Electric Business

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

Electric Marketing provides this service as free to access here, or it can be emailed to you monthly. Just Sign Up

Inprova Group bought by CEO Paul Kennedy

Inprova Group, a Warrington-based provider of procurement solutions, has been bought by its chief executive Paul Kennedy. Following the buyout, Inprova has secured a £4m loan from the Barclays Northern Powerhouse Fund.

Leave a Reply

Waterland Private Equity acquires childcare services provider Sandcastle Care

Waterland Private Equity has acquired Sandcastle Care, a childcare services provider in North West England. Sandcastle offers long-term therapeutic care across 18 sites and has been operating small care homes since 2004.

Leave a Reply

Smith & Nephew agrees deal to take over Ceterix Orthopaedics

Hull-headquartered medtech company Smith & Nephew has agreed to take over US firm Ceterix Orthopaedics. Ceterix is the developer of the “Novostitch Pro” Meniscal Repair System, which addresses more complex meniscal tear patterns than Smith & Nephew’s existing products can address. Smith & Nephew has agreed to pay an initial $50m for the firm, with another $55m available over the next five years subject to meeting financial performance targets.

Leave a Reply

Rebellion buys TickTock Games

Game developer and publisher Rebellion has bought TickTock Games for an undisclosed sum. The Yorkshire-based games studio is Rebellion’s fourth acquisition and will be rebranded as Rebellion North.

Leave a Reply

Burningnight bought out of administration by Access Commercial Finance

Parts of bar group Burningnight look set to be bought out of administration by turnaround specialist Access Commercial Finance. Burningnight has sites in Birmingham, Leeds, Liverpool, Manchester and Nottingham.

Leave a Reply

Opentree acquired by Graitec

Opentree, an Electronic Document Management software development firm based in Stokesley, has been acquired by global firm Graitec. Opentree provides EDM solutions to blue-chip clients such as Tata Steel and Siemens. As well as its Stokesley HQ, it has a development office in Sheffield.  Graitec specialises in CAD and CAE software for the civil engineering and construction sectors and has 45 offices across Europe, America and Russia.

Leave a Reply

Arch Insurance Europe buys Ardonagh’s commercial lines business

Arch Insurance Europe has completed a takeover of the UK commercial lines business owned by the Ardonagh Group and parts of its Geo Underwriting segment. The combined firm employs around 250 people and generated over £150m of gross written premiums in 2017. It will become the Arch UK Regional Division and focus on commercial property, casualty, motor, professional liability, personal accident and travel.

Leave a Reply

You & Mr Jones takes majority stake in Oliver Agency

Brand-tech business You & Mr Jones has taken a majority stake in Inside Ideas Group, a London-based firm that helps brands build their own internal marketing capabilities. Inside Ideas’ biggest subsidiary is Oliver, an in-house content specialist that works with the likes of Adidas, Google, PepsiCo and Unilever. The group generates approximately $150m in annual revenues.

Leave a Reply

Aston Barclay invests in LCV offering

Aston Barclay has announced a takeover of Independent Motor Auctions in Leeds. The deal marks Aston Barclay’s entry into the Light Commercial Vehicles market, with IMA’s fleet sales catering to vendors including British Gas, National Grid and Yorkshire Water. While IMA’s Leeds sites will be closed down, Aston Barclay plans to redevelop its existing Leeds centre into a dedicated LCV facility. Its Leeds car auctions will be transferred to its ‘mega centre’ in Wakefield.

Leave a Reply

Coats acquires ThreadSol for $12m

Industrial thread manufacturer Coats has acquired ThreadSol, a cloud-based digital applications provider. ThreadSol’s technology focuses on fabric usage optimisation with the aim of reducing waste and cost. Headquartered in Singapore, and with offices posted across South Asia, Threadsol has over 100 employees and sales of c. $2.3m in 2018. It will be integrated into Coats Global Services for a cash consideration of up to $12m.

Leave a Reply