Electric Business

A brief summary of business news to keep you informed on company start-ups, corporate downsizing and mergers and acquisitions.

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Roc Technologies boosted by Esteem Systems deal

Digital transformation firm Roc Technologies has taken over data centre, cloud and managed service provider Esteem Systems. With 30 years’ experience serving private and public sector clients in local government, retail, higher education, legal, health and energy, Esteem is projected to boost Roc’s 2019 revenues to £80m and its headcount to 350 employees.

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First 10 Digital finds new home

Leeds marketing agency Home has agreed to buy First 10 Digital, sealing a second deal in three months following its purchase of Fusion Learning in July. First 10 employs 32 staff and specialises in digital experience design. Its clients include PUMA, Tilda and Boots Hearingcare. First 10 will rebrand as Home, with MD Chris Soames and creative director Danyl Bosomworth joining Home’s board.

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Worcester Warriors announces new owners

Premiership rugby club Worcester Warriors has been sold to a four-man consortium led by financier Errol Pope. The group has committed to investing and keeping the club at its Sixways ground. Its other members are Swindon Town chairman Jed McCrory, ex-player Dave Seymour and financial consultant Scott Priestnall. Worcester Warriors posted a loss of over £8m last year.

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Flamerite Fires completes MBO

Flamerite Fires has completed a multi-million pound MBO which sees control of the company transfer from David Watts to his brother John. Based in Lichfield, Flamerite designs, assembles and manufactures high-end electrical stoves, fires and suites.

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Donnelly Group opens ninth outlet in Northern Ireland

Northern Irish new and used car-seller Donnelly Group has acquired Shaws Citroën in Bangor. The deal secures Donnelly Group its ninth outlet in Northern Ireland and first in Bangor. The group has also announced it will open a Honda dealership and introduce Donnelly Motorstore to North Down. Altogether Donnelly Group employs 750 employees and represents 18 manufacturers.

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Dechra Pharmaceuticals acquires Caledonian Holdings

Dechra Pharmaceuticals has announced it has bought Caledonian Holdings for £4.4m. The bolt-on acquisition is an equine pharmaceutical supplier in Australia and New Zealand.

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Deep Sea Electronics bought in £162m deal

Scarborough-based manufacturer Deep Sea Electronics has been acquired by Caledonia Investments in a deal that values it at £162m. DSE designs and makes controllers for diesel-powered electricity generators and intelligent battery chargers. The firm employs over 170 people and sells to over 150 countries.

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Element Power sells wind assets to Norwegian group Statkraft

Norwegian energy giant Statkraft has acquired the UK&I wind development businesses of Element Power Group. The deal provides Statkraft with a large wind development pipeline of around 1.3GW in Ireland and strengthens its position in the UK with c. 250MW. Statkraft is Europe’s largest producer of renewable energy and already owns 11 wind farms in the UK and Nordics with an installed capacity of just under 1GW.

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Endless saves American Golf from administration

American Golf has been rescued from administration by private equity firm Endless in a deal that secures the immediate future of 900 jobs. Endless has form in the retail sector, buying both jeweller Theo Fennell and Jones Bootmaker out from administration in 2017, the latter of which it sold this year. 20 of American Golf’s 132 UK stores are to close.

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Dentsu Aegis Network acquires B2B International

B2B International is to become a part of Gyro, Dentsu Aegis’s global full-service offering for b2b marketing. Bought for an undisclosed sum, B2B International serves over 600 clients and has offices worldwide in Manchester, London, Düsseldorf, New York, Chicago, Beijing, Shanghai and Singapore. Gyro has 17 offices across the globe and has a client base that includes Danone, eBay, Google and Vodafone.

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