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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Quilter subsidiary Intrinsic buys Lighthouse Group

The financial advice firm Lighthouse Group has been acquired by Quilter subsidiary Intrinsic. The £46.2m deal enables Intrinsic to develop its national advice business, adding 400 advisers to its team. Quilter as a whole now employs more than 3,900 financial advisers.

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Tibbetts Group takes over Powell Gee

Powell Gee, a manufacturer of fasteners for the construction industry, has been taken over by family-run engineering firm Tibbetts Group. Tibbetts supplies products and components to the aerospace, automotive, construction, industrial and security sectors.

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McAusland Turner acquires Robmarine Shipping

Historic Hull marine firm McAusland Turner has acquired Robmarine Shipping in Sussex. Established in 1888, McAusland Turner offers services in cargo, offshore wind, loss prevention and auditing. It recently established new bases in Grimsby and Newcastle, and revealed early plans to open an office in the City of London.

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Magic Rock Brewing acquired by Lion

Huddersfield-based beer company Magic Rock Brewing has been acquired by Australian brewer Lion. Founded in 2011, Magic Rock employs 45 people and sells its beers in more than 25 countries worldwide. It reportedly has a 5% share of the volume of craft beer sold worldwide.

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Hotstart completes takeover of IPU Group’s engine heating business

Spokane Valley manufacturer Hotstart has completed a takeover of IPU Group’s UK engine heating business. The deal will allow Hotstart to serve UK customers directly through its newly formed business Hotstart Birmingham, trading as Hotstart UK. IPU Group had been a Hotstart distributor for more than 20 years. It has developed a range of new products to complement Hotstart’s product line, and will see production of those moved to the US.

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Learnlight acquires arenalingua

The Education technology specialist Learnlight is expanding into Europe with the acquisition of the Germany language training company arenalingua. The deal boosts Learnlight’s number of trainers to 3,000, with over 150,000 learners in more than 150 countries each year.

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CMS Window Systems sold to Maven Capital Partners

CMS Window Systems has been sold by LDC to Maven Capital Partners. CMS manufactures energy-efficient and environmentally friendly windows, doors and curtain wall insulation.

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Park Place Technologies acquires MCSA

The data center maintenance firm Park Place Technologies has acquired the business-critical IT services provider MCSA.

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Smith & Nephew takes over Osiris Therapeutics in £500m deal

Osiris Therapeutics, a biotechnology company which specialises in regenerative medicine products, has been taken over by in Smith & Nephew in a deal worth around £500m.

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LDC sells CMS Window Systems to Maven Capital Partners

CMS Window Systems has been sold by LDC to Maven Capital Partners. CMS manufactures energy-efficient and environmentally friendly windows, doors and curtain wall insulation.

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