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Top story
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Organise to build legacy, says Prattey
Increasing quality and proactive central management of events are what Liverpool needs to focus on as it seeks to build a legacy from 2008, according to Bob Prattey, chief executive of ACC Liverpool. Speaking to an audience of over 100 property and business professionals at Insider’s breakfast briefing at 20 Chapel Street today, Prattey said: “Liverpool’s great at doing one-off events, like golf or the Grand National, but ACC Liverpool is capable of delivering visitors to the city day after day and to be honest the infrastructure’s not yet there to make sure the city maximises its cross-selling. And the quality still needs improving; there are good and bad restaurants and hotels and we need to build on the pockets of excellence we have.” The event was sponsored by Barclays Commercial, Roland Dransfield PR and 20 Chapel Street.
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Deals
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Rapid fund movement
AIM-listed investment fund Rapid Realisations, which puts money in pre-floatation companies and other late-stage opportunities, has clocked profits of £3.4m in the first half of 2008. Run by Haydock-based Cenkos Fund Managers, Rapid floated three investments during the period, including bus builder Darwen Group (now Optare), Daily Internet and Enegi Oil. It also made investments of £15m in a further seven companies and £9m in another four, including Mexican fast-food chain Barburrito. Chairman Peter Tom said: "The continuing credit squeeze and volatile stock markets have increased the number of investment opportunities."
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Business
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Growth in orders for Surface Transforms
Despite the slowdown in consumer and industrial markets, Surface Transforms, the Ellesmere Port-based manufacturer of carbon fibre materials for brakes, aerospace components and rocket systems, has seen annual revenues rise 90 per cent to £508,111 and its pre-tax losses improve 8 per cent to £594,065 as its high-performance products are commercialised with major industry partners such as MBDA, a missile manufacturer jointly owned by BAE Systems, EADS and Finmeccanica. 
Energetix has the power
Chester-based Energetix Group, developer of low-cost products for alternative and sustainable energy markets, is expected to deliver strong revenues next year. The group posted a pre-tax profit of £664,000, on turnover of £29,000 for the six months to the end of June, and chief financial officer Richard Smith told Insider this morning that all three of the group’s businesses - micro combined heat and power developer Genlec, uninterruptible power supplier Pnu Power and energy-saving products subsidiary VPhase – are “well ahead of the competition”. “Genlec is launching its products in November and we would expect revenues starting in 2009 at proper levels,” he said. “Pnu Power already has a product to sell, but there is quite slow adoption as it is a very conservative market.” VPhase, which has announced a new agreement to work with Scottish Southern Energy, is launching its first product, VX1, at the Interbuild Exhibition in October.
Baa Bar bucks leisure downturn
Baa Bar, the mini-chain of bars launched by Tom Bloxham and his Urban Splash partner Jonathan Falkingham from Liverpool in the 1990s, is to open its latest bar later this month. The group, which was largely sold to private equity in 2006, has taken over the Glass site at the junction of Wilmslow Road and Wilbraham Road in Manchester's student heartland, Fallowfield.
New COO for Proventec
Liverpool-based cleaning technologies provider Proventec has appointed Guido Schoenmakers as its new chief operating officer. Schoenmakers joined the group in 2005 as managing director of its OspreyDeepclean and MAGMA Firestop divisions in the Netherlands. Proventec was formed as a result of the reverse takeover of Magma, a fire-retardant coatings business, and OspreyDeepClean, a specialist steam cleaning business, by Flintstone Technologies in August 2005.
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Property
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Planning in for Kingmoor's Wrexham site
Kingmoor Park Properties has submitted a planning application for 113,500 sq m of development at its site on Wrexham Industrial Estate. The application, compiled by Manchester-based HOW Planning, is for business accommodation in two large warehouse or distribution buildings. It is expected that the development would create or safeguard around 700 jobs.
Hurstwood feels the pain
North West property group Hurstwood has become the latest victim of the credit crunch as it places its Developments and Facilities businesses into administration. They follow the same fate as external contracting arm Hurstwood Construction, which collapsed in June. Hurstwood Developments handles the group's own residential and commercial construction projects and work on various sites has been temporarily halted. Chairman Stephen Ashworth said: "We have spent millions of pounds over the last 12 months trying to keep Hurstwood Developments alive but pressures outside our control eventually took their toll. Restructuring is a very painful process and we have no choice but to retreat to our core activity of property investment." KPMG is expected to be appointed as administrator today.
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Telephone: +44 (0)161 907 9711
Email:
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