Rotala plc has acquired Stourbridge-based bus company Hanson’s. Rotala is the second largest bus operator in the West Midlands and South West, under contract with both local authorities and commercial bus routes.
YorkTest Laboratories has completed a management buyout with backing from Key Capital Partners. The private equity house has secured a majority stake in the business for an investment of £8m. YorkTest Laboratories specialises in food intolerance research and provides a number of dietary change products for consumers, including a DIY blood sample kit.
Automotive components and parts supplier BorgWarner has agreed to acquire Sevcon, a UK-based provider of electrification technologies. The acquisition slots into BorgWarner’s strategy of supplying leading technology for all types of propulsion systems – combustion, hybrid and electric. The company estimates the value of the transaction at closing will be around $200m (£156m).
Private equity house Endless has announced that it has backed an MBO at luggage specialist Antler. Founded in Birmingham over a century ago, Antler has 32 retail locations across the UK, employs 280 people and turns over £35m. Its sale marks a substantial exit for LDC, which bought the business in a £15m pre-pack administration deal in 2010.
Newcastle-based construction firm Northern Bear has acquired H Peel & Sons for £2.9m. H Peel is an interiors and fit-out business specialising in the hotel and leisure sectors, which generated turnover of £5.4m in the year until August 2016.
Medtech company Surgical Innovations Group has announced the proposed acquisition of Elemental Healthcare. Elemental is a leading supplier of specialist, high quality surgical devices to the NHS and UK private hospital groups and has been Surgical Innovations’ exclusive distributor since 2007. The deal is worth approximately £5.5m and provides SI with a direct route to the UK market.
530 jobs have been saved at Handmade Burger Co with its sale out of administration to an unnamed buyer. The business announced the closure of 9 of its 29 restaurants and redundancy for 163 staff earlier in July.
Tilemaster Adhesives has been acquired by Kerakoll, an Italian manufacturer of green construction solutions. Tilemaster’s management will remain in place and continue business as usual. The acquisition establishes Kerakoll as a market leader in the UK tiling and flooring industry and provides it with a platform for further expansion. Over the coming years the company intends to invest £30m to expand its product plant in Leyland and identify an additional production site, as well as construct a new research and development centre.
Sage Group has made its largest ever acquisition with the purchase of Intacct, a leading provider of cloud financial management solutions in North America. Intacct’s software is targeted at growing businesses, providing financial and operational insight, process automation, and a modern user experience. The £654m deal significantly strengthens Sage’s position in North America, which represents over half of the company’s addressable market.
Tissue Regenix has agreed to acquire CellRight Technologies, a US-based regenerative medicine business that specialises in human tissue and soft tissue products for clinical applications in spine, dental, sports medicine and general surgery. The deal, worth up to £23m, will be funded through the placing of 400m shares with both new and existing institutional investors, which will raise £40m. The money left over will be invested in the company’s objective of achieving profitability by 2020.