Electric Business brings you the top news stories in company mergers and acquisitions.
The food manufacturers Wholebake and Deeside Cereals are to merge. The newly combined company will aim to further grow its position in the snack bar and own label cereal markets.
ENSTROGA, Igloo Energy and Symbio Energy have become the latest energy companies to cease trading. Together the suppliers serve less than 1% of domestic customers.
Govia has been stripped of the Southeastern railway franchise by the Government after failing to declare and return £25m of public funding. Govia is a joint venture between Go-Ahead and Keolis. Go-Ahead’s chief financial officer has resigned with immediate effect. Southeastern operates trains across London, Kent and East Sussex and will now be run by the Government’s Operator of Last Resort.
The American private equity firm Vista Equity Partners has bought Blue Prism. The deal values the company at around £1bn. Blue Prism is a designer of robotic process automation software.
Outsourcing specialist Reconomy has bought Advanced Supply Chain Group.
The private equity firm True has acquired a majority stake in the energy drink manufacturer Sneak. Established in 2018, Sneak’s energy products are zero sugar and are available in tubs and sachets, as well as pre-mixed cans.
Two more UK energy companies are to cease trading. Avro Energy supplies gas and electricity to around 580,000 domestic customers, while Green Supplier Limited supplies gas and electricity to around 255,000 domestic customers and a small number of non-domestic customers. Customers of the failed companies will be transferred to a new supplier by the regulator, Ofgem.
Mishcon de Reya and Taylor Vinters have agreed to merge, forming a new company called MDR Taylor Vinters, which will offer legal and consultancy services to innovators and entrepreneurs.
Five of the UK’s smaller energy companies have ceased trading in the last month. Between them Hub Energy, PfP Energy, MoneyPlus Energy, Utility Point and People’s Energy supplied more than 600,000 customers. The energy industry is in turmoil as a result of a massive increase in wholesale global gas prices which the suppliers are unable to pass on to consumers because of the Energy Price Cap. More energy companies are expected to fail in the coming weeks.
London's largest independent plumbing and service company, Pimlico Plumbers, has been acquired by the American company Neighborly.