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Alliance Boots to acquire France's Depolabo
Alliance Boots is to acquire French pharmaceutical distributor Depolabo. The deal, which is subject to approval by the French competition regulators, is expected to complete in the coming months. Depolabo distributes pharmaceutical products to wholesalers, pharmacies and hospitals on behalf of more than 50 manufacturers. It is headquartered in Marseilles, operates four warehouses across France and has approximately 600 employees. Ornella Barra, Alliance Boots' wholesale & commercial affairs director, said: "We are pleased to announce this agreement as the acquisition will enable us to accelerate the expansion of our pre-wholesale and contract logistics services in Europe as well as enhancing our range of added-value services for pharmaceutical manufacturers."
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Catapult helps shoot Atlantic Link into US
Nottingham e-learning business Atlantic Link has sold a 14 per cent stake to private equity firm Catapult. The deal will allow the Strelley Hall company to build its market in the US - it has a base in Atlanta, Georgia. The company has developed a product that enables users to quickly design and deliver online training to thousands of employees. The company's clients already include BT, Waitrose, HSBC, Santander and Barclays. Nottingham law firm Geldards advised on the deal. 
Avingtrans to expand in China
Specialist engineering company Avingtrans, which is based in Nottingham and listed on the Aim market, has made a £3.5m placing to pay for expanding its factory in Chengdu, China. The money was raised by nominated adviser KBC Peel Hunt. Avingtrans was advised by law firm Shakespeare Putsman.
Fox hunted in acquisition
Leicestershire electronics manufacturer Fox Industries has been bought in a £100,000 deal. The business, based outside Earl Shilton, makes military, medical and industrial components. It has been bought by Stadium Group. Its staff will be moved to Stadium's site in Peterborough by the end of the year.
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A&L given record fine after FSA investigation
Alliance & Leicester (A&L) has agreed a record £7m fine with the Financial Services Authority over the way it sold insurance for unsecured loans for three years. An FSA investigation found there was a risk that some of A&L's 200,000 customers may have taken out unsuitable insurance policies. The bank said it had co-operated with the investigation, improved its systems and processes, and made changes to training and monitoring. Margaret Cole, FSA director of enforcement, said: "The failings at A&L are the most serious we have found. This is reflected in the record fine. Customers should be able to rely on impartial advice based on their individual needs and demands. It is particularly unacceptable for a firm to train its advisers to put pressure on customers when recommending insurance cover they have not asked for and may not need." A&L chief executive David Bennett said: "I apologise sincerely for our shortcomings. We will be writing to every customer concerned and working with independent accountants and the FSA to ensure we put right any disadvantage identified.
Job cuts at Artform
Shop display business Artform International is to cut more than 40 jobs because of rising costs. The Loughborough business, part of the industrial giant IMI, is looking to cut more than ten per cent of its 400-strong workforce and has begun a 30-day consultation. Artform, the country's biggest specialist point-of-purchase display manufacturer, claimed the cuts were to tackle to rising costs rather than any loss of business or sales. IMI bought the company for £47m five years ago.
"Duchess" gets gold
Kedleston Hall, which provides the backdrop to Saul Dibb's blockbuster movie The Duchess, scooped gold for best large visitor attraction at the 2008 East Midlands Tourism Enjoy England Excellence Awards. Television personality Dominic Littlewood presented accolades to 16 businesses at a black tie event held in the East Midlands Conference Centre in Nottingham last night. Gold for best small visitor attraction went to Northamptonshire's 78 Derngate, a showcase and tribute to 19th century architect Charles Rennie Mackintosh. The Taste of England category was picked up by Maiyango restaurant in Leicestershire. Buxton Festival won gold for best Tourism Experience.
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Secantor founder retires
Gordon Waine, the founder of Secantor - the network of part-time finance directors - has retired as chairman. He is succeeded by Tony Timberlake, his deputy chairman. Waine, who spent 40 years with Natwest Bank, set up the network in the East Midlands in 2001. It has more than 80 associates across the country.
RBS makes double appointment for East Mids
The Royal Bank of Scotland has made two East Midlands appointments in its structured debt solutions arm, which handles deals for businesses with turnovers of £1m to £25m. Richard Booty will take responsibility for Northampton while Nic Hanlon takes responsibility for Leicestershire.
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