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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Former F1 owner approaches Premiership Rugby

Premiership Rugby is set to hold a board meeting to discuss a £275m approach from CVC Capital Partners. The former F1 owner is interested in acquiring a 51% share in the business, valuing the league at £550m.

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Foresight Group acquires sixth wind farm in 12 months

Investment firm Foresight Group has announced the acquisition of 14.4MW wind farm in North Pickenham, Norfolk. The takeover, from German renewables company ENERTRAG, is Foresight’s sixth wind farm acquisition in 12 months, amounting to a total 102MW generating capacity.

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Growing DRP Group acquires HMX Corporate Communication

HMX Corporate Communication, a Buckinghamshire-based agency specialising in video, digital media and live events, has been acquired by drp. HMX’s clients include the big four accounting firms, major consultancies, law firms and high-tech businesses such as Bosch Siemens Homecare and GE Healthcare. The deal increases drp’s staff count to more than 280 people, building on its acquisition of events agency Penguins last year.

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Barnsdales buys Bridge Property Management

Chartered surveyors and property consultancy Barnsdales has taken over Bridge Property Management in Swinton, Rotherham. Founded 113 years ago, Barnsdales employs 40 people and adds over 200 fully managed properties to its portfolio with this deal.

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Contis secures consumer credit licence with Paze acquisition

Banking and payments solutions specialist Contis has obtained a UK consumer credit licence with the acquisition of Paze Financial. The deal allows Contis’ b2b platform clients to offer credit to their customers alongside core banking functionality. Contis also gains access Paze’s full suite of technology, which includes a consumer lending system equipped with AI analytics to make real-time affordability decisions.

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Finsbury Food Group acquires Ultrapharm

Finsbury Food Group has completed a £17m deal for specialist free-from bakery manufacturer Ultrapharm. Established in 1993, Ultrapharm employs over 240 people in manufacturing sites in the UK and Poland. The deal cements an existing relationship between the companies, with Ultrapharm already a supplier to Finsbury’s Lightbody Europe business. Ultrapharm generated revenue of £19.5m in 2017, up 35% from £14.5m the year before.

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Immediate Media Co to acquire BBC Good Food

Special interest content and platform company Immediate Media Co has reached a deal to take over BBC Good Food from BBC Studios. Aside from being the UK’s most-read food website and magazine, BBC Good Food has the biggest cross-media reach of any UK magazine brand. The deal also includes its digital and live events arm, which attracts 300,000 visitors a year. Immediate Media Co is the owner of some of the UK’s best-known media brands, such as Radio Times and Top Gear, and reaches over 22 million consumers each month. The deal is its first under the ownership of Hubert Burda Media.

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Search Consultancy acquires tech recruitment firm

Search Consultancy, a leading UK recruitment firm, has acquired technology specialist Henderson Scott. Established in 1999, Henderson Scott employs 50 people at offices in Amersham and London and provides recruitment services for leading players in the tech industry, including NTT Communications and Vodafone. The deal creates a group with turnover of £220m and 750 staff.

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EG Group strikes deal for another 225 US sites

Following its £1.5bn entry into the US in April, EG Group, the owner of Euro Garages, has bought a further 225 sites from TravelCenters of America. The $305m (£237m) deal includes 225 Minit Mart branded convenience retail stores and gas stations located across nine Midwest states. It means EG Group now owns close to 1,000 outlets in the US.

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The Hut Group buys beauty contract manufacturer

THG, the fast-growing beauty and wellbeing group, has acquired Acheson & Acheson, a British beauty contract manufacturer and product developer. Established in 1992, Acheson & Acheson has grown to employ 380 people, including more than 50 staff that work exclusively on product development and innovation. The company’s end-to-end service covers everything from packaging design to manufacturing and distribution. Acheson & Acheson has two sites in Trowbridge along with a 78,000 sq ft manufacturing facility in Frome, Somerset. The deal also includes its own Ameliorate skincare brand. In July this year it was revealed that THG had increased its banking facilities from £600m to £795m to fund an acquisition spree. It has earmarked £50m for replicating Acheson & Acheson in Europe and the US.

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