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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Gamma Communications buys Dean One for £24m

UK telecoms group Gamma Communications has acquired Dutch business Dean One for £24m. Dean One is a channel-led business with a similar product range to Gamma. It employs approximately 60 people and generated revenue of €15.8m (£13.8m) in 2017. Gamma recorded revenue of £238.4m in 2017 with gross profit of £113m. The UK firm aims to replicate its UK success in the Netherlands, using this acquisition as a platform.

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Endless sells travel media business Ink

Mid-market private equity investor Endless has sold travel media company Ink to an affiliate of the Stagwell Group. The deal secures a 7.7x return for Endless, which backed an MBO at the firm in 2015. Ink creates digital, video, print and experiential branded content for the world’s largest travel companies. It is headquartered in London and has a global network of content creators and sales executives in Abu Dhabi, Miami, New York, São Paulo and Singapore.

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Staffline buys Passionate About People

Staffline Group has announced the acquisition of Passionate About People Group and its subsidiaries Omega Resource Group and Datum RPO. Staffline is the UK’s largest provider of blue-collar workers. It acquired apprenticeships specialist LDA from Learndirect earlier this year. Omega Resource Group is a leading provider of blue-collar staffing solutions to the aerospace, automotive, construction, energy, logistics and manufacturing sectors in the South West, while Datum RPO is a recruiter for blue-chip clients. Passionate About People recorded turnover of £72m in 2017, up 36% on the previous year.

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Mitie seals £14m deal for Vision Security Group

Mitie has agreed to buy Vision Security Group, a leading security services provider, from Compass Group for £14m. VSG offers integrated security systems, manned guarding and keyholding services. It employs approximately 6,000 people and reported revenue of £192.1m in the year to September 2017. It will be integrated into Mitie’s Total Security Management division (Mitie TSM) on completion.

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BRICKLIVE acquires Bright Bricks

AIM-listed business BRICKLIVE has bought Bright Bricks, a professional LEGO brick building company, for £8.5m. BRICKLIVE is an events and entertainment business that partners with LEGO to demonstrate its educational value in interactive shows. It delivers events worldwide.

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Linley & Simpson strengthens Yorkshire portfolio

Yorkshire estate agency Linley & Simpson has strengthened its regional presence with the acquisition of Angus Roberts letting agency. The takeover of the Ilkley firm sees its portfolio of 240 homes transfer to Linley & Simpson’s own branch in Ilkley town centre. Altogether Linley & Simpson has 11 offices across North and West Yorkshire. It received £10m of investment from LDC earlier in the year.

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Healthcare 21’s Aquilant takeover approved

Healthcare 21 has received approval for its takeover of Aquilant from H2 Equity Partners. The Irish healthcare group already has a sales and marketing office in Leeds, and with this deal doubles its turnover to €150m and its headcount to more than 450 staff worldwide. Aquilant provides a range of healthcare and scientific products and services, including outsourced sales, marketing, distribution and engineering.

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Thai packaging group wraps up £13m deal for Intelipac

Thai plastic bag maker TPBI has acquired Intelipac, a northern manufacturer of paper and cardboard packaging products, for £13m. TPBI has completed the deal in response to a growing global demand for eco-friendly products.

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IT Lab acquires Content and Code

IT Lab has acquired Content and Code, creating a £60m-turnover digital transformation firm with more than 700 clients. The deal grows IT Lab’s workforce to more than 550 employees across offices in London, Manchester and Cape Town.

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KW Wealth acquires East Yorkshire-based IFA

KW Wealth has announced the acquisition of East Yorkshire-based IFA Marchant McKechnie for up to £4m. Marchant McKechnie serves around 700 clients and has around £200m of assets under advice. It generated EBITDA of £855k in 2017 and profit after tax of just under £500k.

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