Electric Business

A brief summary of business news to keep you informed on company start-ups, corporate downsizing and mergers and acquisitions.

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Tenzing backs MBO at internet security specialist Smoothwall

Cybersecurity and software development business Smoothwall has completed an MBO with backing from private equity firm Tenzing. Tenzing is an independent private equity investor that targets buyout investments in high organic growth UK SMEs. Smoothwall specialises in dynamic web filtering technology for the education and public sectors, using real-time content aware analysis to block inappropriate and harmful websites. Ex-COO Michael Marks has led the deal and taken on the role of Group CEO.

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NWC secures £1.5m investment for Reflekt acquisition

Nationwide Window Cleaning has received £1.5m of investment from BGF to support its acquisition of Reflekt Cleaning Company. NWC has seen revenues increase from £7.5m to £14m since BGF’s first investment in 2014, becoming the largest window, gutter and high-level cleaning business in the UK. NWC’s clients include the British Museum, Heathrow Terminal 5, RBS and Sainsbury’s. The acquisition of Reflekt grows this portfolio with other big names that include the BBC, Cadbury, Exxon Mobil and Merck Sharpe & Dohme. Reflekt’s operations are primarily based in the Midlands.

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Siegwerk splashes out on Van Son Liquids

Siegwerk has acquired Van Son Liquids, a manufacturer of high-quality water-based flexo and gravure printing inks. Van Son Liquids will be renamed Siegwerk Hilversum and transfer the entirety of its technical expertise, product portfolio and manufacturing equipment to Siegwerk. The Aquabase+ brand will remain unchanged. Siegwerk employs around 5,000 people in more than 30 countries and is headquartered in Siegburg near Cologne. It has two offices in the UK.

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P2 Consulting and Certeco to merge

Project and programme management consultancy P2 Consulting has announced that it is to merge with Certeco, one of the UK’s largest business change specialists. The deal has been backed by Lonsdale Capital Partners which funded an MBO of P2 in December 2016, and closely follows P2’s acquisition of financial crime consulting firm FS101. The rationale behind the merger is to create a firm with the breadth of expertise and capacity to challenge the established ‘Top Tier’ consultancies with a service spanning the transformation lifecycle of blue-chip clients. The combined company’s capabilities will encompass portfolio and programme assurance, project and programme delivery, business architecture and design, testing and quality assurance, and implementation.

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PSAV gets show on the road with Hawthorn acquisition

Event technology services provider PSAV has acquired Hawthorn Theatrical, one of the UK’s largest live event production companies. Hawthorn offers a suite of services that includes creative design, production, lighting, audio, video, staging, power distribution and rigging services. The addition of its talented creative team, technical resources and customer-focused delivery model will strengthen PSAV’s presence in the UK.

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ST Telemedia takes full control of VIRTUS Data Centres

ST Telemedia Global Data Centres (STT GDC) has taken full control of VIRTUS Data Centres, increasing on the 49% stake it acquired in 2015. In two years VIRTUS has doubled its number of colocation facilities from two to four and announced plans to create London’s largest data centre campus with two new sites near Stockley Park.

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BTG buys Roxwood Medical

Global specialist healthcare provider BTG plc has announced that it has acquired Roxwood Medical, a provider of advanced cardiovascular specialty catheters. The bolt-on acquisition strengthens BTG’s offering in the interventional vascular niche and will be offered through its existing EKOS sales force. BTG will pay $80m in cash for Roxwood, $15m of which will be paid on the condition of meeting certain commercial targets.

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SieMatic Group acquired by China’s Nison Group

China’s Nison Group has bought a majority stake in SieMatic Group, a world-leading manufacturer of premium kitchen furniture. The deal provides the German manufacturer with a direct route to the Asian market, where it sees the potential for growth. Headquartered in Suzhou, Nison Group is a leader in domestic appliances in China and generated global sales topping $900m in 2016. SieMatic has three sites in the UK.

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Erskine Murray acquires Offley Insurance Services

Erskine Murray has acquired its Cheshire-based firm Offley Insurance Services. The move is part of Erskine Murray’s strategy to boost its regional presence across the UK over the next three years. Offley Insurance has a good reputation in the North West and will retain its management team and brand for the short term.

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Heads & All Threads bought by American SCM business

ParkOhio, a US supply chain management specialist, has bought Heads & All Threads, based in Birmingham. Founded in 1986, HAT specialises in developing vendor-managed inventory programs of fasteners, machined parts and other class C components to end markets including automotive, construction and EMS. It has operations in the Czech Republic, India, Poland and the UK.

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