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Wirral manufacturing business Anaco Systems has undergone a partial management buyout in a deal worth £1.8m, which included £400,000 invested by Alliance Fund Managers through the MSIF Mezzanine Fund, support from The Co-operative Bank and directors' own investment. Based in Birkenhead, Anaco manufactures and installs aluminium building façades for use in curtain walling, windows, doors and toughened glass frames. The £10m-turnover company was set up in 1981 and was bought by management in 1994. This latest deal will enable a phased buyout by the operational management team, who will be allocated 50 per cent of the business. The vendors will remain active directors but will gradually reduce their roles and input. 
BAA airports in play following report The Competition Commission has this morning recommended that BAA sell two of its three London airports as well as either Edinburgh or Glasgow. The Commission said it had found "significant competition problems", adding that "this has resulted in investment not tailored to the requirements of airport users, and lower levels and quality of service for both airlines and passengers". Ahead of its final report in 2009, the BAA Airports inquiry group will now seek further views on which airports should be sold and the effectiveness of the current system of regulation. Manchester Airport Group and Peel Holdings will be among interested observers.
Endless deal a boost for Lancashire site Private equity firm Endless has entered into a binding agreement to back a management buyout of Lancashire-based Crown Paints from its Dutch parent, Akzo Nobel. The terms of the deal are undisclosed - although £70m has been widely reported - and subject to formal approval from the European Competition Commission. Howard Luft, chief executive of Crown Paints, said: "We are planning to invest £2.8m in tanks for storing solvent-based products - that's not something we would consider if we weren't sure about the future of the Darwen site."
New technology manager at EV EV, the Preston, Manchester and Leeds-based private equity and venture capital provider, has appointed Ashwin Kumaraswamy as an investment manager in the technology investment team, working on the RisingStars Growth Funds and SYIF's Pilot Seedcorn Fund, which provide early-stage and proof-of-concept funding to high-growth technology companies. He joins having held positions focusing on the commercialisation of intellectual property from UK universities and the analysis of technology markets.
Liverpool will host Deeside-based retail giant Iceland's annual conference in October. More than 850 delegates from stores across the country will attend the event at BT Convention Centre. The announcement comes along with the news that Iceland is seeing its strongest performance in ten years. Meanwhile, the frozen food chain's sales rose by 14.4 per cent in the 12 weeks to 10 August, according to statistics from market research company TNS, much faster growth than at the big four supermarkets only surpassed by cut-price grocer Aldi.
Redstar in the Orange Liverpool-based mobile phone specialist Redstar Communications has been chosen as one of the 18 dealers in the country to become part of the Orange-accredited Business Mobile programme. Orange phone distributor Mainline Digital Communications created the programme to help business-to-business dealers target new opportunities for growth. Redstar Communications was selected for its knowledge, experience of the industry and high standards of customer service.
Elms goes it alone Bill Elms has left his seven-year role as head of sales and marketing at the Liverpool Empire to set up his own marketing and PR firm. His firm, Bill Elms Associates, will represent the live entertainment and ticketed events sectors, working locally, regionally or nationally and already has a number of clients in place, including dance development agency the Merseyside Dance Initiative and Pulse Records.
What's your secret? Independent lingerie retailer Secret Drawer is to open a store in Liverpool's Metquarter. The retailer is owned by local entrepreneur Leona Nicholas and will open for business next month at the scheme, now owned by Anglo Irish Bank and Alanis Capital. Nicholas already has a store in Crosby.
£650,000 win for Barrow scheme Creative Studios Cumbria (CSC) has won a grant of £650,000 from the government's Community Asset Fund to redevelop the 1875-built Cooke's Building in Barrow-in-Furness. The grant will be used to refurbish two floors of the building and will be backed by further funding from Barrow council to take investment in the project to £1m. CSC will be the lead tenant, but the space will also include community facilities. Work is expected to start next spring.
The future of Liverpool-based developer Vermont lies in the hands of administrators in the business recovery and insolvency team of London-based Wilkins Kennedy, following yesterday's news that the company had been placed into administration by development funder and partner Downing Corporate Finance. Joint administrator Stephen Grant said: "We appreciate that this is a difficult time for the staff, customers and suppliers of Vermont. At this point in time we are doing everything we can to maximise the assets and minimise the liabilities of the business in order to achieve the best possible outcome for all under the circumstances."
Chalmers to speak at event Lesley Chalmers, chief executive of English Cities Fund, has been confirmed as one of the speakers at the Liverpool & Manchester Property Forum event, to be held at the Racquet Club on 10 September. The conference, to be preceded by a dinner the previous evening, will examine the importance of legacy to international cities and the creation of new urban business districts.
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