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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Wavestone acquires Xceed Group

Global consultancy Wavestone has acquired Xceed Group, a technology consultancy specialising in large IT transformation programmes for financial services organisations. The company’s expertise covers banking platforms, IT infrastructure, cards engagement platforms, digital transformation and sourcing strategies. Founded in 2003, Xceed employs 60 people across offices in London and New York and turned over £13.3m in the last financial year.

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Breedon Group completes two acquisitions

Breedon Southern has bought Staffs Concrete, a mini mix concrete operator based in Stoke-on-Trent, in a bolt-on deal that extends its reach to the north of Birmingham. Breedon Group has also confirmed that it has bought Northern Irish construction group Lagan for £455m.

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Equistone seals deal for BOAL Group

BOAL Group, a designer of aluminium roofs and walls for greenhouses, has been bought by private quity firm Equistone. Headquartered in the Netherlands and with a base in Shepshed, Leicestershire, BOAL employs around 370 people and turned over €155m in 2017.

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XLMedia acquires WhichBingo

Leeds-based bingo comparison site WhichBingo has been acquired by XLMedia, a Jersey-based digital marketing agency. Established in 2000, WhichBingo provides information on the UK bingo market, publishing thousands of player reviews as well as opinion pieces. More recently the business has expanded to cover additional gambling content such as online slots and casinos.

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Wavenet acquires APR Telecoms

Following its acquisitions of Swains and Talk Internet in 2017, Wavenet has expanded further with the takeover of APR Telecoms, a Norfolk-based provider of business communication solutions including cloud, data, telephony and VoIP. The acquisition is a natural progression on APR Telecoms’ position as Wavenet’s primary supplier, with APR already billing customers on its behalf. The deal brings a number of qualified engineers into Wavenet to enhance its technical support offering while giving APR Telecoms’ customers enhanced access to Wavenet’s unified communication and IT services.

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Co-op Energy makes offer for Flow Energy

Co-op Energy, part of The Midcounties Co-operative, has made an offer for Flow Energy. The £9.75m deal would see Co-op Energy gain around 130,000 customers, growing what is already the largest member-owned supplier in the UK energy market.

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Ramsdens Solicitors buys Burn & Co

Ramsdens Solicitors has acquired Burn & Co Solicitors, a private client and commercial practice firm with offices in York and Easingwold, North Yorkshire. The company specialises in conveyancing, wills and probate, family law, civil litigation and commercial property. The deal boosts Ramsdens’ headcount to 270 and makes it one of the largest full practice law firms in Yorkshire, with 14 offices.

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JRI Orthopaedics acquired by China’s AK Medical

Healthcare company JRI Orthopaedics has been acquired by China’s leading orthopaedic implant company AK Medical. With this £16.7m deal, JRI becomes part of one of the world’s largest 3D-printed orthopaedic implant manufacturers. On top of receiving regulatory approval to sell its own hip products in China, JRI has also been sub-manufacturing AK Medical implants at its plant in Sheffield, where further investment is now planned.

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RSK Group seals double deal for CWA and NDT Services

Environmental and engineering services company RSK Group has acquired Non Destructive Testing (NDT) Services and Copeland Wedge Associates (CWA). NDT is an independent pile testing engineering business based in Nottingham while CWA are consultant civil and structural engineers based in central Birmingham. NDT employs 20 people and has provided testing services on several high-profile projects, including various Airbus facilities, London Olympic Park and Wembley Stadium. CWA employs 39 people and provides services to projects ranging from multimillion-pound developments to bespoke architectural designs. Both companies will join RSK’s geosciences and engineering division headed by director George Tuckwell. The deals form part of planned spree of around 10 acquisitions for the group, having secured a £140m funding package from Permira Debt Managers in 2017.

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The Mission boosts London presence with Krow takeover

Full service marketing agency The Mission has bought Krow Communications, a creative agency based in Clerkenwell, London. Established in 2005, Krow employs 65 staff and serves clients including DFS, Fiat, Sky Vegas and Team GB. The acquisition provides The Mission with a high-profile London presence, adding to the 15 agencies it already owns across the UK. The deal has been sealed for an initial consideration of £2.75m rising to £14.5m contingent on performance targets being met.

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