The UK government has given the go ahead for a £344m expansion programme at London City Airport. 1,600 airport jobs will be created as the airport receives an extended terminal, a new aircraft taxiway and parking spaces for planes. It is estimated that these plans will add £1.5bn to the UK economy by 2025, with the Chancellor of the Exchequer, Philip Hammond, saying that the plans will “boost international connections, strengthening the City of London’s links to destinations across the world, and send a clear signal that Britain is open for business”.
Waterfall Catering Group has been bought by Elior. Waterfall is a contract caterer which specialises in the education, care and welfare markets. It operates through two brands Caterplus (a care specialist) and Taylor Shaw (an education specialist).
PHS Group has agreed to sell its data solutions division to Restore for £83.1m. This division, the second largest provider of document shredding services in the UK, consists of PHS DataShred, PHS Records Management and Capital Capture.
GlaxoSmithKline has announced it is to invest £275m at three of its manufacturing sites in the UK as it looks to increase production and boost exports from the UK. The money will be used to build a new aseptic sterile facility in Barnard Castle, construct a facility for the manufacture of respiratory active ingredients in Montrose, and add new manufacturing capacity to the site in Ware where the Ellipta respiratory inhaler is built. GlaxoSmithKline says it continues to view the UK as an “attractive location for investment” due to the country’s highly skilled workforce, well developed infrastructure, competitive corporate tax rates and the Patent Box, a tax incentive for companies involved in research and development and related manufacturing.
Wolverhampton Wanderers Football Club has been taken over by the Chinese investment group Fosun. The new club representative Mr Jeff Shi says the new owner is aiming to “take Wolves back to the Premier League as soon as possible and to stay there”.
VocaLink has been acquired by Mastercard, in a deal which could be worth up to £869m. VocaLink is a technology company which operates some of the UK’s key payments infrastructure, including BACS (enabling direct credit and direct debit payments between bank accounts), Faster Payments (real-time account-to-account service enabling payments via mobile, internet and telephone) and LINK (the UK’s ATM network). The acquisition improves Mastercard’s position in the electronic payments sector.
The business-critical mailing services company Polestar Applied Solutions has been bought by Adare Group. The deal will see Polestar become part of Adare’s secure and essential communications division.
The global brokerage company BGC Partners has acquired Sunrise Brokers Group. Established in 1991, Sunrise offers broking services covering equity, credit, FX, hybrid and commodity derivative asset classes.
CH&Co Group has added two specialist education brands to its portfolio following its merger with The Brookwood Partnership and ABsolutely Catering. Brookwood provides a fresh food service to nearly 170 schools across the UK. It operates in the publicly funded schools sector under the ABsolutely Catering brand.
The construction firm Dunne Group has gone into administration with the loss of more than 500 jobs. The company’s head office was in Bathgate in West Lothian. Dunne Group had been trading since 2001 and had a turnover of £74m in the last financial year. The 524 redundancies were in Scotland, London and Leeds.