| - |
|
Top story
|
MSIF managers clinch top deals award
Alliance Fund Managers (AFM), which manages the Merseyside Special Investment Fund, last night received the Fund of the Year award at Insider’s Dealmakers Awards North West 2008. AFM has been one of the only funders completing deals over the last few months at a time when small and growing businesses have found financial backing harder and harder to come by. The team led by managing director Mark Fuller beat off stiff competition from Enterprise Ventures and YFM to win the award, which was sponsored by the Northwest Regional Development Agency. Fuller said: “We are absolutely delighted to win this award and would like to recognise that none of it would be achievable without the help and support of our clients and everyone who we work in partnership with to help the region’s small and medium-sized enterprises.”
|
|
|
Today's news
|
Funding for 3MG in Halton
The Northwest Regional Development Agency is planning to invest £4.3m in the site remediation works at Mersey Multimodal Gateway (3MG) in Halton, a development that could create up to 1,200 jobs. The agency’s grant will bring a 43.8-acre site back into productive use, enabling its redevelopment into a multi-modal freight distribution facility, which will be taken forward by Stobart Group, in partnership with Halton Borough Council. Plans for the site include the construction of 54,115 sq m of floorspace for a new distribution facility, which is expected to be completed by 2010. 
New chairman for Widnes steering group
Paul Murphy, chief executive of Widnes-based Forum Tecknik, has been elected as chairman of the Widnes Waterfront Business Steering Group, which plays a major part in the regeneration of the 200-acre former industrial area in south Widnes. He will represent each of the resident businesses on the estate when communicating with the council and any other external organisations. The Steering Group was set up in August 2008 and aims to improve security, upgrade signage, promote inter-trading and joint purchasing and provide local business support.
North West at risk from RBS slash
Regional staff at The Royal Bank of Scotland (RBS) were waiting to hear their fate this morning as the lender announced 3,000 job cuts across its global banking operation. While it remains unclear how the North West will be affected, a spokesman confirmed to Insider that “every region has some representation” in the division. RBS is axing 15 per cent of its global banking and markets workforce in the wake of the credit crunch. The news came only days after Stephen Hester, the new RBS chief executive, warned of job losses as the bank edged towards the first potential full-year loss in its history.
Pacific athletes head to the North West
Fifteen Pacific island countries from Oceania will use the North West as a training base in the four-year period building up to the London 2012 Olympics. A memorandum of understanding (MOU) is being signed today between the Northwest Regional Development Agency, the Oceania National Olympic Committees and the Fijian National Olympic Committee on using the region as a training base for 2012 and hopefully beyond, looking to the 2014 Commonwealth Games in Glasgow. Earlier this week Thailand signed an MOU with Manchester City Council to develop pre-Games training plans for London 2012 and sporting links with the North West.
Hurst takes its protein
North West accountancy firm Hurst has been appointed by Myprotein.co.uk, an online manufacturer and supplier of nutritional sports supplements, to provide business support, tax work and audit services. Myprotein.co.uk has a target of doubling its £5m turnover during the next 12 months, as well as moving into larger premises to help meet the growing demand for its products. It employs 30 people at its premises on the Brookfield Industrial Estate in Cheadle.
Urban Splash finalises job cuts
Developer Urban Splash has announced plans to cut 60 of its 280 jobs following a consultation process announced in September. The Timber Wharf-headquartered group will be cutting posts across the group to maintain its commitment to projects it has in process in various regions. Major plans at the moment include the 700-home Tribeca scheme in Liverpool, Park Hill in Sheffield and a major city centre retail scheme in Swansea with Hammerson.
M&A downturn hits Eversheds
Eversheds is the latest law firm to announced a consultation period over job cuts, its second this year. In Manchester this could involve up to six lawyers. A statement from the firm said: “Like every business in these difficult market conditions, we continue to review our operations. The decline in certain sectors, such as mergers and acquisitions, means that, in common with many of our competitors, we are proposing to make targeted cutbacks in the affected sectors.”
|
|
Something for the weekend
|
Deal of the week
Well done to Zeus Private Equity for the secondary buyout of infrastructure services business MJ Quinn. Managing partner Gary Tipper believes that investing in a downturn is the right thing to do to get the best returns and he’s put £6m where his mouth is. The Co-operative Bank was already on board with £3m of debt in the business and has kindly rolled over its slice of the funding pie. There you go: one bank open for business and one private equity house getting a deal over the line. MJ Quinn is a preferred supplier of contracting services to the London Underground and is expected to capitalise on the transport opportunities created by London 2012.
Taking the biscuit
Feeling a bit down in the dumps over all this recession talk? Fed up of all those accountants with their doom and gloom? Well, fear not, because those lovely guys and girls over at Grant Thornton had just the ticket to cheer us up when a bag of delightful chocolate biscotti arrived on our desk this morning. We’ll forgive them the dodgy pun that accompanied them – “Be sure to save your crumbs during this credit crunch” – just this once, because biscuits plus journalists equals upbeat news stories.
Something to smile about?
We’ve spent all week wondering what we could do with a press release about the opening of a new city centre dental clinic in Liverpool. Not being big fans of dentists – even fancy ones with leather walls, comfortable sofas and aromatherapy – we couldn’t quite bring ourselves to publicise the opening of Ollie and Darsh on the corner of Dale Street and Hackins Hey. But dentists are people too, so here goes: Ollie and Darsh is bringing a “boutique-style approach to dentistry” to Liverpool’s business district and is the first to open as part of the company’s regional roll-out growth plan. Go get your teeth checked out and check out those leather walls.
Down and dirty
We don’t quite know what to make of a press release about Merseytravel chief executive Neil Scales donning a boiler suit and taking a spanner in his hand to become an operational engineer. Recalling his days as an apprentice engineer with the old Sunderland Corporation, Scales said: “I haven’t enjoyed myself so much for years.”
Canapé won’t pay
If there’s one person who knows how to throw a good party, its Liverpool One chief executive Joanne Jennings. And she didn’t disappoint at her party on Monday night for the British Council of Shopping Centres annual conference. Forget dainty canapés, this time the assembled property agents, developers, retailers and journalists were treated to mini bowls of shepherd’s pie, Lancashire hotpot and vegetable chilli. Who cares if you had to put your drink down to eat it? A bit of tasty hotpot hits the spot on a chilly night in November.
|
|
|
Contact Us
Insider
8th Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY
Telephone: +44 (0)161 907 9711
Email:
nw@insiderdaily.co.uk
|
|
Subscribe
To subscribe to the eBulletin,
click here.
|
|
- |
