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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2 Sisters Food Group sells red meat business to Kepak

2 Sisters Food Group has sold its loss-making red meat division to Irish group Kepak. The business employs around 1,700 people at four production sites in Bodmin, Merthyr Tydfil, Portlethen and Victoria as well as a cold store facility in Truro. 2 Sisters also sold its Goodfella’s and San Marco frozen pizza brands earlier in the year.

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Remote Medical International seals deal for HSE Offshore

Remote Medical International has announced the acquisition of HSE Offshore. The deal expands its oil and gas offshore medical capabilities in Europe and Africa, particularly in the North Sea. HSE Offshore will retain its 100 staff and continue to operate under the same name.

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Endless acquires Menzies Distribution

Mid-market private equity firm Endless has acquired Menzies Distribution from John Menzies in a £74.5m deal. The Edinburgh-based firm employs c. 3,700 people across 54 sites in the UK and Ireland. It provides final mile services, delivering more than 100m units each year and over 7m newspapers and magazines each day.

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BP announces £8bn deal for US shale assets

Oil and gas giant BP has announced the takeover of $10.5bn (£8bn) of US shale assets from Australian mining company BHP Billiton. The acquisition transforms BP’s US onshore oil and gas business as the rising price of oil makes new extraction techniques more attractive again. Under the deal, BP’s American subsidiary will acquire Petrohawk Energy Corporation, adding 190,000 BOE (barrel of oil equivalent) per day production and around 4.6 billion BOE discovered resources to its portfolio.

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Alpine Fire Engineers expands with AD Sprinklers acquisition

Alpine Fire Engineers has announced that it has bought the service and maintenance contracts of AD Sprinklers. The deal sees the contractor increase both its revenue and directly employed service engineers by around 30%.

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Scholastic buys Baker Books

Children’s book publisher Scholastic has bought Baker Books’ book club business. Baker Books Book Club caters to schools across the UK and internationally, and will be run alongside Scholastic’s existing book club. The business was founded in 1979 by Eric Baker, who had already helped establish the Scholastic Book Club in the UK.

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Apiary Capital invests in The Appointment Group

Global travel and events business The Appointment Group has been bought by Apiary Capital for a reported £18m. TAG aims to drive transformational growth through acquisitions as well as investment in technology and people. The company has announced the appointment of Steve Barrass as CEO, with co-founder Maurice Veronique stepping back from the role.

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Rcapital backs MBO of Thornhill Heat Exchangers

Rcapital has backed a management buyout of Thornhill Heat Exchangers, an engineering group specialising in plate heat exchanger spares and service. It caters to a blue-chip customer base in the food and drink, oil and gas, nuclear, power generation, rail and steel sectors. The deal secures a future for some 100 staff based across the Midlands and Northern England.

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Elaghmore Partners acquires Alucraft Group

Private equity firm Elaghmore Partners has acquired Alucraft Group, Ireland’s leading designer, manufacturer and installer of architectural glazing systems. Founded in 1975, Alucraft has offices and manufacturing facilities in Dublin and Tamworth and has recently completed projects for Amazon, Lidl Ireland and LinkedIn EMEA. The company hopes to profit from increased business in Ireland with financial services seeking to build operations in the country post-Brexit.

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Nationwide Platforms buys HSS Hire powered access business

Leading European equipment rental company Loxam has announced that its subsidiary Nationwide Platforms is to buy UK Platforms from HSS Hire Group. UKP rents out powered access equipment from 12 branches across the UK. It employs approximately 130 staff and operates a fleet of 3,000 units. As part of the deal, Nationwide will provide powered access equipment to complement HSS Hire’s existing fleet.

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