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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Boels Rental continues UK expansion

Boels Rental has expanded in the UK again with the acquisitions of Artisan Hire Centre and sister company SAS (Survey & Safety Equipment Hire and Sales). The two companies operate from nine depots across south-west England. The deal brings the total number of Boels branches in the UK to 38, building on its takeovers of Supply UK Hire Shops in 2017 and Already Hire earlier this year.

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MRM buys finance media specialist CCM

Communications consultancy MRM has acquired Capital City Media. Founded in 1990, CCM was the first media agency to specialise in media planning and buying for the financial services sector.

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Polypipe Group seals £16.5m deal for Permavoid

Polypipe Group, the UK’s largest manufacturer of plastic piping systems by revenue, has acquired Permavoid, a specialist designer and supplier of surface water management solutions. Polypipe has paid an initial £4m with a further deferred £12.5m available on meeting certain EBITDA targets. Permavoid has worked on such projects as the installation of a water management system below the surface of the pitch at Anfield stadium for Liverpool FC.

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Wavenet acquires Solar Communications

Beech Tree-backed Wavenet has moved to bolster its cloud unified communications offering with the acquisition of Solar Communications Group for an undisclosed sum. Solar employs around 100 people and has offices in Salford, Cardiff, Chippenham and Harlow. The takeover continues Wavenet’s buy and build strategy, which has seen the acquisitions of APR Telecoms in April and Talk Internet in 2017. With this latest deal the group will service nearly 10,000 UK business customers.

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Maven Capital backs £20m management buyout at UAP

Maven Capital Partners has backed door and window hardware supplier UAP in a £20m management buyout. The transaction includes an £8.7m equity investment from Maven alongside the reinvestment of UAP’s senior management team. UAP offers more than 3,000 product lines and exports to 25 countries.

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Kaseya acquires RapidFire Tools

Kaseya, a supplier of IT infrastructure management solutions for managed service providers and internal IT organisations, has bought RapidFire Tools, a provider of IT assessment, internal threat detection and compliance products based in Atlanta, Georgia. The software vendor plans to integrate RapidFire’s products into its IT Complete suite.

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Boole’s Tools comes back under family control

Boole’s Tools and Pipe Fittings has completed a management buyout, bringing the business back under family ownership from builders merchants Grafton Group. The deal was led by managing director Terry Seville and fellow director Tracy Seville, née Boole. The company supplies tubes, valves, fittings and allied pipeline products and operates from a 67,000 sq ft office and distribution centre in Stockport.

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Ascential buys Brand View for up to £38m

Business information company Ascential has announced a takeover of Brand View, a provider of pricing and promotion data and analysis for retailers and manufacturers. The company serves over 200 customers and has offices in Reading, Paris and Stamford, Connecticut. Using the capital released from the recent sale of its exhibitions business, Ascential has paid £29.8m for Brand View with a further £8.2m available upon meeting certain targets.

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Bakkavor seals sweet deal for desserts maker

Lincolnshire-headquartered food group Bakkavor has acquired Haydens Bakery from Real Good Food for £12m. Established in 1976, Haydens is a leading producer of sweet bakery goods for the UK’s major grocery retailers. It operates from two sites in Devizes, Wiltshire, and has around 480 employees. The deal extends Bakkavor’s desserts range and in-store bakery offering, as well as improving its distribution network and facilities.

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Waterstones buys Foyles

British bookseller Waterstones has bought Foyles from the Foyle family. Waterstones, which was bought by activist investment firm Elliott Advisors in April, acquires the retailer’s flagship Charing Cross Road store, three shops in London, and stores in Birmingham, Bristol and Chelmsford with the deal. Waterstones has 283 stores and employs 3,000 people across the UK, Ireland, Belgium and the Netherlands. Foyles employs just under 200 people and turns over more than £25m a year. Its brand will be protected.

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