Cheshire property group Eatonfield, which last week reported a loss of £5.1m for the six months to 31 December, has drawn down £250,000 from an equity facility provided by joint venture partner Jenard Properties. The cash is part of a £900,000 facility that is available to Eatonfield before 31 August. In a statement to the Stock Exchange, the AIM-listed company said Jenard has also agreed to make a further £250,000 available under the facility, which is subject to the same warranties, terms and conditions. It added that the remaining funds available, if drawn down in total, will provide it with sufficient working capital until 31 August. Eatonfield is owned by Rob Lloyd, who is fronting a bid to buy troubled Premier League club Portsmouth FC.

Swiss pharmaceutical giant Novartis has threatened to pull out of the UK and relocate its operations abroad, according to reports. The company, which employs 3,000 people in Britain, is said to be unhappy with pricing for the NHS and rules surrounding safety trials. Subhanu Saxena, head of global marketing at Novartis, is understood to have told health minister Mike O'Brien that its vaccine production plant in Speke needed to be “upgraded and expanded in three to five years if it is to keep pace with technology and the market”. Minutes of a meeting said: “Saxena said Novartis would like to find a way to maintain the Speke investment and alluded to funding offered by other countries for similar activities.” In a statement to Insider, Novartis said it would “continue to work with the UK government to address the uptake of medicines in the UK”.

Marketing company ICE, based in the Wirral, has secured five new contracts in Coventry following a series of health campaigns in the city. ICE will be working with NHS Coventry on a citywide campaign to promote exercise; it will also create a social marketing campaign about drinking while pregnant, a GP information pack and a video project. ICE, which is also the preferred supplier to Coventry City Council, recently completed the Big Pledge campaign, Coventry’s biggest ever stop-smoking initiative.

The board of Wigan coach company Shearings said today that a “strategic review” of the business is underway following reports that its private equity owner 3i is looking to sell the company. The Independent on Sunday reported that the firm has appointed Deloitte to undertake a review that could lead to either a float or a sale. A statement from Shearings said: “The board has engaged advisers to carry out a strategic review of the business and assess a number of options to support the delivery of its mid-term growth plan. Following a restructure of our operating model and significant investment in our product offering, the group continues to make excellent progress with all divisions contributing to improved revenue and profit performance.”

Ellesmere Port engineering business Laker Vent Engineering has won a health and safety award from the Engineering Construction Industry Association. The business, which provides piping and mechanical installation services, scooped the BEST award for the second time in the past three years. The award recognises companies that have made improvements in employee behaviour to reduce the number of trips and slips in the engineering construction industry.

Former ISIS Equity Partners director Andy Gregory has joined Leeds private equity firm Key Capital Partners as its partner for the North. Gregory has been taken on with a specific remit to enhance the firm’s presence in the North West. He said: “The team is extremely hands-on and focused on investing in businesses with the potential for strong organic and acquisitive growth.” Gregory spent six years at ISIS in Manchester and oversaw deals involving businesses such as Americana, Boldon James and Reed & MacKay.