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Top story
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Stobart buys into Thames Gateway with airport acquisition
Cumbrian haulage group Stobart has bought Southend Airport from Regional Airports for £16m, with a further £5m to be paid depending on aspects of the airport’s development. The deal has been partly paid for by a share placing of 15.7 million ordinary shares at 73 pence each, raising £11.5m. The airport is part of the Thames Gateway development zone, which includes the new DP World London Gateway Port, due to open in 2010. Stobart plans to grow both freight and passenger flights from Southend. The airport, which in the year to 31 March 2008, had a total income of £6.9m and an operating profit of £800,000, is less than an hour’s train journey from London Liverpool Street and 42 minutes from Stratford, the site of the 2012 Olympics. Chief executive Andrew Tinkler said: “This is a major opportunity to advance our multimodal strategy. At one stroke, we have found our southern base and greatly enhanced our position as a point-to-point service provider for customers in the UK and Europe.”
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Deals
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Fused together
Fused Group, a provider of internet and communications solutions based in Manchester, has acquired Smart Devices, a Surrey-based distributor of mobile and wireless computing solutions. Mark Salvin, Fused’s chief operating office, said: “The acquisition is part of the group’s continued growth strategy and is in line with our expectations for 2008’s performance. Our growth is on target despite a tough climate and we are confident our unified communications positioning will allow us to capitalise on the drive to reduce costs and streamline business processes.” Smart Devices’ products and services will operate under the new Fused Mobility branding.
Shaping up
Auto bodyshop chain Karl Vella, which operates in Preston, Southport, Skelmersdale and Blackburn, has merged with Cheshire-based KC Autos and Yorkshire’s Alton Cars to form a business with 12 bodyshop sites, called Synergy Accident Repair Group. A joint call centre has been set up in South Yorkshire. Demand from other bodyshops to join the group means that the founders are now considering extending across the UK to create a company with forecast turnover of £300m a year.
TP launches online business broker service
Manchester law firm Turner Parkinson has launched an online service to introduce business buyers and sellers. The website, known as tp deals online, has been set up following increased demand from accountants, corporate financiers and banks for an instantaneous flow of businesses and properties for sale in the region. It is already proving popular with turnaround specialists and insolvency practitioners, particularly where there is a need to identify a purchaser for a pre-pack of a funder appointed administration.
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Business
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Enegi awarded new exploration licence
Manchester-based Enegi Oil, which last week confirmed that it has found oil and gas at one of its wells in the Canadian province of Newfoundland, has won the right to explore another area of land in the province. The company’s subsidiary PDI Production (PDIP) will investigate an offshore 523,826 acre area over the next nine years. As part of the agreement, PDIP has committed to invest around £300,000 in the project by 2014.
Byotrol cleans up
The interim results of a study carried out by Central Manchester and Manchester Children’s University Hospitals NHS Trust (CMMC) have revealed that technology created by Manchester-based Byotrol could help to reduce the prevalence of healthcare-associated infections. The results, which will be announced at the Federation of Infection Societies Conference in Cardiff later today, show that that the number of patients who developed diarrhoea due to the clostridium difficile bacteria was less in hospital wards cleaned with Byotrol compared to those cleaned with bleach. “These results show that it is possible to drive significant reductions in one of the most persistent and challenging micro-organisms found within the healthcare system,” said Dr Richard Deed of NHS Innovation Hub of TrusTECH, one of the study’s supervisors.
What’s in the box?
Wigan-based organic box delivery company The Farmshed has appointed Peppermint Green, the eco-division of Hale-based marketing communications agency Peppermint PR, to handle its media relations. Founded by brothers Tom and Rich Cropper in 2007, The Farmshed provides customers across Lancashire and Cheshire with organic, locally sourced fruit and vegetables, organically reared meat and sustainably sourced fish. Recent partnerships with two other box companies – Lyncroft Farm, Ormskirk and Howbarrow Farm, Cumbria – form part of The Farmshed’s plans to develop the business in terms of product range and regional reach.
Lancaster feels the power
Lancaster University is to host the launch of a new group dedicated to exploring the tidal energy potential in the North West. The Northwest Tidal Energy Group will examine the region’s ability to extract tidal energy from the Irish Sea, as well as sharing information and encouraging debate. The launch on 17 December will bring together key stakeholders from industry, the public sector and academia and outline key potential tidal projects in the region - the Mersey, the Solway and Morecambe’s Bridge Across the Bay.
Dasgupta joins the University of Manchester
Renowned economist Professor Sir Partha Dasgupta, an expert on international development and the environment, has joined the University of Manchester on a part-time basis. He will work as a as a Professor of Environmental and Development Economics at the university’s Sustainable Consumption Institute and Brooks World Poverty Institute. Part of Dasgupta’s research will focus on the link between Third World poverty and localised environmental problems.
Goddard moves from Splash
Lucy Goddard has been appointed as a director of Manchester interior design business NoChintz. She joins from developer Urban Splash, where she worked on projects including the Midland Hotel in Morecambe and Timber Wharf in Manchester. At NoChintz, Goddard will focus her energies on show apartments, homes and office design.
Beyond the doom and gloom
Almost two-thirds of entrepreneurs in the North West are already suffering in the wake of the downturn, according to research from entrepreneur think tank the Tenon Forum. Nearly half of entrepreneurs have seen a drop in demand for goods and services compared to 12 months ago and 29 per cent have been forced to cut staff. Just 60 per cent are feeling positive about business prospects over the coming year. But for some there is a silver lining, as the economic downturn has presented 26 per cent of the region’s small and medium-sized enterprises with new business opportunities, including taking clients from competitors, making acquisitions and buying assets or stock at more competitive prices.
