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Top Story
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Golden buyout for RBS
Golden Sands holiday park near Rhyl has been bought out by its management team in a deal backed by debt funding from The Royal Bank of Scotland (RBS). Directors David Vaughan and Robert Sewell, who also set up caravan park operator Park Resorts, led the buyout of Golden Sands, which is licensed for more than 400 caravans as well as flats and chalets. Founder Arthur Jones and family are stepping down from the business and retiring. RBS funded the deal with a tailored package including senior debt, capital expenditure and working capital facilities to support the new management team.
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Watts buys truck seller
Swansea Truck Centre has been acquired by Watts Trucks, a commercial vehicle dealer based in Gloucester. Watts now has seven outlets and has added DAF franchises and widened its geographical coverage. The acquisition was backed by The Royal Bank of Scotland, with advice provided by Geldards, Morgan Cole and KPMG. 
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Matthews lends Newport Networks £2m
Sir Terry Matthews has given a hand to Newport Networks, the telephone technology company he chairs, by providing a £2m loan facility through his investment firm, Wesley Clover. Matthews said a recent agreement with an equipment maker had given him the confidence to provide finance to Newport, which made a £9.6m loss in its most recent financial year. The company is looking for a new chief executive as its boss, John Everard, is to become vice chairman.
HSBC invests in Newport
HSBC is to invest £14m to expand its Newport office and recruit 250 staff there over the next two years. The bank, which employs 200 people at the site, wants to transform HSBC Newport into a telephone-based customer services centre for UK customers. HSBC Newport sells and administers the bank's home and motor insurance products, but by October 2009 it plans to migrate all insurance activity to insurance partners selected by HSBC, so the Newport office can offer telephone banking customer services exclusively.
HW builds up Cardiff
Accountancy firm Haines Watts has reorganised its South Wales operations, doubling the size of its Cardiff office. The firm has closed its Port Talbot office and moved the team to the capital. Six additional members of staff have been recruited to deal with growth led by its tax and corporate finance divisions. Director Clive Edwards, who is transferring from Port Talbot to Cardiff, said: "When we analysed business growth and other factors, there was a very powerful case to concentrate our forces in modern premises in the capital."
New scheme to tackle green wash
The Carbon Trust Wales has launched a campaign to challenge businesses and the public sector to end so-called 'greenwash' by achieving the new "Carbon Trust Standard" certificate. Achieving the Carbon Trust Standard will enable organisations to take advantage of the financial benefits of reducing carbon emissions. It will also show consumers which brands are taking action and help businesses to cut emissions in their supply chains.
SWALEC to sponsor golf event
SWALEC has won the rights for headline sponsorship at this year's Ryder Cup Wales Challenge tour event, held from 24 to 27 July at the Vale Hotel on the outskirts of Cardiff. The event sponsorship is part of a commitment by SWALEC to launch a new golf development programme, including a community programme across Wales to encourage golf excellence at junior level.
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Property and construction
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Cooke & Arkwright lands royal contract
The Crown Estate has appointed property adviser Cooke & Arkwright to manage its marine estates interests in Wales for the next five years, covering a substantial part of the Welsh coastline in the former county estates of Monmouth, Glamorgan, Carmarthen, Pembroke, Cardigan, Merioneth, Caernarvon, Anglesey, Denbigh and Flint. Cooke & Arkwright will act as The Crown Estate's representative in Wales, managing the land through leases, licences, easements and consents, and providing advice and reports on future developments. As part of the contract, Chartered Surveyors Jones Peckover will manage The Crown Estate's marine interests in North Wales as approved sub-contractors to Cooke and Arkwright.
Willmott Dixon wins £20m UWIC deal
Construction company Willmott Dixon has won a multimillion-pound framework agreement at the University of Wales Institute, Cardiff (UWIC). Potential projects at the university include a new management school at the Llandaff campus, a students' union building at Cyncoed and the refurbishment and extension of an arts building at Howard Gardens. The contract has been signed for three years with the possibility of an extension to four. The total cost of expenditure for the framework is expected to be between £20m to £25m.
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Top trio at Eversheds
Eversheds has promoted three lawyers. Paul Pugh, who advised on the founding of Finance Wales and the Ryder Cup Wales, becomes a partner in the commercial division, while Huw Rolant Jones, who has advised local councils on pay and grading, takes a partnership in Eversheds' human resources team. James Trafford, who has worked for the University of Wales, Newport, becomes partner in the real estate group.
Two step aside at Hill Station
Two directors have stepped down from executive positions at Hill Station, the ice cream manufacturer. Gwyn Jones has resigned as operations director and William James Mapstone, who joined the company and was appointed as executive chairman in January 2007, has been made non-executive chairman. The company has also signed a £3m invoice discounting facility with Cattles Invoice Finance.
Lewis scoops Glamorgan post
Sketty-based businessman Byron Lewis has been appointed Lord Lieutenant of West Glamorgan. Lewis, born in Swansea, has been non-executive chairman and director of a number of companies in South Wales and south west England over the past 17 years. He was also managing director of subsidiaries of Hillsdown Holding, in the UK and overseas, including Christie Tyler, based at Bridgend.
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