Man­age­ment to buy United Auc­tions

The Oban Times - - Farming -

A MAN­AGE­MENT con­sor­tium has agreed terms to ac­quire the en­tire is­sued share capital of United Auc­tions, Scot­land’s lead­ing live­stock auc­tion­eers, for an undis­closed sum.

The deal in­cludes all auc­tion mar­kets within the group, in­clud­ing the prop­erty hold­ing at Stir­ling Agri­cul­tural Cen­tre.

The seven-strong team – com­pris­ing Ge­orge Purves, John Roberts, Christo­pher Sharp and Don­ald Young, backed by fel­low di­rec­tors David Brown, Don­ald Mor­ri­son and Matt Steven­son – as­sum­ing op­er­a­tional re­spon­si­bil­ity for the busi­ness was an­nounced in Au­gust 2016 as part of the group’s suc­ces­sion plan­ning pro­gramme.

Ge­orge Purves, man­ag­ing di­rec­tor of United Auc­tions, said: ‘This is a big step in the evo­lu­tion and con­tin­ued planned pro­gres­sion of the com­pany and we are deeply proud to be shar­ing the re­spon­si­bil­ity of tak­ing the busi­ness for­ward for the next gen­er­a­tion.’

For­mer own­ers Robin Tough, Neil McLean and David Leg­gat, who stood down from the man­age­ment team in De­cem­ber, will each con­tinue to have non- ex­ec­u­tive, ad­vi­sory roles with the com­pany.

Out­go­ing ex­ec­u­tive chair­man David Leg­gat said: ‘ We feel that this is the right time for us to take a step back and al­low the next gen­er­a­tion to take the busi­ness for­ward. We have the ut­most faith and be­lief that the next team will con­tinue to build upon the foun­da­tions and suc­cess the busi­ness has had to date.’

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