Souter Investments is delighted to announce the sale of its controlling stake in OneSearch Direct (“OneSearch”), a leading provider of property information and conveyancing solutions to solicitors and other customers throughout England and Wales.
Souter Investments first invested in OneSearch in 2007 and despite the challenges caused by several regulatory changes and recent fluctuations in property volumes, OneSearch has developed an extensive range of innovative products, datasets and specialist local search knowledge, making it one of the premier local search data companies in the UK.
The OneSearch management team were led by Managing Director, Liz Jarvis; Chairman, Marcus Noble; and Finance Director, Stuart Mitchell.
The sale of the business to Landmark Information Group (“Landmark”), owned by Daily Mail and General Trust plc (“DMGT”), was a natural fit given the respective strengths of both groups.
Liz Jarvis, 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 from 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 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.
We wish everyone at OneSearch all the best in the future under its new ownership structure.”
The OneSearch shareholders were legally advised through the process by Dickson Minto.
About Souter Investments
Souter Investments is the family investment office of Sir Brian Souter, co-founder, former CEO and Chairman and current non-executive director of Stagecoach Group plc. It makes investments across a broad range of asset classes, with a primary focus on private equity and a portfolio of more than 25 direct private equity investments.
For more details please visit www.souterinvestments.com.
For Souter Investments press enquiries please contact Gordon Beattie at Beattie Communications on 0800 612 9890.