Sir James Milne CBE, one of the North-east of Scotland’s most successful businessmen and philanthropists, has died aged 85.
The founder and chairman of Balmoral Group passed away peacefully at home on Tuesday, November 10, surrounded by his family.
Sir Jim, who was knighted in 2022 for services to business and charity, built an international business empire from humble beginnings in Aberdeen, while dedicating much of his life to supporting charitable causes across the region.
Born at the Home Farm of Tullos in December 1940, the youngest of nine children, he left school at 14 with no qualifications before beginning his career in agricultural engineering.
He established his first glassfibre business in the 1960s, before founding Balmoral Group in September 1980 with just four employees.
The company went on to become a world leader in deepwater buoyancy technology, securing major international contracts and three Queen’s Awards for International Trade.
Today, the family investment office has interests across more than 15 markets, delivering solutions to over 55 countries, and was recently recognised as one of Scotland's fastest-growing businesses.
Sir Jim was also one of the region’s most prominent philanthropists, co-founding Friends of ANCHOR in 1997 and serving as its chairman.
The charity supports people affected by cancer and blood disorders across the North-east, with Balmoral Group covering its fundraising costs to ensure every penny donated goes directly to the cause.
He also established the Milne Family Foundation, which provides more than £2million annually to over 60 charitable partners.
In a statement announcing his death, Balmoral Group said: "Jim passed peacefully at home surrounded by his family on the 10th of November 2026.
"It is hard to put into words his profound impact on not only Balmoral Group, but the North East of Scotland as a whole.
"Driven by a deep love of Aberdeen and immense pride in putting the city on the global map, Sir Jim built Balmoral into a renowned global leader across multiple markets and, as co-founder and chairman of Friends of ANCHOR, made a lasting, positive impact on the lives of thousands of people across the north of Scotland affected by cancer or a blood disorder."
The group said his values would continue to shape the business and its commitment to the region.
"His vision, loyalty to his people, enthusiasm and, most of all, sheer hard work are some of the many reasons we stand here today, and they will continue to guide Balmoral Group."
It added: "While we mourn the loss of this inspirational and beloved man, our immediate focus is on celebrating his life and supporting our people. We will continue to invest in high-potential businesses and reinvest in community and charitable initiatives, ensuring our success delivers meaningful and lasting social impact. Sir Jim wouldn't want anything less."
Sir Jim is survived by his wife, Lady Milne, his four children, Sarah-Jane, Caroline, Cameron and Ewan, and five grandchildren.
His funeral will be held privately, with details of how people can share condolences and memories with the family to be announced.
The family has requested no flowers, instead encouraging donations to Friends of ANCHOR.