More woes for JJB as OFT demands answers
The Office of Fair Trading (OFT) is to investigate Sports Direct’s stake-building in troubled Wigan retailer JJB Sports. In October Mike Ashley’s business, described as a “welcome investor” by JJB chief executive Chris Ronnie, paid £3.4m to take the stake from 16 to 21 per cent. The OFT has asked for submissions within a fortnight and, should it conclude that Sports Direct has “material influence” on JJB, it could force it to sell the stake. JJB is currently in talks with JD Sports Fashion and former owner David Whelan regarding the sales of fashion stores and health clubs respectively.
Expansion for recruiter
Andersen Banks, the Manchester-headquartered industrial sales and technical recruitment consultancy, has expanded several divisions, bringing in new recruits. It has taken on three additional employees - two for its construction and engineering technical team, one in the industrial and engineering sales team - as it seeks to expand its share of the market.
Cumbria launch schools funding bid
Cumbria County Council has submitted an £80m bid to the government that, if successful, could transform secondary education in west Cumbria. The funding, part of the Building Schools for the Future programme, would be used to improve four existing schools as well as constructing a new school in Workington. “The case for investment in west Cumbria is a very strong one,” said Cllr Anne Burns, Cumbria County Council's cabinet member for children’s services. “The good news for schools in west Cumbria is that we’re aware of their needs and we’re fighting hard for the funding needed to address them.” A decision is expected in spring 2009.
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Property
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Tague on Tour - reasons to be cheerful
As a gloomy 2008 draws to a close, award-winning Insider property writer Neil Tague turns his attention to the year ahead. In this month's edition of his online column, Tague on Tour, Neil peers into the darkness to find some much-needed spots of light. "Maybe in future goggle-eyed councils won’t listen to people with no development track record promising in good faith 'of course we can build a skyscraper, nothing to it!' Here’s hoping anyway," he says. Click here to read more.
Avantage launches Handforth scheme
Avantage, a partnership comprising Harvest Housing Group, MJ Gleeson and Nationwide Building Society, has launched its £10m Oakmere development in Handforth, Cheshire. The 60,000 sq ft site will provide accommodation and extra care facilities for residents over the age of 60. This is the first of five Cheshire County Council PFI projects to go on sale with 53 residential units available. Further schemes are underway in Ellesmere Port, Crewe, Middlewich and Winsford.
DJ looks to plug BDO gaps
Consultancy Drivers Jonas is marketing 35,000 sq ft of offices in three Manchester buildings on behalf of accountancy firm BDO Stoy Hayward. The space includes a 10,000 sq ft sub-let unit in Spinningfields’ 3 Hardman Street, where BDO itself is yet to move in, 19,000 sq ft at BDO’s existing Manchester office on Cross Street and two floors at 26 Pall Mall.
Hat-trick for North West in London
Three winners of this year’s North West Regional Construction Awards have gone on to win accolades at the National Constructing Excellence Awards in London. Manchester Civil Justice Centre won project of the year for Mott McDonald, Liverpool Vision was recognised as client of the year and Conlon Construction won SME of the year. Manchester City Council was commended in the innovation category.
LSH appointed in Wilmslow
Petros Development has appointed consultancy Lambert Smith Hampton to market 1 Kings Close in Wilmslow, a speculative office development in the town centre. Due to be ready for occupation in spring 2009, the building will provide 10,415 sq ft of grade A office accommodation over three floors and has been designed by Altrincham architect Pozzoni.
Hyde Point fills up
Agency Colliers CRE has sold a 4.918 sq ft unit at Hyde Point, east Manchester to design and fit-out company GF Holding. The deal follows two recent transactions completed by Colliers for developer Kilmartin - one to Norwood Partition Solutions and one, jointly with P3 and King Sturge, to Manbat.
Two lettings at the Gerard Centre
Property investment company Hollins Murray Group has secured two new tenants at the Gerard Centre in Ashton-in-Makerfield, near Wigan. Betting chain William Hill and discount retailer Quality Save have agreed leases of 20 and ten years respectively at the 63,000 sq ft centre.
University sells student accommodation…
The University of Salford has sold off a portion of its student accommodation to Campus Living Villages, one of the largest providers of student accommodation in the world. The company will be responsible for managing 1,400 student residences in four accommodation blocks at the university. Under the terms of the deal, Campus Living Villages will also invest £2.6m on the refurbishment of two accommodation blocks over the next two years, while it will also take on 37 of the university’s staff. Jan Wilman, the university’s director of commercial services, said the move will help to create “top-class” accommodation for students.
…and heads to Malaysia
A five year partnership agreement has been signed by the University of Salford, the Malaysian Construction Industry Development Board (CIDB) and University Technology Mara to help develop a masterplan to boost the profitability of Malaysia’s construction sector. The scheme will see the university’s Research Institute for the Built & Human Environment become the official research partner of the CIDB’s Construction Industry Masterplan. The initial focus of the partnership will be to introduce advanced off-site construction manufacturing in the form of prefabricated concrete-framed buildings.
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And finally...
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New Insider out this week
The December issue of Insider, available now, includes: our review of the year in North West business; all the stories from the Dealmakers Awards; what Peel Holdings managing director Andrew Simpson had to say at Insider’s latest breakfast briefing and an interview with David Cartmell, chairman and chief executive of British Water Additives, the Trafford business recently bought by Bahrain’s United International Bank.
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