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Chrysalis VCT, the trust that merged three VCTs into one, this week boasted of a ’very strong recovery’ since it became self-managed in April 2004, but admits the insubstantial £1.1 million raised before the end of the last tax year was ‘a disappointment’.

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Two Framlington AIM VCTs, part of French insurance giant AXA’s asset management interests, have taken stakes of 1.39 per cent and 1.94 per cent in recently floated Energetix Group.

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While financial gain may commonly be perceived as the main reason to start up an enterprise, research by YouGov shows an overwhelming 89 per cent of business owners rated independence to make their own decisions as a key benefit of running a business.

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Cobalt Corporate Finance, an European corporate finance adviser, has recruited Chris Williams, former corporate finance partner and global head of TMT (technology, media and telecommunications) at professionals services firm Deloitte, as its newest partner.

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Redhall Group, an engineering support services outfit, has bought two specialist contractors to the nuclear industry. Redhall has added Steels Engineering Services and Steels Engineering Design to its portfolio following a £2.1 million deal.

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Process engineering specialist Purac has been bought by its management for £19.1 million from water services and infrastructure management group AWG. The buy-out team funded the deal alongside equity provided by Aberdeen Asset Managers Private Equity.