Simpson & Marwick snaps up Alston Law
Simpson & Marwick has added Glasgow practice Alston Law to its brand, as it begins an ambitious expansion programme across Scotland.
The Edinburgh based residential property practice, now the legal arm of Rob Aberdein's Moray Group of professional services practices, is intended by the group to become the brand for an expanding business, and this is its first acquisition to further that aim.
Alston Law is best known for its lender services, in particular remortgages and debt and asset recovery, which it provides almost exclusively to FCA-regulated companies in the financial sector. Its specialisms include litigation to recover loans, commercial debt and assets including property. It also has extensive experience in the asset and motor finance recovery sector.
In addition, Simpson & Marwick will acquire support staff and systems, including HR, finance, marketing and IT, which it intends to use as the foundations for further growth.
Managing partner Rob Aberdein described the acquisition as "a crucial 'next piece in the jigsaw'. Alston Law’s 6,000 sq ft office on Glasgow’s Renfield Street will become our national headquarters, a central operations hub and an engine room for our growth".
The Alston Law brand will continue for all litigation and debt recovery services; however all property and conveyancing services, including remortgages, will now be part of Simpson & Marwick.
The combined businesses have a turnover of £5m and will give Simpson & Marwick a head count of over 70. Denise Loney, the outgoing managing director of Alston Law, will remain as a director with Simpson & Marwick.
Mr Aberdein observed: "We know the lender services sector well. This is a tremendous opportunity to develop an area where we have the technology, understand regulatory compliance and where both customer service and specialist knowledge are coveted by clients."
He added: "We understand the sensitivities that are particular to the Alston Law client base. Our first job has been to meet with clients and reassure them that they will continue to see the same outstanding levels of service and expertise. Indeed, we plan to invest in enhancing the service they receive."
Ms Loney said: "We’re incredibly proud of the team and what they have achieved. Becoming part of a firm like Simpson & Marwick is the ideal way to start the next, exciting chapter for the firm and I have no doubt that everyone involved will go on to enjoy considerable success."