British Steel’s TSP Projects has been bought by international transport consultancy Systra, saving hundreds of jobs. The deal will double Systra’s presence in the UK, with TSP Projects’ extensive experience of civils, electrification and track works complementing its existing UK rail engineering services. TSP has annual turnover of £35m and employs more than 400 people at fives offices in York, Birmingham, Bristol, Manchester and Reading. The deal includes over £70m of pension liabilities, and has no impact on continuing talks regarding the rest of British Steel, after it was pushed into compulsory liquidation in May.
UK fintech firm Ipagoo has been purchased out of administration by Anglo-Dutch investment group Chairmans Financial, a month on from the suspension of its customer accounts. Chairmans has bought 100% of the firm as well as selected assets from its parent company Orwell Group, which developed Ipagoo’s software. Ipagoo was launched in 2015 by former Goldman Sachs Asset Management director Carlos Sanchez, providing a multi-currency account that can be opened more swiftly than traditional banks.
Pharmaceutical and biotech product development consultancy Boyds has enhanced its clinical and medical affairs services offering with the acquisition of Blue Duck Consulting. Since 2013, Blue Duck provides expert preclinical and clinical drug development strategies and specialist monitoring and project management of clinical operations services in a range of therapeutic areas. Blue Duck was founded by Dr Karen O’Hanlon, a programme manager with 17 years’ experience at firms including hVIVO and SRA Global Clinical Developments, and will join Boyds as director of clinical operations.
Premier Asset Management and Miton have merged to create a group with assets under management of some £11.5bn. The all-share merger deal sees Miton shareholders receive 0.3 shares in Premier per share, valuing them at 56.7p, a premium of 38% on its last close price. Premier saw its AUM rise to £6.86bn as of 30 September 2018, with turnover up almost 20% to £48.8m.
CNH Industrial has agreed to take over farm management information systems (FMIS) provider AgDNA. The deal allows CNH customers and third-party users to profit from AgDNA’s single point data integration, mapping and analytical tools.
HR services group AdviserPlus has acquired Working Transitions, an organisational change, career transition and tailored coaching solutions consultancy. Founded in 1993, Working Transitions has served over 1,000 clients, including FTSE 100 companies and government departments, across sectors such as financial services, manufacturing, retail and legal. The acquisition builds on AdviserPlus’ acquisition of HR platform implementation firm Succeed in 2018 and its UK partnership with HR business analytics specialist HCMI. AdviserPlus employs more than 300 people across offices in Liverpool and Yorkshire.
Warwickshire-based engineering specialist Ricor Global has acquired Walsall Pressings Company and D.R.B. Engineering (Walpres) for an undisclosed sum. The deal creates an £80m turnover group with seven factories distributed across the UK, Poland and Slovakia. Walpres manufactures automotive body pressings and assemblies for automotive OEMs and tier one suppliers. Ricor has called the acquisition a “transformational opportunity”, augmenting its product capabilities and OEM customer base at the heart of the European automotive industry.
AFI-Uplift, a powered access platforms specialist that offers machine rentals and sales alongside training and health & safety courses, has bought Facelift (GB). The announcement, in tandem with a long-term financing arrangement with Pricoa Private Capital, is said to be worth c. £160m in total. Facelift reported revenues of £12m in 2018 and has a total rental fleet of 700 machines. The acquisition takes AFI-Uplift’s fleet to 7,500.
Environmental, engineering and technical services consultancy RSK has acquired Geocore Investigations, its fifth deal this financial year. RSK employs more than 3,100 staff in 100 offices globally, and has revenues of more than £250m. Geocore is a subsidence investigation specialist with 30 staff.
Great Rail Journeys (GRJ) is to acquire Vacations by Rail (VBR), an independent US provider of escorted and independent rail holidays. The deal bolsters GRJ’s position as global market leader, and provides a path to new product areas such as its newly launch Rail River Cruise Range. It hit turnover of £86m in the year to 31 October 2018.