Digital communications group Next 15 has bought Charterhouse Research, a leading financial market research consultancy, from MIG Global. The £2.75m acquisition will combine with Next 15’s deep data and insight capability to improve its offering to the financial services industry.
Imagination Technologies has agreed to a takeover by Canyon Bridge Capital Partners in a deal worth in excess of £500m. The agreed price of 182p per share is a 42% premium on Imagination’s closing price on Friday 22 September. The deal comes six months after Apple announced that it would no longer use Imagination’s mobile graphics components, sparking a crisis at the company that saw its share price halve overnight. Imagination has signalled its intent to expand into Asia, where “its technology platform will lead the continued globalization of British-developed innovation.”
Aprirose has bought QHotels for £525m from Bain Capital Credit and Canyon Partners, bringing its portfolio of assets under management to around £1.7bn. QHotels is the owner of 26 four star hotels adding up to 3,650 bedrooms across the UK. Aprirose has appointed Redefine BDL to manage the hotels.
The Marcura Group, a Dubai-based group of companies specialising in the maritime industry, has bought the UK companies G-Ports and Falmor. G-Ports specialises in port, congestion and commodity tracking data while Falmor is a SaaS-based cloud platform for laytime/demurrage management and collaboration. Simon Francis, the CEO of both companies, has joined Marcura as the Group Director for Business Development of its Digital Chartering Services division.
MRI Software has acquired Real Asset Management (RAM), a supplier of asset management software. MRI Software is a global leader in real estate solutions, an industry with similar compliance and regulatory responsibilities to RAM’s own sector. This deal cements MRI’s existing relationship with the business and allows it to leverage its expertise to create a comprehensive, integrated solution for its clients in real estate and other heretofore unexplored markets.
Northridge Finance, the Bank of Ireland’s UK asset finance business, has acquired Marshall Leasing from Marshall Motor Holdings for £42.5m. Marshall Leasing operates a fleet of over 6,000 vehicles which it supplies primarily to the SME sector on a contractor and daily basis. Northridge will pay Marshall Leasing’s parent company a further one-off fee of €500,000 for use of the Marshall brand name for five years. Marshall Motor Holdings will use the move to focus on its retail network of franchised car dealerships instead.
Law firms Bond Dickinson and Womble Carlyle have completed a transatlantic merger. Womble Bond Dickinson will invest in both its UK and US practices, with each able to better meet the international needs of clients through alliances and referral networks they can use to target jurisdictions worldwide. Altogether the company is a global top 100 law firm with 24 offices, 400 partners and 1,000 lawyers. The company’s combined revenues exceed £340m.
AIM-quoted asset management group Impax has entered into talks to acquire Pax World Management, a deal that would bring together £10.3bn of assets under management. Impax and Pax have collaborated since 2007 in the design and management of the Pax Global Environmental Markets Fund, which has net assets of around half a billion dollars. Impax has offered $52.5m for Pax, with another $37.5m in additional payments scheduled depending on its performance.
London has become the latest city to take action against the “gig economy” with the announcement that Transport for London (TfL) will not renew Uber’s private hire operator licence when it expires on 30 September 2017. TfL stated that Uber “is not fit and proper” and expressed concerns about its approach to serious criminal offences, medical certificates, enhanced disclosure and barring service checks, and the use of software which could block law enforcement access to the Uber app. Uber has 21 days to appeal the decision and can continue to operate in London until this process is complete.
Avingtrans has completed a reverse takeover of fellow AIM-listed engineering company Hayward Tyler Group, a manufacturer of motors and pumps for the energy industry. HTG’s reputation is founded on its work in the nuclear and oil and gas sectors; Avingtrans hopes that the acquisition will enable it to make inroads into the Chinese nuclear energy market. The £50m deal creates a global business with over 750 employees and a turnover of approximately £90m per annum.