Arden Property Management has acquired Smart Property’s lettings division, broadening its portfolio and service.

The expanded agency will operate under the Arden Property Management name in the Edinburgh and Lothian area, with no disruption to the existing service.

Catriona Smith, senior partner at Arden, said:  “This is a big and exciting step for us – not just in terms of growth, but in how we can support our clients.”

Kat Usher, previously director at Smart Property, has joined Arden’s leadership team as a partner, bringing her team with her.

As part of the transition, Phil Nugent, who co-founded and led Smart Property alongside Kat for over 25 years, will be stepping back from day-to-day operations to focus on other business ventures. 

Ms Usher said: “Joining forces with Arden felt like a natural next step. I’ve known Catriona for many years and always admired the way she runs things.” 

Entrepreneur acquires floral accessories supplier

Scottish Everlastings, a supplier of artificial floral and home accessories, has been acquired by entrepreneur Edd Salter in a deal worth more than £2.3 million through his investment company, Heronshaw Group.

Following the acquisition, Mr Salter becomes chairman and support its next phase of growth, with a particular focus on international expansion, including key European markets.

The Fife-based business, founded 40 years ago, has a warehouse in Fife, and an office in Hong Kong.

HSBC provided a funding package for the deal.

Mr Salter said: “Scottish Everlastings has exceptional growth potential, driven by the talent and dedication of its team. Having worked with HSBC UK on previous ventures, I’m pleased to continue that relationship as we pursue international expansion and strengthen our position in the market.”

Quest Corporate acted as corporate finance adviser on the transaction. Hood Corporate provided legal counsel to Heronshaw Group, while Shaw Gibbs provided financial and tax due diligence and transaction advisory.