Glasgow-based, Cairn Group-owned Factors Direct seals duo of deals marking latest consolidation in sector in Scotland

Scotland’s factoring sector has seen further consolidation with an ambitious Glasgow-based player inking two further acquisitions.

Gemma Waters, managing director of Factors Direct. Picture: contributed.

A Glasgow-based factoring firm is continuing its owner’s acquisitive strategy with two new deals. Factors Direct, which was launched earlier this year by Glasgow-headquartered Cairn Group, has acquired Clyde PM, the factoring arm of estate agent Clyde Property, plus the Scottish arm of Nationspaces Developments that is also based in Scotland’s largest city. Terms of the deals were not disclosed.

The purchases follow Cairn Group last month buying Rannoch Property, the Glasgow-based estate agency offering property management, buying, and selling services. They also mean that Cairn now manages a portfolio of 1,400 units, 200 of which are under house in multiple occupation management, divided between Glasgow and Edinburgh, and they additionally mark the latest stage of its expansion strategy that aims to double its turnover to £3 million and portfolio to 2,500 units under management within the next five years.

Cairn boss David Rowand said: “We’re delighted to secure these two acquisitions which, from a standing start earlier this year, put Factors Direct firmly on the map for dedicated residential property-management services throughout Scotland’s Central Belt. Homeowners in the west of Scotland will be very familiar with Clyde Property, so it is something of a coup to secure its property-management division, while Nationspaces Developments is a long-established firm which is seeking to refocus its operations south of the Border, presenting us with the opportunity to snap up its Scottish arm.”

The acquisitions mean that there are now 220 units under the management of Factors Direct, whose MD Gemma Waters said: “Our goal is to have a positive impact on the central Scotland property factoring market, and give owners direct input into the management of their building. These deals will enable us to do just that. Although Factors Direct was only established this year, our management team has over two decades of experience in owning, operating, and managing residential properties across the Central Belt.”

Recent years have seen Cairn, which has 25 staff, acquire JJM Properties in Glasgow, Grange Letting in Edinburgh, and Stephen McIntyre Letting in Portobello, all of which have since been rebranded under the parent company’s name. Other sector deals include Strathspey Capital acquiring Glasgow’s Speirs Gumley this summer.