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Deals frenzy across the region
Businesses looking to beat the deadline for the new capital gains tax rate of 18 per cent have kept the region's bankers and advisers working through the night before Saturday's deadline. A survey by Insider found deal flow is double that of last year, in some cases, triple. The Royal Bank of Scotland has done ten deals this year related to the tax change, with six to complete by Friday. Peter Terry at BDO Stoy Hayward in Manchester, said: "We've had five deals driven by the tax changes." David Travis of CLB Coopers, said: "The number of deals for this time of year is phenomenal." John Green of Pierce Corporate Finance, said: "We have not left our desks for two days solid." Adrian Gare at Baker Tilly, added: "The deadline really has brought a lot of succession planning to the front of many people's minds."
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Trinity swoops for Rippleffect
Newspaper giant Trinity Mirror has acquired Liverpool-based web design and development business Rippleffect Studio. The deal, which will see founder Ben Hatton - a former Insider Young Entrepreneur of the Year - remain in charge of the company, was structured with an initial consideration of £3.2m plus a deferred consideration of £2.6m depending on performance over the next three years. The company is expected to generate revenues of around £3m in its first year of ownership. Altium, Halliwells and Cobham Murphy advised. 
Hemmings sells Pontin's
Lancastrian leisure tycoon Trevor Hemmings has sold holiday camp business Pontin's in a £46m deal. The deal sees seven Pontin's holiday villages across the UK bought by investment house Ocean Parcs - a team led by former Pontin's chief executive Graham Parr and ex-Matalan finance director Ian Smith. Hemmings will retain a small shareholding. The new owners have promised to invest in the company's estate.
LDC backs Horler again
LDC has again backed La Tasca chief executive James Horler in an institutional buyout to take on the rollout of Mediterranean restaurant group Ego, which currently has five North West venues. Horler's five-strong team, which has a significant minority stake, bought La Tasca in 2001 and increased profits four-fold before selling out to Tragus in 2007. LDC will invest up to £9m to fund the acquisition and 36 new outlets. The buyout provides a full exit for Ego founders Jason Ellison and Jonathan Poole and will see ex-Harry Ramsden man John Barnes join as a non-executive director.
Accountancies find Moore strength together
Lancashire-based accountancy Moore & Smalley has merged with regional rival Lonsdale & Partners. The new business, which will trade as Moore & Smalley, will be one of the region's largest accountancies with a fee income of £10m, 19 partners and 200 staff. It also breaks into the top 50 bracket of the UK's largest accountancy firms. Moore & Smalley has offices in Preston, Blackburn and Castle Donington, while Lonsdale & Partners is based in Lancaster, Kendal and Kirkby Lonsdale.
Sage move as Beaton exits in £21m deal
Manchester-based construction software company Tekton Group has been sold to business software giant Sage for £21m. The deal provides an exit for founder and chief executive Richard Beaton, who held a 43 per cent stake, and private equity house Inflexion, which took a 40 per cent stake back in 2006. The rest of the shares were held by management and YFM Private Equity.
Brammer powers up with £9.5m swoop
Manchester-based factory parts supplier Brammer has acquired CBS Rotary Power Motion, of Kidderminster, for around £9.5m. Brammer has a £120m war chest for acquisitions as it motors towards becoming a £500m business.
Got it covered
National flooring retailer Carpetright has acquired Melford Commercial Properties, the parent company of Manchester-based Carpetworld, for £7.2m. Carpetworld operates from 13 locations with around 80 employees. Melford owns four freehold stores and two long-leasehold stores, which are all occupied by Carpetworld. In the year to 31 December 2007, Carpetworld posted a turnover of £4.35m and a pre-tax profit of £181,000. PKF and Brabners Chaffe Street advised on the deal.
Backers line up with £400,000
2D Heat, a heating technology developer, has secured funding of £400,000 from Merseyside's Special Investment Fund's Liverpool Seed Fund and private investors. 2D Heat has developed a new spray-on heating element that can replace traditional wire coil elements in white goods from kettles to tumble dryers.
