New owners for Moffat services

A LONG-standing family business in Moffat has entered a new chapter.

The town’s Benmar Services, in Station Road, which incorporates a Post Office branch, was established by Jamie Wood in 1998.

Now, after three decades, he has decided to retire and sold it to Grove Retail Limited, along with three sister sites in Dumfries, Newton Stewart, and St John’s Town of Dalry.

Jamie has dedicated his career to growing the St Michael’s Services business from the original site in Dumfries to a highly-profitable and well-invested enterprise operating across multiple locations.

Making the decision to retire, Jamie sought a buyer who would uphold the company’s values and strong reputation and continue its growth trajectory. His priority was to ensure continuity for employees and customers while safeguarding the legacy he had built.

Grove Retail Limited, which operates a network of sites across the UK, has committed to maintaining those high standards and investing in future development.

Jamie said: “While I’m sad to be moving on from the business after so many years, and will definitely miss the contact with colleagues and customers, many of whom I have known since day one, I’m thrilled that it will continue to thrive under new ownership.

“For me, finding the right buyer was important and Grove Retail was the perfect fit.”

He was helped with the sale by Armstrong Watson’s corporate finance team and legal advisers from Morton Fraser MacRoberts, managing to complete the deal ahead of the rise in Capital Gain Tax rate for Business Asset Disposal relief.

Corporate finance partner David Wilson said: “We’re delighted to have advised and supported Jamie to sell the business and achieve his retirement goals. His dedication has helped grow St Michael’s Services into a highly successful business with a strong future ahead following this acquisition.”