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Top story
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£180m bonanza for Drax
Selby-based coal-fired power station operator Drax has secured a £180m windfall, it announced this morning. The business said it was thanks to an agreement with HM Revenue & Customs about its Eurobond financing structure.
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Deals
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Insider's March Deal of the Month named
The deal that completed Endless’ exit from Amco Group has been named as Insider’s Deal of the Month for March. The £14m buyout of Amco Drilling and Amco Developments by a management team led by David Jackson and Ian Swire was advised by a string of South Yorkshire dealmakers.
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£7.5m investment for Kitwave
Kitwave, a wholesaler of tobacco, confectionery and drinks, has received a funding boost of £7.5m from NVM Private Equity (NVM). The company, which has a base in Bradford, said the capital injection would support its growth strategy.
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Viridas raises extra £300k
Leeds-based Viridas has raised a further £300,000 through a placing of loan notes, it said today. It brings the total raised by the green fuel business to £1.05m in the past week.
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Banks invests £21m on wind power
Banks Renewables is investing £21m in two new wind farms in Yorkshire as it expands its renewables business. And Mark Dowdall, environment and community director at Durham-based Banks, has called for planning processes to be tightened up if the UK is to encourage overseas investment in the offshore wind industry.
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Everbuild eyes growth after investment
Leeds manufacturing company Everbuild has said it is poised for growth after investing £1m in improved production lines. An additional seven-figure sum is earmarked for expanded manufacturing capacity.
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Business
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Banking crisis drives record year at Engage Mutual
Harrogate-based Engage Mutual has hailed its results for the year to 31 December 2010 as its "best ever" with two main acquisitions supporting a year of sustained growth. Chief executive Andrew Haigh told Insider the banking crisis had fuelled a fresh appetite for mutuals as the organisation’s assets increased to £946m.
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Administrators appointed at McInerney
Seven companies within the UK arm of McInerney Holdings, which has development sites in Yorkshire and an office in Leeds, have gone into administration. Richard Heis, Brian Green and Paul Dumbell, of KPMG, have been appointed joint administrators.
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LEP awaits enterprise zone representations
Sheffield City Region LEP is awaiting representations from local authorities about the location of the enterprise zone allocated to the region in the Budget. Executive director Sylvia Yates told Insider maximising economic growth in the city region as a whole will be an important factor behind the decision.
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Jobs created at Mansfield Pollard after £2.5m contract win
Bradford-based ventilation business Mansfield Pollard is to create 12 jobs after securing a £2.5m contract.
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The Top 500 Companies marketing database
Looking to source the biggest clients in Yorkshire? Insider’s brand new Yorkshire Top 500 Companies 2011 database is our comprehensive business marketing list, providing you with contacts for the region’s biggest companies. Order this month to receive a 20 per cent discount or request a free sample (offer expires 30th September).
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Property
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GMI wins £10m Spindlegate contract
Leeds-based GMI Group is to develop a 62-bed Travelodge as part of a £10m project at the former James Robinson site in Huddersfield.
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