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Flooring firm bought out of administration

Birmingham-based Floors-2-Go has been bought out of administration by its founding family. Brothers Robert and Richard Hodges declined to say how much they paid to take the business back under their control.

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Carterbar makes financial adviser acquisition

Financial adviser Carterbar has acquired Graeme Watson Independent Financial Advisers for an undisclosed sum. Read on for more deal headlines.

News

Floors-2-Go rescued from administration

Troubled retailer Floors-2-Go, which went into administration last month following the failure of a management buy-out backed by VC firm Alchemy Partners, has been bought by flooring and carpeting entrepreneurs the Hodges brothers.

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Close Enterprise VCT plays it slow

Nearly 18 months after its launch, Close Enterprise VCT holds most of its assets in fixed-interest securities and loan notes, according to its interim management statement.

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Finance deal for acquisition of Gemcom Software

Global commercial finance company CIT has announced a £27.7 million credit facility to a group of investors, including JMI Equity, The Carlyle Group and Pala Investment Holdings, to finance the acquisition of Gemcom Software.

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Energy deal lights up Brazilian M&A market

Ultrapar, a Brazilian fuels distribution, chemicals production and logistics business listed on the New York and Sao Paulo stock exchanges with a market capitalisation of $5 billion (£2.7 billion), has acquired Texaco’s Brazilian fuels distribution business for approximately $730 million (£393 million).

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Merseyside postal company receives investment package

Aquarius Equity Partners, a private equity company based in the North of England, has invested £1.6 million in Secured Group, a Merseyside-based postal services company.

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Earlybird catches the investment worm

Earlybird has completed a final closing of its new fund Earlybird IV, with investors from Germany, the US, Asia and the Middle East committing €127 million (£101 million) towards the early-stage financing of newly formed companies.

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Merseyside postal company receives investment package

Aquarius Equity Partners, a private equity company based in the North of England, has invested £1.6 million in Secured Group, a Merseyside-based postal services company.

News

Earlybird catches the investment worm

Earlybird has completed a final closing of its new fund Earlybird IV, with investors from Germany, the US, Asia and the Middle East committing €127 million (£101 million) towards the early-stage financing of newly formed companies.

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NWF to sell garden centre business

A Cheshire-based distribution specialist has announced that it is ready to listen to offers for its garden centre business in a bid to reduce its growing debt.

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Funding for advertising firm Universe Media Holdings prior to listing

Universe Media Holdings, an advertising firm based in China, has received US$58.3 million (£31.1 million) from two venture capital funds ahead of a planned overseas listing.

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Leni increases stake in exploration company

Leni Gas & Oil, an oil & gas exploration, development and production company, today announced that it has acquired a further million shares in Byron Energy from IB Daiwa Corporation, increasing its holding from 22.3 per cent to 28.94 per cent, for $6.6 million (£3.5 million) in cash.

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HG metal snaps up rival

A consortium led by Singapore steel products maker HG Metal will gain control of local rival BRC Asia from UK-based Acertec. The consortium agreed to buy Acertec's 70.3 per cent stake in BRC for $34 million (£18 million).

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