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Landsbanki puts £56m into cable deal
Manchester-based B3 Cable Solutions has acquired the telecommunications and railway signalling cable division of Spanish company Nexans. The deal, which included a £56m asset-finance package from Landsbanki, is the third acquisition by the B3 Group in two years. Steve Ellis, managing director at B3, said: "The acquisition enables B3 to expand our product offering and customer service to a wider European audience."
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Murphy goes back to banking
Tim Murphy has left Deloitte's debt advisory practice in Manchester to move to a senior role at Bank of Scotland. The former head of corporate in the north for rival The Royal Bank of Scotland (RBS) told Insider he will continue to be based in Manchester: "I will be taking on a fresh challenge with a remit to create a team doing national large corporate business covering England and Wales from centres in London and throughout the regions." Murphy set up the national team at Deloitte with Phil Tarimo, his wing man at RBS. Tarimo joined Investec in April. Nigel Birkett will replace Murphy at Deloitte's debt advisory team. 
Southport deal a sign of the times
In yet another sign of consolidation in the financial services sector, Southport-based Ludlow Insurance Services has completed the first in a series of planned acquisitions with the purchase of Philip Gill Financial Management (PGFM), based in Lytham St Annes. Ludlow, established in 1993, provides financial and investment management services to private individuals.
MBO on the rails
Rail engineering business Selectequip has undergone a management buyout funded by The Royal Bank of Scotland and led by directors Peter Ryan and Henry Spence. Advisors were Haines Watts and lawyers were Turner Parkinson.
Forshaw lands finance
Liverpool-based building management company Les Forshaw has secured an expansion finance package from Yorkshire Bank. The company specialises in fire and flood insurance-related repair work and is the nominated contractor for claims handlers and loss adjusters such as AMG, QCRN, Homeserve and UK Assistance. Director Liam Hanlon said: "We have plans in place to open new offices to service the Cheshire, South Manchester, Shropshire and Staffordshire area post codes by the end of the year."
Cheshire business takes a Liberty
Cheshire-based telecoms supplier Liberty Bell Voice and Data has acquired its sister company Liberty Bell Network Services to bring an entire telecoms portfolio under one roof. Director Warren Bone, who together with Chris Fargher bought the assets of Liberty Bell one year ago, said: "We are into our second year of business and expect turnover to be in excess of £1m during the current financial year."
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Liverpool has China in its hands
Liverpool will be the only UK city outside London to exhibit at the World Expo 2010 in Shanghai, its twin city, it was confirmed last night. The city will spend £1.5m on its presence at the world's biggest business fair - an event that runs for six months and is held every five years. Seventy million visitors are expected in 2010.
Manchester should stay confident says Chancellor
At the launch of Manchester's £1.35m study into its long-term prospects, the Chancellor Alistair Darling said on Monday that slower growth shouldn't dent the confidence of Manchester's economy. "This is the best possible time to look at where you are going in the next 30 years I have every reason to be confident about the North West and Manchester," he said. He launched the Manchester Independent Economic Review, a year-long study of Manchester's economic potential commissioned by Manchester Enterprises and funded by the National Endowment for Science, Technology and the Arts (NESTA), the NWDA and Greater Manchester partners.
UU flies high but Green stays calm
United Utilities has posted higher-than-expected annual profits and beaten regulator Ofwat's leakage targets for the second successive year. The Warrington-based group, now through its phase of selling off subsidiaries and free for now of takeover talk, logged pre-tax profits of £475.6m for the year to April 2008 - an increase of 17 per cent and comfortably above the £461m expected by the City. But chief executive Philip Green urged caution, saying that with soaring energy costs the industry faces tough times.
Football bosses on the move
The merry-go-round in football could be spreading to the boardrooms. The Times is reporting this morning that Liverpool Football Club co-owner Tom Hicks has approached Manchester City chief executive Alistair Mackintosh about taking over from Rick Parry. City have appointed a new executive chairman, Garry Cook, who is leading talks to lure Mark Hughes and his team from Blackburn Rovers.
Irlam company goes German
Irlam-based engineering consultancy Morson Projects is a step closer to forming a working partnership with German counterpart Yacht Teccon after signing a letter of intent with the company. The agreement to co-operate on joint projects represents a further step in Morson's strategy to supplement organic growth and acquisitions with strategic alliances to increase its presence in Europe.
FEA wins against former director
Manchester-based Fire Engineering Associates (FEA) has been awarded in excess of £250,000 against a former director who moved projects worth more than £500,000 to his new business interests, Dynamic Smoke Control and Interglaze. The settlement, ruled by the High Court of Justice in Manchester against Ian Andrew Moore of The Old Hall, Laycock, West Yorkshire, includes assessed profit and legal costs.
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Argent bags Arts Council
The Arts Council is to become the anchor tenant in Argent's creative sector-led office scheme The Hive, Insider understands. The organisation will take 18,000 sq ft of space in the 76,000 sq ft first phase of the scheme in Manchester's Northern Quarter. The project, designed by HKR Architects, is expected to trigger a regeneration push around Stevenson Square and will be developed to a BREEAM Excellent standard.
MCR gets into Liverpool
Manchester-based MCR has made its first Liverpool acquisition, paying British Land £10.75m for 2 Moorfields. The building comprises 63,494 sq ft over five floors and is occupied by Norwich Union, Yorkshire Bank and the Secretary of State for Health. Investment director Mark Hayes said: "We have been looking to gain a foothold in Liverpool for some time. We'll look to upgrade accommodation and common parts over the next few years, enabling us to move rents forward."
Wereldhave towers above market
Didsbury's Towers Business Park, owned by Dutch investor Wereldhave, has secured lettings from international print company PrintSoft, which has signed a ten-year lease on 7,700 sq ft, and UK Housing Alliance and Energize Recruitment, which between them have taken 3,500 sq ft. Will Lewis of joint agent WHR said: "As funding from the banks has become tighter, fewer people are looking to buy. Consequently there has been increased demand for high-quality leasehold stock."
Orbit lands new Bodycote base
Bodycote, the Macclesfield-based metallurgical services group, has signed up with Orbit Developments for a new headquarters. It will take the 13,430 sq ft Springwood Court at Tytherington Business Park. Orbit has also confirmed a deal at Charter House, Altrincham, where engineering consultancy Mott MacDonald has taken 9,662 sq ft. It will pay £15.95 per sq ft on a five-year lease.
Spring clean for Magnus
Macclesfield-based investor and developer Magnus has won planning consent for its £2.5m refurbishment of the 38,000 sq ft 19 Spring Gardens in Manchester and has appointed Preferred Office Environments as fit-out contractor. Work is expected to be complete by September 2008.
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Insider hosts first business event at Midland Hotel
Insider hosted the first business event at the reborn Midland Hotel on Morecambe promenade yesterday. A group of Lancaster and Morecambe business people enjoyed a tour of the art deco hotel and discussed ideas for regeneration in the resort at a lunch sponsored by accountants Moore & Smalley. Property developer Urban Splash bought the building in 2003 and has returned it to its former splendour with grants from the NWDA, English Heritage and the Heritage Lottery Fund. The hotel manager, Matt Redhead, said the hotel is full throughout June and business events and functions are booked throughout the year.
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