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Top story
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EXCLUSIVE: Done backs Orange to build £1bn investment business
Betting tycoon Fred Done has invested an initial £5m into CorpAcq, the Manchester-based industrial conglomerate and investment business started by entrepreneur Simon Orange, and is aiming to propel the group into a £1bn turnover business within ten years. CorpAcq buys standalone owner managed businesses, providing owners with an exit, and is currently making £10m in profit on £60m in total turnover.
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Deals
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Holidaybreak buys in Germany as profits rise
Holidaybreak, the education, leisure and activity travel group, has bought a 50 per cent share in German student accommodation group Meininger Holding for around £30.9m. The deal came as the company reported its final results for the year to 30 September, with headline profit before tax increasing 8.9 per cent to £30.7m despite a 2 per cent fall in revenues to £461.7m.
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Co-op provides £27.5m college funding
The Co-operative Bank has agreed to provide £27.5m to fund the construction and maintenance of a new college in Blackpool. The 134,000 sq ft Highfield Humanities College is one of two new Blackpool schools in a sample Building Schools for the Future (BSF) scheme allowed to continue by the government.
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Stuart Canvas bowled over by JMS
Warrington-based Stuart Canvas, a manufacturer of tarpaulins and covers, has bought Yorkshire rival JMS Cricket for an undisclosed sum. Stuart Canvas said the deal expands its offer and brings manufacturing efficiencies.
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Business
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Profit up by 151 per cent at GB Group
First-half pre-tax profit at GB Group, the identity management business based in Chester, has increased by 151 per cent to £746,000 for the six months to 30 September. The business said increased revenue, continued investment and strong cash flows were behind its "strong results".
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Vision+Media welcomes Creative England plans
The government has confirmed plans to merge the nine regional screen agencies in the UK into a single body called Creative England. Speaking to Insider, Alice Morrison, the chief executive of North West digital and creative support organisation Vision+Media, said the move was a first sign of the government "putting its money where its mouth is" and supporting the sector.
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University handed MediaCity keys
The University of Salford has been handed the keys to its new 103,000 sq ft building at Peel Media’s MediaCity development. Jon Corner, the university’s director for MediaCity, told Insider the institution has already seen an influx of applications from potential students ahead of its opening next October.
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Complete Set of Top 500s - Purchase all Six
You can now purchase Insider’s Complete Set of Top 500 Companies 2010/2011 Databases at an exclusive promotional rate: A bundle of our accurate and comprehensive regional business marketing lists - featuring six UK regions. Special promotional offer expires 31 January 2011.
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Property
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Wirral Waters gets government green light
The £4.5bn Wirral Waters scheme, the biggest planning application in the UK, has been given the green light by the government. Wirral Council gave the go ahead for the Peel Holdings scheme in August, but the plans had to be scrutinised by ministers in Whitehall.
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Langtree returns to profit
Merseyside property and regeneration company Langtree has returned to profit following the strong performance of its property portfolio, which saw occupancy levels rise from 70 per cent to 77 per cent, with a 22 per cent increase in income. The company, which last year posted a pre-tax loss of £1.3m, reported a pre-tax profit at £1.5m in the year ending 30 June 2010. The business also posted an uplift of £3m in net asset value to £81m.
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SEGRO and AKW get busy in Trafford Park
Industrial property powerhouse SEGRO and its customer, logistics provider AKW, have completed a number of transactions at Trafford Park. Deals completed include a property swap with a combined value of more than £4.5m and two lettings totalling more than 250,000 sq ft.
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Other News
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Higginson to leave NetPlay TV
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Sales up at Topps Tiles
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TRM Packaging secures funding
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Sky’s the limit for Manchester City owner
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City Inn refreshes brand identity
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