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Top story
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Morgan Stanley lights up G24i
Morgan Stanley, the US bank, is to invest £10m in G24 Innovations, a solar technology company based in Cardiff. The investment will be used as a base for additional fundraising as G24i starts to roll out a range of products, starting with a solar-powered mobile phone charger. Morgan Stanley has taken a minority stake in G24i through this, its first investment in European solar power. G24i chairman Robert Hertzberg and chief executive Edward Stevenson will continue to hold most of G24is stock.
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Loans pair repay VC
Y3s Group, the loan provider that was valued at £20m last year, has been bought out by its directors, Matt Cottle and Barney Drake. The pair acquired a stake held by venture capitalist Marc Bertola of the Vantage Group for a lump sum with an additional deferred payment. Y3s, which is not related to Yes Loans, is based in Cardiff and employs 70 staff. The deal was arranged by Capital Law and accountancy firm Broomfield Alexander. 
S4C and Wesley Clover tune in to Inuk
TV channel S4C and Wesley Clover, the venture capital firm backed by Sir Terry Matthews, have invested £9.5m in Inuk Networks, a Cardiff-based internet TV technology company. Inuk, headed by Marcus Liassides, will use the investment to develop its Freewire product, which is popular with students in halls of residence. Iona Jones, S4Cs chief executive, and David Sanders, a director of S4C Digital Media, will join the Inuk board of directors, which is chaired by Simon Gibson of Wesley Clover.
Protectagroup snaps up Culver
Protectagroup, the insurance broker, has acquired Culver Insurance Brokers from listed insurance company Culver Holdings for £4m. Protectagroup, based in Cardiff, has been the top consolidator in Welsh insurance over the past four years and was taken over by Cullum Capital Ventures in March. Culver has offices in Cardiff, London, the Thames Valley and Dubai.
Shareholders back Tinopolis bid
Shareholders in Tinopolis have voted in favour of a £45m takeover bid in which the TV production company will leave the stock market. A scheme of arrangement to give control to Red Dragon Acquisitions, backed by private equity firm Vitruvian Partners, was backed by 99.87% of shareholders at a general meeting. The takeover is supported by Tinopolis chairman Ron Jones, who hopes it will allow the company to make more acquisitions.
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Turmoil good for FXW
FXW Commercial Finance, the consultancy based in Newport, is expanding in South Wales as turmoil in the money markets drives up demand for its services. The company has opened offices in Swansea and is looking for a base in Cardiff to serve its growing client base. FXW, formerly Finance Exchange Wales, was set up five years ago by former Barclays bankers Paul Crane and Simon Harrison
Ventura hangs up on Cardiff
Ventura, the call centre operator, is to close its Cardiff centre, axing 600 jobs. The company, which provides services to clients such as O2 and Volkswagen, declined to say why the call centre at Splott had been singled out for closure. The centre was previously owned by Serco. Ventura has received Regional Selective Assistance grants from the Welsh Assembly.
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Property and construction
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Bocam deal for Macob
Development and construction company Macob has sold part of its Bocam Park mixed-use development in Pencoed, near Bridgend. A private investment company will purchase a 3,000 sq ft office unit for £575,000, subject to a ten-year lease to Abertawe Bro Morgannwg University NHS Trust.
Powell Dobson sets out Valleys way
Cardiff consultancy Powell Dobson Urbanists has won a commission to develop a good practice guide that will shape the future of 11 town centres in the South Wales Valleys. The document will provide a bespoke set of guidelines to approach the street design in five local authorities in the Heads of the Valleys area. These are Rhondda Cynon Taff, Torfaen, Merthyr Tydfil, Caerphilly and Blaenau Gwent. The contract was awarded by Rhondda Cynon Taff council.
Three deals for King Sturge
The Cardiff office of King Sturge has sold the freehold interest in an industrial complex in Abercarn to local developer Starburst. The 35,000 sq ft former food factory on the Prince of Wales Industrial Estate was sold for £650,000. The firm has also sold a 46,000 sq ft industrial facility on the Rassau Industrial Estate, Ebbw Vale, for £1.2m on behalf of Woodhead Connectivity to Castleoak Timber Frame. It has put the former GEC and Hitachi facility on Hirwaun Industrial Estate on the market.
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Confused.com to decide on boss
Confused.com, the insurance price website operator, will decide in the next few weeks whether to appoint a chief executive to replace Debra Williams. The Admiral subsidiary announced last week that Williams was leaving to oversee internet distribution at Highway Insurance Group in Essex. Confused employs more than 90 staff and made a profit of £32m in 2007.
Rail man for Atkins
Design and engineering consultancy Atkins has appointed a new regional manager for Wales. Liam Ryan will provide specific rail consultancy for the company, which is already working on several rail projects in Wales. He joins the rail team having worked for Atkins highways team for the past eight years.
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