, and business assets.
Established in 1991 and located in Hillington Business Park, Sweeney Kincaid will become an ANM subsidiary, retaining all its employees, with managing director Russell Kincaid continuing in his role.
The acquisition is seen as an opportunity for Aberdeen-based ANM to open routes to market across the central belt, as well as into the south of Scotland and the north of England.
ANM is now one of the largest producer-owned farming, food and finance businesses in Scotland. From its base at Thainstone in Aberdeenshire, the co-operative provides a range of business support services, including the services of auctioneers and valuers.
The deal, for an undisclosed sum, includes the six-acre site at Hillington, with its 6,000 sq ft of buildings and modular office space.
Grant Rogerson, chief executive of ANM Group, said: “Sweeney Kincaid brings a wealth of experience and trading knowledge within the industrial asset sector across the UK.”
Mr Kincaid added: “The union of Sweeney Kincaid and ANM brings together two industry leaders, combining their strengths and resources to create a powerhouse in the industrial auction and business asset valuation sector; now the largest in Scotland.
“This strategic move not only strengthens our market position, but also enhances our ability to take on the largest assignments.”