A well-known Angus-based firm of independent financial advisers has been acquired in a multi-million pound deal.
Ferguson Oliver has been rebranded after Chase de Vere acquired the entire share capital of the Brechin-based company for £3.85 million.
Founded in 1989 by Mike Ferguson, who was later joined by his twin brother, Ken, the firm’s reach extends from Perth to Inverness.
The deal has been described as “the perfect springboard” into the north east of Scotland for Chase de Vere, who have 16 offices across the UK.
The firm has now embarked on a recruitment drive for financial advisers.
Stephen Kavanagh, chief executive, Chase de Vere, said: “I’m really pleased that Ferguson Oliver is now fully on-board as part of Chase de Vere.
“I’ve been really keen to grow our business in the North East of Scotland and this gives us the perfect springboard.”
Ken Ferguson and Mike Ferguson are well-known figures in the area, especially in sporting circles.
Ken Ferguson is chairman of Brechin City Football Club, while Mike Ferguson is the owner of Forfar Ice Rink and a keen curler.
Mike Ferguson, founder of Ferguson Oliver, said: “The integration with Chase de Vere has gone remarkably smoothly considering the backdrop of the Coronavirus and with all of our staff working from home.
“I’m delighted that everything is now complete and that we are part of Chase de Vere.”
A spokesman for Chase de Vere said the firm’s focus in Scotland had previously been in Glasgow and the Ferguson Oliver acquisition was part of a long term growth project and would see the firm develop in the north east.
Recruitment at the firm over the next three years would be on “on the basis of quality rather than quantity” the spokesman added.
jimillar@thecourier.co.uk