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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BBR Services seals deal for Scottish recruiter

Construction and residential property recruiter BBR Services has bought Scottish counterpart Star Placement for an undisclosed sum. With a strong portfolio of clients in the Central Belt and North East of Scotland, Star Placement employs three people and turned over £500,000 last year.

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Arrow Global targets expansion in Italy

Arrow Global has completed a £55m takeover of Europa Investimenti, a leading originator and manager of distressed debt investments in Italy. The deal builds on its existing Italian presence represented by Parr Credit, which it bought in March earlier this year. Arrow Global has over €53bn of total assets under management.

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Speedy Fuels acquires Birlem Oil

Crown Oil subsidiary Speedy Fuels and Lubricants has improved its coverage of the South East with the acquisition of Birlem Oil. Based in Tottenham, Birlem Oil turns over £14m and has been owned by the Buckley family for more than 50 years.

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EAD Solicitors bailed out of administration by Simpson Millar

Liverpool-based injury practice EAD Solicitors has been rescued from administration by Simpson Millar, securing the jobs of 70 people. EAD is known for its work in representing trade unions, as well as the fans and families of those killed in the Hillsborough disaster.

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Farhad Moshiri increases stake in Everton FC

Iranian billionaire Farhad Moshiri has increased his ownership stake in Everton FC, taking his shareholding from 49.9% to 68.6% of the club. The deal, completed through the vehicle Blue Heaven Holdings for an undisclosed sum, will see this stake increase again to 77.2% no later than July 2019. 75% ownership is effectively the threshold for decision-making control.

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Marsh & McLennan to buy Jardine Lloyd Thompson for £4.3bn

FTSE 250 insurance firm Jardine Lloyd Thompson has agreed to a £4.3bn takeover by US financial services giant Marsh & McLennan. The acquisition builds towards MMC’s ambition of becoming the leading global provider of advice and solutions in risk, strategy and people. In particular, the deal strengthens its risk broking expertise, expands its global reinsurance business network and improves its position in key growth markets such as Asia and Latin America. JLT employs more than 4,000 people in the UK.

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Belmont Instrument buys medical equipment distributor HC Life

Medical device manufacturer Belmont Instrument has acquired HC Life, a Wokingham-headquartered distributor of healthcare equipment. The deal expands Belmont’s UK presence and provides a logistics hub to serve its European customers.

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BTG acquires Novate Medical for up to $150m

British healthcare firm BTG has bought Irish vascular device producer Novate Medical. BTG has paid $20m in cash for Novate with a further $130m committed depending on its Sentry-brand device hitting certain sales targets. Novate’s technology adds to BTG’s portfolio for managing blood clots in patients at high risk of pulmonary embolism.

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Communicate Better seals third summer acquisition

Warrington-based communications provider Communicate Better has completed its third acquisition in as many months by buying sister companies Chilli Telecom and BE IP for an undisclosed sum. The deal opens cross-selling opportunities for the firm and puts it close to hitting £10m turnover. The news follows its acquisitions of Telemaxx in August and business mobile specialist Vision Communications in July.

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Canadian cannabis business buys UK pharma distributor

Canadian medical cannabis business Namaste Technologies has entered the UK market with the acquisition of AF Trading via its subsidiary Namaste Bahamas. Access Fulfilment is a UK licensed pharmaceutical distributor with a 30,000 sq ft warehouse in New Romney, Kent. Namaste operates an e-commerce platform in Canada which it has said it could launch in the UK. Home Secretary Sajid Javid allowed doctors to prescribe cannabis-derived medicines to patients for the first time in July.

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