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Minimum wage laws flouted

British workers were underpaid to the tune of over £3 million by employers paying below the minimum wage last year, with some outrageous excuses (including ‘they are a total waste of space – they do not deserve it,’) being offered, according to HM Revenue & Customs.

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Biocare for AIM

Biocare Solutions, the developer and manufacturer of environmentally friendly household cleaning products, is seeking to raise £6.25 million ahead of an expected AIM float later this month. KBC Peel Hunt will act as broker and adviser.

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Skills crisis in Britain

One in three employers refuse to train their staff, according to a report from the Trades Union Congress (TUC), which claims this is creating a skills crisis in Britain and leaves over eight million untrained. The TUC report, 2020 Vision for Skills, reveals 8,377,200 workers have not been trained.

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TriVest’s special delivery

TriVest – the venture capital trust co-managed by private equity firms Matrix, Foresight and Nova – has completed a profitable exit from Secure Mail Services, the Northampton-based provider of specialist mail and package delivery services. On Matrix’s advice, TriVest backed the business in 2002 and has seen the value of its stake rise from an initial £1.3 million to £4.2 million in that time.

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£10m for Keronite

Keronite, the developer of new metal-coating process that hardens the surface of aluminium and magnesium alloys, has concluded a £10 million funding round backed by hi-tech VCT firm Quester (£1.3 million) and private investor network Hotbed (£2.7 million) among others.

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Rubicon heads to market

Rubicon Software, which develops customer relationship management applications for the financial services sector, is eyeing an AIM launch for 6 September – having raised £770,000 (£430,000 net of expenses) from investors with the aid of broker and adviser WH Ireland.

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Velosi looks to AIM

Velosi, which offers a range of services to the oil and gas sector, is currently in the throws of a £10 million share placing ahead of its imminent AIM arrival.

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Bridges catches Chill

Bridges Community Ventures has committed £3 million to a new project to build England’s first real snow Alpine village.

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Velosi looks to AIM

Velosi, which offers a range of services to the oil and gas sector, is currently in the throws of a £10 million share placing ahead of its imminent AIM arrival.

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Bridges catches Chill

Bridges Community Ventures has committed £3 million to a new project to build England’s first real snow Alpine village.

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Probability’s AIM call

Mobile gambling services business Probability is seeking to raise just over £4 million from investors (through a placing at 76p) ahead of its anticipated AIM launch later this month.

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Lion gobbles Kettle Chips

Private equity house Lion Capital is set to swallow premium crisp maker Kettle Foods. London-based Lion should complete the transaction within a month, once the regulators have digested the details.

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Matrix assumes full control at TriVen

TriVen, one of only two VCTs hitherto presided over by a triumvirate of fund managers, is to pass control of its entire portfolio of Matrix Private Equity as it bids to ‘streamline’ its structure and ‘improve shareholder returns.’

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Mergermarket boost for Beringea

Beringea, operator of both the ProVen and ProVen Growth & Income VCT funds, is set for a major cash windfall – courtesy of the Financial Times’ £101 million acquisition of portfolio company mergermarket. The deal sees both trusts realise substantial gains on their previous investment valuations.

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