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

Bolton Wanderers saved from brink of administration

Former Watford FC owner Laurence Bassini has agreed to buy Bolton Wanderers FC, pulling it back from the brink of administration. The club has said “significant funds” will be made available to pay wages and creditors. Bolton have lost five of their past six games and are close to relegation from the Championship. Players recently staged a 48-hour strike after receiving their wages late for the second month in a row.

Leave a Reply

Pension fund USSL seals £500m deal for KCOM

The Universities Superannuation Scheme (USSL), one of Britain’s biggest pension funds, has agreed to buy Hull-based telecoms company KCOM in a deal worth £504m. The news has seen the struggling firm’s share price jump by about a third to 97p. KCOM provides voice and internet-based services to 140,000 customers and businesses in Hull, the only part of the UK where the market leader BT doesn’t have a presence.

Leave a Reply

CMA blocks Asda-Sainsbury’s merger

Sainsbury’s and Asda’s proposed merger has been blocked by the Competition and Markets Authority. In a strongly-worded report, the CMA ruled that the deal would have led to higher prices, lower quality, a worse range on the shelves, and a poorer overall shopping experience. In particular, the CMA points to the likelihood of price increases for motorists at over 125 locations where the businesses’ petrol stations are located close together.

Leave a Reply

Calvin Capital to acquire Lowri Beck

Calvin Capital has agreed to acquire Lowri Beck, a provider of meter installation and data collection services to the UK energy market. The deal will see the creation of an end-to-end offering comprising the installation, servicing, managing and funding of domestic metering assets. Furthermore, it establishes a platform for the future funding and management of a wider range of digital energy assets, such as battery storage and EV charging infrastructure. Lowri Beck reported revenue £71.5m in 2017. It installs and exchanges over 300,000 meters each year, collects data on another five million and is involved in the nationwide smart meter rollout.

Leave a Reply

Sanlam UK acquires Blackett Walker

Sanlam UK has acquired financial planning and employee benefits firm Blackett Walker. Based in Newcastle, Blackett Walker consists of five financial advisers serving more than 1,000 clients. All support staff will be retained with the takeover.

Leave a Reply

L-Acoustics to buy majority stake in DeltaLive UK

L-Acoustics has agreed to buy a majority stake in DeltaLive UK, a specialist in audiovisual services and rental, to coincide with the recent sale of DeltaLive’s Dubai-based operations Delta Sound to PRG. Delta Live UK will work on the development of L-Acoustic’s private, lifestyle and sound art sector business.

Leave a Reply

Arch Insurance seals deal for Obelisk

Arch Insurance has completed a deal for Obelisk Underwriting, a specialist agency with offices in Leicester and Sheffield. Obelisk will join the recently formed Arch UK Regional Division, adding around £5m of gross written premiums to its books.

Leave a Reply

Integrate acquires Akkroo

Akkroo, a specialist in B2B event lead capture, has been bought by US business Integrate for $34m (£26.1m). Akkroo’s software helps connect and integrate leads with a company’s marketing stack.

Leave a Reply

Campbell Dallas and Scott-Moncrieff to merge

CogitalGroup, the owner of Walsall business advisory and accounting firm Baldwins, has completed the takeover of Scottish business Scott-Moncrieff. The deal will create a £200m turnover group, with Scott-Moncrieff the latest in a line of Scottish acquisitions for Cogital, kickstarted by its takeover of Campbell Dallas and Springfords in October 2017. All 16 Scott-Moncrieff partners and 220 staff will join Campbell Dallas, expanding the practice to 500 staff posted across 11 offices.

Leave a Reply

Bonhill Group has Last Word

AIM-listed B2B media firm Bonhill Group has acquired Last Word Media. Founded in 2005, Last Word offers B2B media services across the globe, with 71 staff based in its London head office, eight staff in Hong Kong and three in Singapore.  The deal provides it with a springboard into America.

Leave a Reply