Firm acquires company founded by well-known football figure

The Herald Scotland

02-05-2025

EQ Accountants said the acquisition of Edinburgh-based firm McDonald Gordon & Co is a "significant milestone" in its plan to triple turnover from £11 million to £30m over the next four years.
It said the move strengthens EQ's presence in the Central Belt, a key area of focus in the firm's wider growth strategy.
McDonald Gordon & Co was established in 1980 by Ian McDonald and the late Alan Gordon, described as "a well-known figure both in business and Scottish football, having played for Hibernian FC and Heart of Midlothian". In 1994, Raymond Paterson and Brian Duffy took the reins and have since built a successful business "with a strong reputation for client service and a proven track record" in supporting the growth of family-owned businesses in the SME sector.
The 15-strong team's focus on supporting family-run and entrepreneurial businesses "fits seamlessly with EQ's mission to be Scotland's leading adviser to the SME sector".
Dougy Agnew, Michelle Murray, Hazel Burt and Ged McLaughlin. (Image: Chris Scott) Craig Nicol, chief executive of EQ Accountants, said: 'Bringing McDonald Gordon & Co into EQ is a considered and strategic move that reflects our ongoing commitment to supporting Scotland's SME sector. Their long-standing reputation, loyal client base and shared values make them an ideal fit. This partnership enhances our reach across Central Scotland and ensures more business owners have access to the depth of expertise and resource EQ can offer.'
Raymond Paterson, director at McDonald Gordon & Co, said: 'We took our time in choosing the right partner for the next chapter of our business. EQ stood out as a major player in the SME space, with values that align strongly with our own. Joining EQ gives us access to greater resources, specialist knowledge and the backing of a larger team, all of which will benefit our clients immensely.'
Brian Duffy, director at McDonald Gordon & Co, said: 'This move isn't just about scale, it's about shared vision. EQ has the infrastructure and investment behind it to help us do even more for our clients, while preserving the close, personal service we've always delivered. We're excited about what's next.'
The firm has strengthened its leadership team with the appointment of four new partners. Michelle Murray has been promoted from principal manager to partner, Ged McLaughlin joins EQ to focus on corporate finance, Dougy Agnew joins the team to specialise in corporate tax and Hazel Burt brings a dual focus on personal tax compliance and consultancy.
Royal Bank of Scotland owner NatWest plays down Trump effect
Royal Bank of Scotland owner NatWest Group has raised its profit guidance against a backdrop of uncertainty in the global economy, as it downplayed the impact of Trump tariffs on the lender.
The bank, which is on the cusp of a return to full private ownership following its £45.5 billion bail-out during the financial crisis, signalled its expectation that profits for this year will come in at the upper end of guidance.
That came as NatWest reported an operating profit before tax of £1.8 billion for the three months ended March 31, ahead of market expectations and up from £1.3bn last year.
Chief executive Paul Thwaite declared it had been a 'strong start to the year, further demonstrating the positive momentum' being built up by the bank, which he said 'reinforces the confidence we have in our future performance'.
AROUND THE GREENS ⛳
For the love of golf's hickory history
This article appears as part of Kristy Dorsey's Around the Greens series
Previously employed in the financial services sector, Stuart Fraser set up his artisan clubmaking business as part-time gig during the Covid lockdowns and gave up his day job in November 2023 after finding a permanent home for the operation.
The Hickory Golf Workshop is now celebrating its first anniversary, having restored more than 500 clubs to their former glory. It is opening the 2025 season with a new hickory-era golf ball making experience, along with the addition of traditional plus fours and bunnets for visitors to try on.
Mr Fraser describes the workshop experience as a combination of "Scottish history, traditional craftsmanship, and storytelling with the chance to handle and play with authentic hickory-shafted clubs".