Balmoral Group, the Aberdeen-based investment firm, is adopting a family office model and moving to new headquarters, formalising a long-standing approach centred on family-led, long-term investment.
The transition to a formal management and governance of family wealth will help consolidate an increasingly diverse portfolio that has expanded to 15 markets and 55 countries.
It follows the group’s sale of Balmoral Comtec, the buoyancy, protection and insultation specialist, to Freudenberg Flow Technologies.
Through the new structure, Balmoral plans to invest more than £50 million in its existing portfolio companies and new opportunities, opening doors to high-growth sectors.
The company, which has roots in engineering and energy, has moved its HQ and 15 staff to Queens Road, Aberdeen.
Sir Jim Milne, chairman, said: “This move marks the next chapter for Balmoral Group as a family office, giving us the structure to take a long-term, family-led approach focused on sustainable growth and meaningful impact.
“It allows us to support the success of our companies while continuing to give back to the communities around us, reflecting the same drive that has shaped Balmoral Group from the start.”
Balmoral Group has evolved into a diverse portfolio of companies ranging from the five-star Marcliffe hotel and Balmoral Business Park to storage solutions provider Balmoral Tanks and Blaze Manufacturing.
The family office will also generate further growth to support the Milne Family Foundation, a charitable trust which donates over £2m a year to more than 60 causes from the promotion of spiritual welfare, community development, to international humanitarian initiatives and is funded by profits from Balmoral’s investments.
Bill Main, group deputy MD, said: “The new family office structure will bring a more focused, efficient approach to stewardship, governance and how we assess opportunities to invest in.
“We’ve always had a culture of commitment and continuity; helping management teams to supporting local charities over many years, so the restructuring formalises the way we’ve already worked for a long time.
“This will help us stay resilient, purpose-led and future-focused for generations to come.”
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