James Gibb acquires residential factoring arm of Dundee based J Reavley.
Major factoring organisation James Gibb residential factors has acquired the residential factoring division of Dundee-based J Reavley Factoring Limited. This acquisition of 1400 units, grows the number of properties currently under management at James Gibb to well over 50,000 units.
James Gibb has an already well-established presence in the Dundee, Tayside and Fife area with a regional office based in Dundee. This latest acquisition means James Gibb will again recruit locally to further expand its existing staffing level in the city, whilst also doubling its office accommodation footprint.
David Reid, CEO of James Gibb said, ‘This acquisition is a huge step towards achieving our objective to ensure our customer base has a local presence in all major cities in Scotland, whilst also creating employment in a tough economic climate.
We have spent the past number of years investing in systems and process developments to ensure we provide the highest levels of service to our customers. We continue to build our service proposition; provide a culture of high value to our customers and teams and create genuine competition and differentiation in the marketplace. With a focus on digital communication coupled with localised knowledge and operational experience, we remain fully enabled to build upon our already exemplary customer service delivery model.’
Jack Reavley, Managing Director J Reavley Factoring added, ‘We are pleased to have completed this disposal to James Gibb, leaders in the residential property factoring arena. It was important to J Reavley Factoring that the portfolio transferred to a manager of real quality to the benefit of the developments we factored. It will assist in bringing investment and more employment opportunity in the area. We will now focus on delivering our service in our lettings business.’
David Reid went on to say, ‘This acquisition marks another milestone in the development of the James Gibb portfolio, which has grown some1200% plus over the past ten years, since its acquisition by parent company, Strathspey Capital. James Gibb is seeking further growth opportunities through acquisition, including setting its sights on key cities in England, such as Birmingham and Manchester.
Using the knowledge and experience we have in our business and the investment level we have as an organisation; we can add efficiencies to incoming businesses while improving service and delivery. In this challenging global climate, we can offer opportunity for people and organisations within the property management and factoring industry.’
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