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BuildOnline and Citadon merge

UK software company BuildOnline has merged with its US counterpart Citadon to create CTSpace. Howard Koenig, chairman of the new business, expects high-growth opportunities given the company now has a presence in Europe, North America and Asia-Pacific.

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Lyceum Capital backs SPI

SPI, which provides building services such as installation and repair to the social housing sector, has received funding from private equity firm Lyceum Capital. Lloyds TSB supplied debt.

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Harrier switches to PLUS

Harrier, an investment company targeting the financial services, IT and cyclical services sectors, has moved from AIM to PLUS Markets after failing to complete an investment within the timescale set out by the London Stock Exchange at the end of last year.

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YFM backs sports centre operator

A sports centre operator that will be hosting next year's Indoor Cricket World Cup has received £1 million of development funding.

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Xceleron raises £2 million

Drug development company Xceleron has secured £2 million in an early stage funding round led by Close Ventures.

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Rugged Logic secures investment

Rugged Logic, a provider of custom-built financial spreadsheet systems, has received more than £600,000 from a funding round led by the Merseyside Special Investment Fund (MSIF).

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Hotbed makes Kings Cross move

Private investor network Hotbed has bought the freehold of an office building in Kings Cross, London for £8 million. The company has acquired Marcello House from an undisclosed private individual in a deal reflecting a net initial yield of five per cent.

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August backs Planit public to private move

Planit Holdings, a CAM/CAD specialist, has been bought by a management buy-out team in a public to private deal worth £40.9 million. The buy-out team was backed by August Equity, which invested £14.2 million in the deal, after its ordinary shares were valued at 29p each.

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Hotbed makes Kings Cross move

Private investor network Hotbed has bought the freehold of an office building in Kings Cross, London for £8 million. The company has acquired Marcello House from an undisclosed private individual in a deal reflecting a net initial yield of five per cent.

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August backs Planit public to private move

Planit Holdings, a CAM/CAD specialist, has been bought by a management buy-out team in a public to private deal worth £40.9 million. The buy-out team was backed by August Equity, which invested £14.2 million in the deal, after its ordinary shares were valued at 29p each.

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OrthoMimetics in £5 million funding

Biotechnology developer OrthoMimetics has raised £5 million in a Series A funding round, managed by Eden Financial.

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BCC calls for SBS to be axed

Nearly two-thirds of small businesses have given the Government a thumbs-down over the level of support provided for start-ups, says a survey conducted by telecoms specialist Unicom.

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Inflexion backs Autocruise buy-out

Mid-market investor Inflexion Private Equity has backed the £13 million management buy-out of motorhome manufacturer Autocruise, taking a majority shareholding in the company after investing £5.9 million.

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Relief for private equity firms

Chancellor Gordon Brown has veered away from a proposed tax on corporate debt in his pre-Budget Report, much to the relief of private equity firms.

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