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Be wary of back-door green taxes - BT boss tells CBI dinner
Ben Verwaayen, the chief executive of BT, told the North West CBI dinner in Manchester last night that businesses can grow and be green, but needed encouragement through the tax system and through a culture change to do this. He said BT now has 40,000 employees working from home. But he also warned business to be "cautious" about taxes being introduced "under the disguise of green".
Triple the Ribble flavour
Ribble Valley Inns is to open a third gastropub in Lancashire at the Clog & Billycock in Pleasington (posh Blackburn). The first two sites - The Three Fishes at Whalley and The Highwayman near Kirkby Lonsdale - have achieved critical and commercial acclaim. The business, founded by chef Nigel Haworth and hotelier Craig Bancroft, is funded by the Walker Family Trust established by the late Jack Walker.
BBC Radio Manchester to launch regular business slot
A new Manchester business programme every Thursday from 6pm will debut on BBC Radio Manchester next Thursday, 10 April. The hour-long programme will feature news, interviews and features from a regular panel of guests including Stephen Falder of HMG Paints, Moneeb Awan of eSay Solutions and Michael Taylor from Insider. The new show is one of a number of sweeping changes introduced this week by station chief John Ryan.
Daresbury - just another business park?
Minister for science and innovation Ian Pearson's visit to Daresbury today has done to little to quell fears that the campus has been cut out of the government's plans. Although £25m has been granted for new facilities, this will initially fund grow-on space for the campus' Innovation Centre for start-up businesses, rather than the Science & Technology Facilities Centre, which was intended to develop world-class projects but has suffered hefty cuts. Lee Jones, branch chairman of the Prospect union, said: "There's no science that we can see going on here."
Blackburn bed business bust
Sleep Depot, which used to trade as Bensons for Beds, is to close with the loss of 367 jobs. The Blackburn-based business traded through 72 Land of Leather and 31 Paul Simon stores. James Gleave of administrator Kroll said: "The trading environment for all retailers is particularly tough at present and it is impossible for The Sleep Depot to continue to trade."
Football support
Macclesfield-based Armadillo Sports Design, which recently launched a new calf and achilles protector, has signed a commercial agreement with the Professional Footballers Association to promote its leg protection product among players.
All change at WH Ireland
A consortium led by ex-Conservative Party treasurer Lord Marland has bought a stake in WH Ireland. Board members at the Manchester stockbroker are said to be trimming their stakes ahead of changes in capital gains tax. Sir David Trippier and John Lawrence will leave the board, with Marland and Rupert Lowe, ex-chairman of Southampton FC, becoming non-executive director and chairman respectively. The group, which also includes Carphone Warehouse co-founder David Ross, has acquired 1,710,000 ordinary shares at 100p each, an initial 9.94 per cent stake that subject to regulatory approvals will rise to 26.05 per cent on the issue of new shares.
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Mercury rising
Stanley International Betting has taken 15,522 sq ft at Liverpool's Mercury Court office building, where it will pay £16 per sq ft for refurbished accommodation, on a ten-year lease. Paul Boothman of landlord Space Northwest said: "It is a pleasure to secure such a well-established company at one of Liverpool's main office locations." CB Richard Ellis acted for Space Northwest, with Stanley being represented by Edward Symmons.
Bluemantle's Select deal
Select Plant Hire, a subsidiary of property giant Laing O'Rourke, has taken 96,000 sq ft of industrial space at Wincham Industrial Estate near Northwich. The deal with developer Bluemantle brings to an end Select's two-year search for a North West base. A ten-year lease has been agreed on both the building and over six acres of external storage.
Blears holds up Beetham
Liverpool developer Beetham has had its proposed tower on London's South Bank called in for an inquiry by Secretary of State Hazel Blears. The £600m scheme was given planning permission in December 2007 after Beetham scaled its plans down from 69 storeys to 42, but Blears has asked for assurances that the scheme is in accordance with Southwark's Unitary Development Plan and the wider London plan.
Regus to the rescue
Serviced office provider Regus is to take over the running of three sites formerly managed by troubled operator Stonemartin, including the site in Manchester's Peter Street. Funds Morley and Hermes jointly own the portfolio, which also includes sites in Birmingham and Reading. Mark Dixon, chief executive of Regus, said: "Our partnership with Morley and Hermes enables us to provide our clients with yet more options in three high-quality buildings in the heart of three major UK cities."
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