First Scottish acquired by US concern

First Scottish Group, which provides searches and reports for solicitors and others, has been acquired by Eli Global, a multinational corporation based in North Carolina, USA.

Founded less than 30 years ago, Eli Global now provides information and financial services through more than 130 businesses in North America, Europe, India, South East Asia and Australia. It has now bought First Scottish for an undisclosed sum

First Scottish said the existing management team "will continue to manage the business and provide the high level of service for which we are renowned". Managing director Ian Fraser commented: "Having enjoyed a long period under Souter Investments’ ownership, during which First Scottish has gone from strength to strength, we are enthusiastic about our new relationship with our new owners, whose outlook and approach is very much aligned with our goals.

"We are committed to retaining the identity and culture of First Scottish, recognising the strength of the company’s reputation, our market leading offering, and the calibre of our team."