The private equity firm Sovereign Capital has created the UK’s largest group providing accounting services to the Contractor and SME markets with the acquisition of SJD Accountancy and Nixon Williams for £100m. The businesses will operate independently under their respective brands within the new group structure.
The Co-operative Group has sold Sunwin Services Group to Cardtronics for £41.5m. Sunwin is a provider of a range of ATM management services. The private equity firm Endless has backed the management buyout of the flooring accessories manufacturer Gradus. Vodafone has acquired a 72.7% stake in the Greek broadband provider Hellas Online. The £58m deal creates a unified provider of fixed line and mobile communications. office2office, a provider of business services, has agreed to be acquired by the private equity firm Endless. The PR and communications agency Van Communications has been acquired
click here for Mergers and acquisitions 2008-2013 Tesco has reduced its profit forecast following the discovery of an error in its accounts that overstated the group’s profits for the first six months of the year by £250m. Tesco has asked Deloitte to undertake an independent and comprehensive review of its accounts. Four of Tesco’s most senior employees have been suspended pending the result of the review. GlaxoSmithKline has been fined £297m by the Chinese authorities for bribing doctors in the country. GlaxoSmithKline has published a statement of apology to the Chinese government and its