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GE buys Five Arrows
GE Commercial Finance has bought the loan book and business of Manchester-based Five Arrows Commercial Finance from Rothschild. The deal was completed in only four months following an approach by GE in January. The trade finance provider has 400 clients and a £180m loan book covering invoice discounting, factoring and asset-based lending to small and medium-sized companies. GE has a regional office in Sale and it is likely the 60 staff will move there from Manchester city centre. Following the acquisition GE will have over £1bn of assets under management. "As a non bank lender, we're not impacted by the credit crunch and this deal puts us in a strong position to grow further," said Markus Clavin, strategic marketing director for GE.
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Balfour flies in to Blackpool
In a month when airport investments and potential sales are grabbing the headlines, Blackpool International Airport has been acquired by construction giant Balfour Beatty for £14m. Regional and City Airports, the contractor's airport investment and development arm, has bought a 95 per cent stake in the site from Northern Ireland-based Mar Properties. The transaction is subject to approval of the remaining minority shareholder, Blackpool Borough Council, which is expected on 9 May. 
Airport supplier sold
Chorley-based supplier of components to the airport industry Multipart Fleetserve has undergone a management buyout with backing from Venture Finance. The business, which has 30 employees and a turnover of around £12m, has been sold to T123, a company formed by manager Brian Sneyd. Brabners Chaffe Street, DLA Piper, Cobbetts and The Steve Stuart Partnership advised.
Deal-hungry IS Pharma secures funding
IS Pharma, the AIM-listed hospital medicines group based in Chester, has secured an £8m funding package to support its growth plans. The facility, which was provided by Bank of Scotland, follows the recent acquisition of Switzerland-based Specialty European Chemicals AG International for £9.25m. With trade buyers set to play a key role in this year's deals market, IS Pharma plans to continue its growth by acquisition to boost its portfolio of pharmaceutical products.
Caring and sharing in Manchester
Two Manchester nursing homes have changed hands in a multimillion-pound deal that underlines continuing high levels of activity in this sector. Swinton Hall and Shawe House have been acquired by Ampersand Care, which is based in Crowborough, East Sussex. Swinton Hall has a 62-bed capacity and Shawe House can hold up to 33. Jackson Stephen and DWF advised.
NXO heads south
Preston-based marketing and communications company NXO has expanded its national network with six-figure funding from Yorkshire Bank. The launch of NXO Solent, which will cover Portsmouth, Southampton and the Isle of Wight, will add to the company's existing operations in London, Birmingham, Liverpool, Manchester, Belfast and Glasgow.
Second deal for Promotions Space
Wilmslow-based marketing and advertising company Promotions Space has snapped up London-based competitor Brandspace with backing from Octopus Private Equity. The deal, which will boost revenues to well over £20m and the headcount to 75, follows the acquisition of advertising firm Fitting Exposure in December. Octopus has so far invested £4.6m in Promotions Space, which aims to grow organically into a £30m company over the next 12 to 18 months.
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North West sports skills hub to be in Penrith
SkillsActive, the Sector Skills Council for the sports industry, is to locate its North West regional skills centre at Penrith in Cumbria to train staff in outdoor sports businesses. An announcement was made today alongside news that the national hub will initially be at Crystal Palace and then move to the London 2012 Olympic Stadium immediately after the Games.
Business "brains trust" sought by AGMA
The Association of Greater Manchester Authorities (AGMA) is seeking "15 senior figures from the private sector within the city region" as part of a Business Leadership Council to advise a newly formed executive board of the city region body. Headhunters from Manchester-based Robinson Keane are looking for senior figures from financial and professional services, life sciences, media, manufacturing and education for the unpaid roles.
Moat makes move to Fairpoint
Chorley-based debt management company Fairpoint has brought in Christopher Moat from The Royal Bank of Scotland to take up the reins as chief executive after the business searched for a boss with a wider financial services background. Moat, who has also worked at Direct Line, Churchill and Green Flag, will replace Andy Redmond, who will become non-executive chairman. Fairpoint has battled its way through the recent downturn in the market for individual voluntary arrangements and is now looking to strengthen its wider business model.
Manchester needs a mayor, professionals chief claims
Daniel Charles Mouawad, chief executive of Pro.Manchester, the city's financial and professional services body, believes a directly elected mayor would mean better governance for the city. He said: "Manchester is the country's largest economic engine outside London and the South East and it should be in charge of its future economic destiny. At present, strategic issues which straddle respective boundaries must be solved by local authorities in Greater Manchester collaborating, but there is still a desire by many to have something more decisive and significant to control this growing economic powerhouse. A mayor could be the solution."
Luca takes national role at ITV
ITV has appointed Jane Luca to a new role as head of regional affairs as part of the corporate affairs team. She will be responsible for consulting with policy makers, including lobbying in the run up to Ofcom's Public Service Broadcasting Review.
Mando wins UU website contract
Liverpool-based website developer Mando Group is to rebuild the website of United Utilities, the region's only FTSE 50 company. The company was hired after a five-month tendering process and will work alongside RedDot Enterprise Content Management. Denise O'Connor, new media manager for United Utilities, said: "We selected Mando Group from over eight bids from national competitors because of their deep understanding of us as an organisation, their focus on usability, creative execution and technical integration experience."
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West Lakes reports strong year
Cumbrian regeneration company West Lakes Renaissance has invested £29m in Furness and West Cumbria over the past year. According to the group, the money has secured important milestones for its work programme, including the £10.5m channelled into The Waterfront Barrow-in-Furness, a business park and mixed-use development on Barrow dockside.
CBRE takes on Bark Street
Property consultancy CB Richard Ellis has been tasked with filling up a new grade A office scheme in Bolton. Gordon Moon's 120 Bark Street development provides 59,648 sq ft of office space next to Wilson Bowden's proposed £100m retail development. Available to lease on a floor-by-floor basis, suites start from 2,798 sq ft.
Full house at Catalyst
Catalyst Trade Park in Widnes is now fully occupied following the lease of the last remaining unit and land plot. Automotive servicing company Appletons Commercial Engineering has taken a three-year lease on a 7,000 sq ft building and construction business May Guerney has signed an agreement to rent 0.25 on an acre for five years.
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