First Scottish Group, a Souter Investments portfolio company, has completed the sale of the trade and assets of two subsidiaries, Legal Post and First Post to DX, the independent parcels, mail and logistics operator.
First Scottish Group is Scotland’s leading independent firm of professional searchers, delivering a comprehensive suite of fast and accurate search services. Best known for its title and property searching, First Scottish also offers other searching services in areas such as plans support, title investigation and title rectification, environmental reports and mining reports.
In addition, through First Scottish Document Management, the Group provides intelligent business management solutions to help streamline processes, increase accessibility to business critical information and reduce storage costs.
Ian Fraser, Group Managing Director of First Scottish Group, commented: “The DX, Legal Post and First Post businesses are wholly complementary and they will be stronger together, increasing the number of members in a single Scottish exchange network and providing access for Legal Post’s members to DX’s existing members in England, Wales and Ireland.”
He added: “At First Scottish Group, we will continue to focus on developing our core search and document management operations. The sale of the non-core postal businesses will allow us to continue to invest in new, market leading products and added value services, such as our Title Rectification Service and recently launched Plans Support Service. We will also continue to invest in new and improved technology designed to meet the changing needs of our clients’ businesses.”
John Berthinussen, Investment Director at Souter Investments, commented: “We continue to be excited by the development of First Scottish Group, and its progress since our initial investment in 2009. The disposal of Legal Post and First Post will allow the team to focus even more intently on developing its market leading searching business, First Scottish Searching Services, and growing First Scottish Document Management.”
About Souter Investments
Souter Investments is the family investment office of Sir Brian Souter, co-founder and Chairman of Stagecoach Group plc. Souter Investments makes investments across a broad range of asset classes, with a primary focus on private equity. Transport investments are made by Souter Investments’ sister company, Highland Global Transport.
In addition to First Scottish Group, Souter Investments unquoted holdings include stakes in Baywater Healthcare, a leading homecare provider; Clive Christian, the luxury perfume and furniture manufacturer; Mobius Life, a specialist investment administration platform authorised and unit-linked UK life insurance company; Ashtead, a worldwide rental provider of subsea inspection, maintenance and repair equipment and solutions to the offshore oil and gas industry; Amerplast, a Finnish specialist flexible packaging manufacturer; and Voyage Care, a leading provider of support for people with learning difficulties, associated physical disabilities and complex needs.
Transport investments include New Zealand based urban bus operators Mana Coach Services, Howick and Eastern Buses and Reesby’s Rotorua; Auckland based ferry businesses Fullers Group and 360 Discovery; and long-distance express coach operators ManaBus.com and nakedbus.com. In Europe, Highland Global Transport holds stakes in intercity express coach operators PolskiBus.com, OnniBus.com and SuperBus.com, Turkish ferry operator, IDO Istanbul Deniz Otobüsleri, and in leading international bus and coach manufacturer Alexander Dennis.
Recent exits include the sale of Baywater Healthcare Ireland to a trade acquirer and CJ Fallon, one of Ireland’s leading educational publishers. Souter Investments has also exited luxury yacht manufacturer Sunseeker, which was sold to Chinese conglomerate Dalian Wanda; general insurer The esure Group, which completed an IPO on the London Stock Exchange; and biofuel manufacturer Argent Energy, which was sold to John Swire & Sons (Green Investments).
For more information please visit:
For FSG media enquiries to Ian Fraser, Group Managing Director, First Scottish Group, on 01383 826777.