For many founders, owner-managers and long-standing business leaders, the question is not whether to step back, but how to do so in a way that protects the business they have helped to build and grow.
This case study highlights how Phenna Group supports leadership succession through continuity, working in partnership with experienced management teams to deliver smooth, well-planned transitions that maintain stability for employees, customers and investors alike.
Business background
First Scottish Group (FSG) is a long-established provider of professional searching and document management services in Scotland. The business has evolved over several decades, supported by a highly experienced senior management team with deep sector knowledge and long tenure within the organisation.
FSG joined Phenna Group at a point where leadership depth and succession capability were already well established.
A planned transition
At the time of Phenna’s investment, the business's leadership continuity was a key strength. Managing Director Ian Fraser had joined FSG in 2010 and remained in post for a further six years following the acquisition, providing stability and a long, structured transition period.
Alongside Ian, senior leaders Lorna Innes and Sam Burton had been integral to the business for many years and were well-positioned to take on future leadership responsibilities. This depth of experience meant that succession was viewed as a planned evolution rather than a point of risk.
Phenna's role
Phenna Group's approach was to actively support and validate the existing leadership and succession strategy. Rather than imposing a fixed structure, Phenna allowed the FSG senior management team to shape the future leadership model they believed was right for the business.
Phenna remained available in the background for advice and support where needed, working in close partnership with the senior management team to agree and support a handover approach that preserved continuity, culture and operational effectiveness.
This trust-based approach gave confidence to staff and customers alike, ensuring the transition was well understood and calmly executed.
Leadership transition and performance
Ian Fraser retired in December 2024 after 14 years with the business. The leadership transitioned smoothly to Lorna Innes and Sam Burton as Joint Managing Directors, reflecting their complementary skill sets and deep collective experience across the business's operational and commercial aspects. Both of whom were already well-known to customers, partners, and employees.
The transition was delivered without disruption. In the first full year following the leadership change, the business exceeded budget and continued to operate on a "business as usual" basis for staff and customers.
Since the transition, the new leadership team has refreshed the senior management structure, bringing through new managers and increasing engagement across the wider team, while retaining the experience and knowledge of long-standing staff.
A proven succession model
First Scottish Group demonstrates how leadership succession within Phenna Group is planned, supported and proven.
By backing experienced management teams and allowing leadership structures to evolve naturally, Phenna enables founders and long-standing senior leaders to step back with confidence, knowing the business remains in safe hands.
Lorna Innes
Joint Managing Director
Lorna Innes
Joint Managing Director
Sam Burton
Joint Managing Director
Sam Burton
Joint Managing Director