Barnsdales buys Swift & Co

Building on its acquisition of Bridge Property Management in September, Barnsdales has taken on the business of Swift & Co. Founded over 80 years ago, Swift & Co covers a range of agency, professional and property management work, including a ground rent portfolio of over 900 properties. Its five employees will transfer to Barnsdales’ office in Sheffield’s city centre, bringing the firm’s total headcount to 45 staff.

Hendy Group acquires two dealerships in Hampshire

South coast automotive group Hendy has bought Seward Group. Including two dealerships in Portsmouth and Havant, the acquisition consolidates Hendy’s already strong footprint in the region. It now has 57 franchise outlets in 30 locations, and employs in excess of 1,000 people.

Visa to buy UK fintech firm for £198m

American financial services corporation Visa has agreed to buy Earthport for £198m. Headquartered in London, Earthport is a cross-border payment processing business and partner of tech company Ripple. Visa has offered 30p per share, a premium of over four times Earthport’s closing price prior to the announcement.

Farfetch acquires Stadium Goods for $250m

In its first major deal since going public in September, Farfetch has agreed to buy streetwear marketplace business Stadium Goods in a deal that values it at $250m. The London-based e-commerce platform has been partnered with Stadium Goods in a distribution deal since April 2018; this deal will make its full inventory of luxury trainers and streetwear available to Farfetch users. According to Bain & Co, the online luxury market is set to grow from an estimated $26bn in 2018 to between $90.9bn and $103bn in 2025.

Erlson Precision Components seals double deal for Altrincham firms

Erlson Precision Components, a manufacturer based in Skelmersdale, has completed a double swoop for Altrincham firms PI Castings and Turbotech Precision Products. PI Castings has 80 staff and makes investment castings for the aerospace sector. Turbotech meanwhile manufactures impeller and compressor wheel castings in aluminium alloys for application in automotive, aerospace, heating and ventilation products. It has 35 employees.

Trak Global Group agrees deal for Intelligent Mechatronic Systems

Trak Global Group has sealed a deal for Intelligent Mechatronic Systems, a leading Canadian insurance telematics business. Trak Global Group provides technology for nearly a quarter of usage-based insurance policies in the UK, and is Europe’s leading telematics supplier to the vehicle rental and mobility sector. The deal provides Trak Global with immediate scale in North America, boosting total revenues past $50m and its workforce to over 300 staff, a third of which will be in Canada and the US.

McKesson UK buys GP supplier

McKesson UK, the parent company of Lloydspharmacy, has acquired Prescribing Support Services and Optimed Healthcare under the PSS umbrella. Prescribing Support Services provides NHS medicines optimisation services, clinical services, medical reviews, and practice pharmacists to GP surgeries, managing the recruitment process and training, while Optimed designs pharmacist-led review services as well as NHS training programmes. With around 25,000 employees, McKesson UK supports over 1,800 pharmacies with services for medicine manufacturers through to individual patients in the community.

Hachette acquires Sheldon Press

Hachette UK has acquired Sheldon Press, an imprint of Christian knowledge publisher SPCK. Sheldon Press specialises in medical, mental health and self-help books; it has over 150 titles in print. No staff are to transfer to Hachette as part of the deal.

MBO completed at Siamo Group

Key Capital Partners has sold its stake in Siamo Group to its management team in a deal backed by Clydesdale Bank. Siamo Group provides temporary and permanent recruitment services combined with training, HR, payroll and IT services. Headquartered in Birmingham, it operates from 50 locations across the UK in sectors such as retail logistics, e-commerce fulfilment and manufacturing.

Vinci to buy controlling stake in Gatwick Airport

French conglomerate Vinci has agreed to buy a majority stake in Gatwick Airport. Taking advantage of the recent drop in UK asset prices, the deal sees the infrastructure group take over the world’s busiest single runway airport for £2.9bn. Gatwick is the UK’s second largest airport and will be the largest airport in Vinci’s portfolio. Gatwick reported revenue of £764m in the last financial year, just under a quarter of the €3.2bn generated by Vinci’s airport activities in 2017.