Other Done Deals
Advertising agency The Bridge has been bought by its management. The team was led by David Watson, Alan Clarke, Frank Stubbs and Margaret Clarke and will provide an exit for managing director Brian Crook, creative director Jonathan d’Aguilar and former agency colleague Liz O’Connor.
Source: The Drum
Carrs of Sheffield has bought the assets of 300-year-old Nickel Blanks, the Meadowhall-based cutlery and silverware manufacturer, out of administration. The deal comes too late to save the company’s 70 staff.
Deals in the Pipeline
New York-based private equity firm JLL Partners has agreed to buy PharmaNet Development Group, Inc., a drug development company in Princeton, New Jersey, in a deal valued at some $100 million (£69 million).
2ergo, a mobile phone technology group based in Lancashire, has agreed to buy Broca, the subsidiary it demerged two years ago, in an all-share deal worth £4.9 million.
The world’s largest brewer, Anheuser-Busch InBev, is looking to sell its South Korean unit, Oriental Brewery, for as much as $2.5 billion. It is understood that the brewery giant has approached rival SABMiller Plc about a possible deal.
Insituform Technologies Inc., which repairs sewer, water and other piping systems, has agreed to buy the Bayou Companies LLC for $125 million and Corrpro Cos. Inc. for $91 million. The double deal will be funded through debt and a share placing.
CVC Capital Partners is understood to be selling its stake in Post Danmark, the Danish postal service, and upping its interest in its Belgium counterpart, De Post/La Poste.
Chartered surveyor Eddisons has announced the acquisition of niche asset management business Wildheart LLP for an undisclosed sum. The acquisition will expand Eddisons’ residential property management division to serve the banking and insolvency sectors.