North West logistics giant Stobart Group has secured a £100m loan from a new fund set up to support medium-sized businesses. The ten-year loan has been provided by M&G Investments through its UK Companies Financing Fund. It is the first investment that the investment arm of Prudential has made through the fund. Stobart will use the cash to repay existing bank debt and to finance further development at Southend Airport. Panmure Gordon advised M&G, while BDO acted as financial adviser to Stobart.

3i is back in the game and ready to fund deals - in full if necessary - and has €2bn of funds to invest through its Buyout and Growth Capital funds. David Colclough from the Manchester office of the UK's oldest venture capital investor told Insider: “Now is the time to be opportunistic. My own view of the economy is that there are still some challenges, but we feel we’re through the worst. There are definite signs of momentum coming back which has given us the confidence to invest.” Insider editor Michael Taylor discusses 3i in his Deals in Focus blog.

Shower and tile maker Norcros, based in Wilmslow, has agreed to sell its 25.5 per cent share in Australian ceramic tiles and adhesives business RJ Beaumont & Co for approximately £4.3m. The company expects the deal to be completed by 30 June. It will represent a profit on disposal of £2.3m as the carrying value of the investment was £1.7m at 31 Mach 2009. Norcros will use the proceeds to reduce its £15.9m net debt.

Phil Storton, co-founder and managing director of The Raft marketing agency in Wilmslow, has left the company. Storton will retain only a small shareholding in the business, while creative director Phil Howells, who will manage the company until Stortford is replaced, has become a major shareholder. Non-executive directors Roger Ward and Martin Anderson will also take a more active role in the interim. Stortford is moving to Australia, prompting the restructure.

Bolton motor dealer Williams Group returned to profit last year following a “substantial turnaround” from its 2008 figures. The company reported a pre-tax profit of £3.6m for the 12 months to 31 December, up from a loss of £635,000 a year earlier. Overall sales fell 8.7 per cent to £223m, with sales of new BMWs down 13 per cent and Land Rover down 6 per cent. However, new MINI sales were up 21 per cent. Staff numbers fell 14 per cent to 492 employees. In the latest accounts for Williams Motor Co (Holdings), the directors warned that the current market remained difficult.

The chief executive of Manchester’s Printing.com was this morning confident about the company’s long-term prospects despite announcing a 17 per cent fall in full-year profits. Tony Rafferty told Insider that the company was well-placed to take advantage of an upturn in the market after remaining profitable and cash generative. It is also looking to further expand its network in countries such as France. Turnover dipped 0.1 per cent to £14.46m in the year to 31 March, while pre-tax profit fell to £1.7m. Rafferty said profits were hit due to the cost of supporting discount offers by franchisees.

This year’s Big Chip Awards is now little over a week away and tickets are selling fast. The 2010 awards have attracted record number of entries from companies across the North West, with 62 entries from more than 40 businesses shortlisted. Winners will be announced at a ceremony on 10 June at the Palace Hotel in Manchester. To order your tickets for the awards contact Dara O’Hanlon on 0161 214 5200 or visit the Big Chip Awards website.

Creative agencies in Manchester have been invited to access an £18m fund to help develop future digital businesses through a competition being held by the Technology Strategy Board. Companies can bid for a share of the fund by putting forwards ideas for research and development projects, with each bid from a creative business having to involve a technology partner from industry or academia. Large projects can receive up to £3m in funding. The Creative Industries Knowledge Transfer Network is holding a briefing on 24 June at the Bridgewater Hall to provide more details.

Cheshire property developer Eatonfield has appointed Brian Corfe as its new executive chairman and Duncan Syers as its new finance director. Corfe has replaced Paul Williams who has retired from the business after a year in the role. The appointments were announced following a general meeting at which the developer gained shareholder approval to draw down the remaining £572,350 from a £900,000 equity facility provided by joint venture partner Jenard Properties. It expects the cash will provide it with sufficient working capital until mid-July.

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