Nelson-based telecoms business Daisy Group has agreed a £75m three-year revolving credit facility with three banks to support its ambitious acquisition plans. The facility, split evenly between Lloyds TSB, Yorkshire Bank and HSBC, replaces its existing facility with Bank of Scotland. Daisy’s chief financial officer Anthony Riley said: “We are convinced this is the right deal for us, strengthening and supporting our model and enabling us to continue with our stated consolidation of the fragmented reseller market place.” Click here for Insider comment.

Swinton telecoms business Communicate Better Group has acquired an IT support provider in Walkden for an undisclosed sum. The company has bought Advance Computer Systems in a bid to broaden the range of services it can offer. Wayne Cartwright, chief executive of Communicate Better, said: “We are dedicated to adding real customer value by extending the reach of our product portfolio and by adding an IT support solution to our service offering we are able to do this.” For Insider comment, click here.

Business vehicle rental broker Nexus Vehicle Rental has acquired Adapted Vehicle Hire (AVH), which has bases in has bases in Chorley and Uxbridge, for an undisclosed sum backed by ISIS Equity Partners. AVH operates in the niche sector of adapted vehicle rental and the deal enables the Pudsey-based Nexus to offer a more comprehensive service. Nexus chief executive Neil McCrossan said: “Disability discrimination legislation has made it more important than ever for businesses to be able to support the needs of the disabled – and vehicle rental is certainly no exception.” For Insider comment, click here.

Cash-strapped Cheshire property developer Eatonfield, founded by Secret Millionaire Rob Lloyd, has drawn down more cash from a facility provided by a joint venture partner. The company has issued 22,235,000 new ordinary shares at 1p each after drawing down £222,350 against its facility with Jenard Properties. It has £350,000 left to draw down from the facility which would provide it with enough working capital to last until mid-July. Eatonfield is working on a scheme in south Wales with Jenard.

The former finance director of Manchester biopharmaceutical company has been acquitted of insider dealing. The Financial Services Authority had brought a prosecution against Andrew King for allegedly passing on insider information to lawyers Michael McFall and Andrew Rimmington to buy shares in the company ahead of a £305m takeover offer by Swiss pharmaceutical giant Novartis in July 2006. All three men were yesterday cleared of the charges following a trial at Southwark Crown Court in London.

AIM-listed TEG Group, which announced plans to acquire Midlands rival Simpro earlier this week, has secured a licensing agreement with a German biogas company. The five-year deal will allow TEG to use UTS Biogastechnik’s anaerobic digestion technology in the UK. UTS will supply all the plant and equipment, while Chorley-based TEG will project-manage all installations and source standard equipment in the UK. The agreement also includes support and training from UTS.

Commercial law firm Addleshaw Goddard has reported fee income of £167.5m for the year to 30 April 2010, a 3.3 per cent decrease on income for the previous year. The firm, which has an office in Manchester, also revealed profits per equity partner for the period rose by 5.19 per cent to £426,000. Managing partner Paul Devitt said: “To have generated income which is down only a little on the previous 12 months feels OK in such a challenging year.”

The full line-up has been confirmed for Insider’s international trade breakfast on 11 June. Phil Southward from Liverpool’s World Expo team will update the audience on recent activity in Shanghai. Paul Pickup from Promethean will then be joined by Adam Howarth from Character World, Qinglin Li from Rowe Hankins and home furnishings entrepreneur Tony Caldeira for a panel debate on manufacturing in China. To register your interest for the event, which will take place at Halliwells in Manchester, click here. You can also submit a question to the panel here.

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Cumbria County Council has announced details of the five developers shortlisted to draw up proposals on the regeneration of Derwent Forest and Broughton Moor. ESH, M Sport, UK Coal, Keir/Kingmoor Park properties and Derwent Forest Developments will now submit detailed proposals by September 2010. Eventual uses for the site include a range of leisure, tourism, business and housing opportunities. Some proposals also include plans for coal extraction. The site is a former Royal Naval Armaments Depot which was bought by Cumbria County Council and Allerdale Borough Council in 2008.