GLASGOW-based Newton Property, one of Scotland’s leading providers of factoring and letting services, is expanding into Aberdeen by merging with Aberdeen-based factor and letting company, Watt & Co.
The merger will see Watt & Co rebranded Newton Property and its founder, Ross Watt, become a shareholder and main board director of the new expanded business.
Ross will continue to run the Aberdeen operation from the Rosemount Place office in Aberdeen and will be an important contributor to further business acquisitions. Ross’s four colleagues will also join the Newton team.
The merger will see an increase in the number of properties managed by Newton Property, taking their factoring stock to 11,000 properties throughout Scotland and the letting stock to above 600 homes.
Commenting, Stephen O’Neill, managing director, Newton Property, says: “Ross and I have enjoyed a close business friendship for the last two years and we are both delighted to be joining forces. There are many similarities between Newton Property and Watt & Co and we have almost identical business philosophies – making us a perfect fit.
“An important part of our decision to merge with Watt & Co was Ross himself. Ross is a great guy and a credit to the north east. He’s a very able strategic businessman and he, and his colleagues, bring a similar corporate personality as well as a wealth of experience to Newton Property.
“This is an exciting time for the property sector in Aberdeen and the ideal time for Newton to move into the North East where the economy is on the up. For a city that is widely reported to be in some sort of recession Aberdeen looks and smells like one of the most successful cities in the UK.
“Ross and I are delighted with this union and are confident that our business will continue to grow throughout the whole of Scotland.“
Ends
For further information or to arrange an interview with Stephen or Ross please contact Jill at Headline PR jill@headlinepr.co.uk or call 07775 862552.
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