Ligand Pharmaceuticals seals deal for Vernalis

Ligand Pharmaceuticals has had a £32.7m offer accepted for Vernalis, a leader in structure-based drug discovery. The deal includes a portfolio of more than eight fully-funded partnered programmes focused around the central nervous system, oncology and inflammation, and a 70-strong R&D team based in Cambridge.

Valeo Foods Group has agreed to buy Tangerine Confectionery from Blackstone for £100m. Tangerine Confectionery makes some of Britain’s best known sweets, including Blackjacks, Dip Dab, Fruit Salads, Lion bars and Refreshers. It had revenue of £139m in 2016 and employs around 1,500 people. Under its new owners it joins Big Bear Confectionery, the maker of Fox’s Glacier Mints, which Valeo acquired at the end of 2017.

Absolute Direct Marketing has agreed to take over digital design firm Telescope Studios. The £5m deal will enhance Absolute DM’s software development, data and asset management expertise.

Technical recruiter the Morson Group has acquired Anderselite, a Southampton-based provider of recruitment services to the civil engineering, construction, facilities management and rail sectors. Morson is an engineering design and project management company as well as a recruiter. It is headquartered in Manchester and has over 40 offices worldwide.

Complete Business Solutions Group has completed a triple swoop for OfficeGold, Simply Outsourced and Anglo Office Group. The deal takes the Wakefield-based office supplies dealer past £100m turnover. OfficeGold is an £11m turnover business supplies and services company based in Guildford, while Simply Outsourced is a £6m turnover IT and technical services firm in Cambridgeshire. Anglo Office Group is a London-based managed services provider with annual turnover of £8m. Altogether the acquisitions add £25m of profitable turnover to the group as well as four new sites, taking Complete Business Solutions to 20 locations nationwide.

Have You Invested In an eMailing List which is GDPR Compliant?

Have you remembered to change your email sign offs and to put links to your privacy policy and legitimate interests assesment in your marketing emails?

After the deluge of permissioning emails around GDPR, many people are acutely aware of which emails they have signed up to receive and which requests for permission they denied or ignored.

This means that slack marketers can no longer rely on the short memory of a target by writing something like this:

“You are receiving this email as you have subscribed in the past to receive information about our events. If you wish to update your email preferences or unsubscribe, please click the link below”.

Yes this statement is doing the right thing by offering an unsubscribe but post-GDPR this sort of email sign off is increasingly being called out by targets.

A little white lie claiming that the prospect is receiving emails because they have ‘previously signed up’ or ‘enquired in the past’ when the marketer bought in an email list and the company has no previous relationship with the data subject does not enhance your campaign. In the post-GDPR age, very few people are falling for this anymore.

Transparency is one of the key principles of GDPR.  We suggest that you follow the ICO recommendations of adopting a ‘layered approach’ to giving data subjects information about privacy and legitimate interests. Somewhere on your marketing email, you should state the reason for contacting the company under the terms of legitimate interests and you should provide a link to your privacy policy, which in turn has a link to your legitimate interests assessment.

I have seen this at the bottom of a few emails this month:

“This email was sent to you as a corporate subscriber within the meaning of the Privacy and Electronic Communications Regulations 2003. Your personal data are protected under the General Data Protection Regulation and Data Protection Act 2018. If you would like to know how and why you have received this message, please visit our information page.”

(Unfortunately the information page link clicks through to something that is blocked by my office spamblock, but I’d like to think it is a link to a Privacy Policy and a Legitimate Interests Assessment.)

Electric Marketing is signing off its emails with this:

“As a GDPR compliant company, we would like to explain why you have received this email. We believe that you have a need for business marketing data within your business. We have identified your email address as being an appropriate point of contact within your organisation. This represents legitimate interest in line with the ICO’s guidance. Our Privacy Notice is available here

Like the new regulation, our statement is a bit clunky but as we all get used to what GDPR means for business-to-business marketing, this will no doubt become shorter and snappier over time.

The Poundworld brand has been rescued from administration by Irish retailing family the Hendersons, who opened Ireland’s original Poundworld store in 1984. The proposed deal is likely to include about 10% of Poundworld’s 355 stores, and will not save the jobs of any current staff.

Canadian investor Lawrence Stroll, the father of Williams driver Lance Stroll, is leading a consortium that has bought Force India Formula 1 out of administration. The deal pays its creditors in full, saves all 405 jobs and secures ongoing funding for the team. Force India was believed to owe engine suppliers Mercedes £10m while its operating company, its largest creditor, was understood to have debts in excess of £159m.

mfg Solicitors has completed a merger with Pearson Rowe, a 13-strong law firm that is celebrating its 100th anniversary this year. The deal takes mfg’s headcount to 154 and its number of partners to 37. It also adds a Birmingham site to mfg’s existing five offices in Bromsgrove, Kidderminster, Ludlow, Telford and Worcester.

