| - |
|
Top story
|
Punching below its weight
Punch Taverns has brought forward its trading statement to play down fears that it might have to restructure its debt after its share price tumbled. Like-for-like trading for the year to 21 June declined in the Burton-upon-Trent company's leased estate by 3.4 per cent and managed sales were down 3.6 per cent. Chief executive Giles Thornley said: "Punch remains extremely robust from an operational and financing perspective, despite the challenging consumer environment. We continue to be confident of meeting the market's full-year profit expectations as well as continued value creation over the medium and long term."
|
Harpin scoops top gong
One of the West Midlands' leading businessmen has scooped the top accolade at the South Region final of Ernst & Young's Entrepreneur of the Year. Richard Harpin of Homeserve won the overall entrepreneur and master awards at the London Hilton Metropole Hotel. The chief executive of the Walsall-based business, which specialises in emergency call out and insured repairs for householders and corporates, was commended by judges for his "focused strategy", "enthusiasm" and "entrepreneurial drive". 
New deal for education in Stoke-on-Trent
One of the Midlands' largest painting and maintenance companies has sealed a contract with Stoke-on-Trent College, among the first of its type in the country. J & S Seddon has pledged to put its entire workforce through a programme of training, culminating in an NVQ. Over the next three years 800 people will receive training at the college's Moorland Road campus.
Taxi plans accelerate for Manganese Bronze
Manganese Bronze, the Coventry group that makes the London taxi, has produced the first prototype of its new TX4 model at its Chinese joint venture, LTI Shanghai. The TX4, set to be the vehicle that catapults the distinctive taxi onto the world stage, will go through a testing programme with plans to start commercial production at the end of 2008. Chief executive John Russell said: "We're pleased to have passed this milestone on the journey to commercial production of the world-famous London taxi in China."
|
AAA gets new heart from Core
Aberdeen Asset Managers has struck a partnership with Core Capital, under which Core will boost Aberdeen's capacity to invest private equity in deals, raising the current ceiling for management buyouts, expansion and replacement capital from £5m to £10m.
CareTech takes care of Valeo
The Birmingham office of law firm Pinsent Masons has acted for CareTech Holdings on its acquisition of Valeo for up to £15.3m and the proposed placing by CareTech of more than seven million new ordinary shares. Valeo provides specialist services for adults with learning difficulties including residential care and supported living schemes.
Friends recruit Masstemps
Three friends from the Black Country have turned the dream of owning their own business into reality after completing the management buyout of Dudley-based Masstemps, a specialist in industrial recruitment. Andy Jay, Ian Bowen and Matt Ford bought the business from the Allied Stainless Group.
Powersource charged up for sale
West Bromwich-based battery company WB Powersource has been sold to WB Holdings. Following the deal, brothers Richard and Chris Webb will remain as shareholders. Hawkins Hatton and accountancy Garratts advised on the deal.
|
Going Places
Birmingham's newest residential letting agent has relocated to Brindleyplace as it looks to establish itself as a major player in the city centre property market. Places, which is taking a ground-floor unit at Four Brindleyplace, is set to open in the first week of July and will specialise in residential lettings at many of the city's most sought-after developments and locations.
New premises provides lift for Jofson
A forklift truck supplier is on the move after buying a new freehold industrial property at Aldridge in the West Midlands. Units 8 and 9 at Westgate Park, Tintagel Way, have been bought by Mitsubishi forklift truck dealer Jofson from developer Hortons Estate.
|
Willoughby feathers nest as profits soar
The founder of one of the region's largest PR consultancies, Julia Willoughby, is to step aside as managing director after nearly 16 years at the helm. Taking over are Jane Ainsworth, managing director, and Jo McCarthy, deputy managing director. Willoughby, a former CIPR Midlands PR Professional of the Year, will continue as chief executive. The move follows a good year for Birmingham-based Willoughby with a string of high-profile account wins - Tesco, Toby Carvery, Innkeepers Fayre, Westfield, Emda and Laing O'Rourke.
Maxwell hammers home promotion
Fracino, the UK's only manufacturer of cappuccino and espresso machines, has appointed a former Rolls-Royce engineer as its new managing director. Adrian Maxwell was a production engineer at the Rolls-Royce site in Coventry before he joined the company, which is based in Birmingham. He is the son of Fracino founder Frank Maxwell and steps up from his previous position as Fracino's technical director.
Poole dives in at Yorkshire Bank
Martin Poole has been appointed a director in the Midlands specialist and acquisition finance team at Yorkshire Bank in Birmingham. He joins from Clearwater Corporate Finance.
Construction chief quits Pinsent for London
Vijay Bange, partner and Birmingham head of construction at law firm Pinsent Masons, has quit to join the construction team at London law firm Trowers & Hamlins.
Embley embarks for Barclays
Barclays Wealth in Birmingham has lured Mark Embley from rival UBS Wealth Management to join its high-net worth private banking team. Embley, who focuses on entrepreneurial wealth, will assume responsibility for attracting new business. For the past three years he has also been regional president of the Securities & Investment Institute in Birmingham.
|
|
Contact Us
Insider Weekly
Canterbury House
85 Newhall Street
Birmingham
B3 1LH
Telephone: +44 (0)121 232 0980
Email:
editor.mids@newsco.com
|
|
Subscribe
To subscribe to the eBulletin,
click here.
|
|
-
|
