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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Assystem Technologies acquires Stirling Dynamics

Fast-growing exporter Stirling Dynamics has been acquired by Assystem Technologies. Stirling is a provider of specialist engineering services and products for commercial and defence customers in the aerospace and marine markets. The Bristol-based business employs 90 staff and supports nine navies worldwide. Assystem Technologies operates in sectors including aerospace, defence, energy and transport, employing 1,400 people in the UK and 12,000 people globally.

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Cancom Group acquires Ocean Intelligent Communications

Cancom Group has returned to the UK market with the acquisition of Ocean Intelligent Communications, a consultancy, infrastructure and managed service provider. Cancom is a Cisco partner specialising in digital transformation, employing 2,900 people and with revenues exceeding £1bn.

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Fulcrum completes second bolt-on deal for 2018

Sheffield-based infrastructure services provider Fulcrum has completed a £1.4m deal for CDS Pipe Services. CDS is a specialist engineering subcontractor and will strengthen Fulcrum’s direct delivery capabilities, bringing services in-house. The acquisition is the second in as many months for Fulcrum, following its takeover of Dunamis Group.

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80 jobs saved as Transflex Vehicle Rental finds buyer

Dawsongroup has taken over Transflex Vehicle Rental, a subsidiary of TOM Vehicle Rental which went into administration in March. The deal saves 80 jobs and sees Dawsongroup grow its fleet by more than 3,600 vehicles.

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Hammerson withdraws interest in Intu takeover

Hammerson has withdrawn its interest in pursuing a £3.4bn takeover of rival property operator Intu. Hammerson, which owns the Bullring in Birmingham, stated that the proposed acquisition was no longer in the best interests of shareholders, pointing to the weakness of the UK retail sector. The £18.5bn deal for the owner of Westfield Shopping Centres, announced at the same time as the Intu takeover, is still expected to close this quarter.

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Callcredit Information Group bought for £1bn

Callcredit Information Group has been acquired by NYSE-listed corporate TransUnion for £1bn. Founded in 2000, Callcredit Information Group provides data, analytics and technology solutions to businesses and consumers alike. It is the second largest and fastest growing consumer credit bureau in the UK. TransUnion sees the growth of fintech as driving demand for credit reporting services worldwide.

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MFH Group changes ownership

Engineering firm MFH Group has changed ownership following a £3.4m funding deal. Rob Harmston and Steve Parker has bought the business with a combined finance package from Natwest and RBS Invoice Finance. MFH Group employs 48 people across sites in Leeds, Leicester and Sheffield and has an annual turnover of £7.5m.

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Xtremepush acquires Emailcenter

Irish-owned multi-channel analytics and engagement firm Xtremepush has completed the acquisition of Emailcenter. The deal immediately doubles the size of the tech firm, which also has plans to grow its 20-strong Dublin team by another 20 staff in the next 18 months.

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Augean sells AIS to Regen Devco

Specialist waste management business Augean has sold AIS to Regen Devco. The £3.8m deal sees the transfer of 35 employees and the signing of a three-year exclusive supply agreement for AIS to use Augean for hazardous waste disposal and treatment. Augean will also retain the East Kent High Temperature Incinerator.

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Huddersfield firm Leach bought by French group Chargeurs

127 year old graphic display business Leach has been acquired by French manufacturing and services group Chargeurs. Chargeurs is a €533m turnover business with specialisms in temporary surface protection, garment interlinings, technical substrates and combed wool. Chargeurs has been a client of Leach for seven years, using the company’s lightboxes. Leach will receive investment to grow from a 16-hour to a 24-hour operation with this deal.

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