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News

BIC buys Cello’s writing arm

BIC Group, the stationery, lighters and razors business, has agreed to acquire a 40 per cent stake in Cello Pens, the Cello Group’s writing instruments business, for €124 million (£117 million) in cash.

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Low carbon house builder goes bust

UK-based Living Villages has been put into administration following a decision by its investors, Low Carbon Accelerator (LCA), not to bail it out.

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Bright Futures in PLUS admission

Bright Futures Group, an investing company seeking suitable acquisitions to increase long-term shareholder value, has announced that the company’s 218,066,747 ordinary shares of 0.01p each have commenced trading on PLUS.

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ADDleisure runs off with software company

A BUPA-backed developer of products and services in the leisure and wellness sectors has bought a software company.

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Pernod sells vodka brand

Global drinks giant Pernod Ricard has sold Serkova Vodka, its vodka brand in the Greek market to Amvyx SA, a major producer, importer and distributor of wines and spirits in Greece.

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H2O exit brings 142% IRR

Enterprise Ventures (EV), an investor group focused on the North of England, is to exit from its investment in H2O Networks after achieving a 3.6 times return on its original investment – an IRR of 142 per cent."

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Hastings and Advantage MBO

Insurance Australia Group has agreed to sell its UK market distribution business for £73.5 million as part of a restructuring strategy, which will enable the company to focus on its motor underwriting business.

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Office Friends makes Rapid acquaintance

Office Friends, a Lincolnshire-based member of office style dealer group Nemo, has acquired Rapid Office Equipment of Grimsby. The owners have decided to continue their membership of Nemo. Both companies will now operate from the Rapid site.

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Hastings and Advantage MBO

Insurance Australia Group has agreed to sell its UK market distribution business for £73.5 million as part of a restructuring strategy, which will enable the company to focus on its motor underwriting business.

News

Office Friends makes Rapid acquaintance

Office Friends, a Lincolnshire-based member of office style dealer group Nemo, has acquired Rapid Office Equipment of Grimsby. The owners have decided to continue their membership of Nemo. Both companies will now operate from the Rapid site.

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St Quinton converts Gloucester rugby deal

Entrepreneur and serial acquirer Martin St Quinton has acquired a minority interest in UK rugby team Gloucester RFC for an undisclosed sum from Tom Walkinshaw.

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Corporate failures to rise

More than 40,000 companies will be declared insolvent this year, according to the Credit Management Research Centre (CMRC) at Leeds University Business School.

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Boparan buys four FishWorks restaurants

Ranjit Boparan, owner of chicken processor 2 Sisters Food Group, through his Birmingham-based investment vehicle Boparan Ventures, has acquired four FishWorks restaurants from administration.

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CVS on acquisition spree

Expansionist CVS, a provider of veterinary services in the UK, has announced the acquisition of Melton Veterinary Practice in Suffolk.