Sports Direct has agreed to buy House of Fraser for £90m. The department store chain went into administration earlier the same day after failing to reach an agreement with creditors and investors. House of Fraser has been struggling for some time, and had announced restructuring plans in June that would have seen 31 of its 59 UK stores close down. The Chinese business C Banner looked set to take control and inject £70m into the business, but pulled out of the deal after its share price plummeted. Sports Direct’s owner Mike Ashley already holds an 11% stake in the department store chain. The retail mogul’s plans are unclear, but could include rebranding some stores as Sports Direct.

Ligand Pharmaceuticals seals deal for Vernalis

Ligand Pharmaceuticals has had a £32.7m offer accepted for Vernalis, a leader in structure-based drug discovery. The deal includes a portfolio of more than eight fully-funded partnered programmes focused around the central nervous system, oncology and inflammation, and a 70-strong R&D team based in Cambridge.

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Tangerine Confectionery bought in £100m deal

Valeo Foods Group has agreed to buy Tangerine Confectionery from Blackstone for £100m. Tangerine Confectionery makes some of Britain’s best known sweets, including Blackjacks, Dip Dab, Fruit Salads, Lion bars and Refreshers. It had revenue of £139m in 2016 and employs around 1,500 people. Under its new owners it joins Big Bear Confectionery, the maker of Fox’s Glacier Mints, which Valeo acquired at the end of 2017.

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Absolute DM eyes Telescope Studios deal

Absolute Direct Marketing has agreed to take over digital design firm Telescope Studios. The £5m deal will enhance Absolute DM’s software development, data and asset management expertise.

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Morson Group acquires Anderselite

Technical recruiter the Morson Group has acquired Anderselite, a Southampton-based provider of recruitment services to the civil engineering, construction, facilities management and rail sectors. Morson is an engineering design and project management company as well as a recruiter. It is headquartered in Manchester and has over 40 offices worldwide.

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Complete Business Solutions Group announces triple acquisition

Complete Business Solutions Group has completed a triple swoop for OfficeGold, Simply Outsourced and Anglo Office Group. The deal takes the Wakefield-based office supplies dealer past £100m turnover. OfficeGold is an £11m turnover business supplies and services company based in Guildford, while Simply Outsourced is a £6m turnover IT and technical services firm in Cambridgeshire. Anglo Office Group is a London-based managed services provider with annual turnover of £8m. Altogether the acquisitions add £25m of profitable turnover to the group as well as four new sites, taking Complete Business Solutions to 20 locations nationwide.

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Poundworld brand saved from administration

The Poundworld brand has been rescued from administration by Irish retailing family the Hendersons, who opened Ireland’s original Poundworld store in 1984. The proposed deal is likely to include about 10% of Poundworld’s 355 stores, and will not save the jobs of any current staff.

Leave a Reply

Lawrence Stroll-led consortium saves Force India F1

Canadian investor Lawrence Stroll, the father of Williams driver Lance Stroll, is leading a consortium that has bought Force India Formula 1 out of administration. The deal pays its creditors in full, saves all 405 jobs and secures ongoing funding for the team. Force India was believed to owe engine suppliers Mercedes £10m while its operating company, its largest creditor, was understood to have debts in excess of £159m.

Leave a Reply

Pearson Rowe bought by mfg Solicitors

mfg Solicitors has completed a merger with Pearson Rowe, a 13-strong law firm that is celebrating its 100th anniversary this year. The deal takes mfg’s headcount to 154 and its number of partners to 37. It also adds a Birmingham site to mfg’s existing five offices in Bromsgrove, Kidderminster, Ludlow, Telford and Worcester.

Leave a Reply

Sports Direct buys House of Fraser for £90m

Sports Direct has agreed to buy House of Fraser for £90m. The department store chain went into administration earlier the same day after failing to reach an agreement with creditors and investors. House of Fraser has been struggling for some time, and had announced restructuring plans in June that would have seen 31 of its 59 UK stores close down. The Chinese business C Banner looked set to take control and inject £70m into the business, but pulled out of the deal after its share price plummeted. Sports Direct’s owner Mike Ashley already holds an 11% stake in the department store chain. The retail mogul’s plans are unclear, but could include rebranding some stores as Sports Direct.

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Rodgers Leask directors complete MBO

The directors of engineering consultancy Rodgers Leask have completed a management buyout with support from Sterling Capital Investments, Investec Capital Solutions and Flint Bishop Solicitors. Co-founder Andy Leask invited the deal to ensure succession by his longstanding team, made up of directors Lawrence Pacey, Paul Spencer, Kully Toor, Stewart Friel and Kriston Harvey.

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