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Top story
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Yorkshire steeled for £200,000 loss in "tough year"
Yorkshire County Cricket Club are budgeting for a "tough year" in 2011 in the absence of Test cricket with a loss of £200,000 expected. Speaking ahead of the new season, chairman Colin Graves told Insider the club have made cutbacks, including redundancies, and were focused on paying down debt over the next seven years. This strategy precludes hosting an Ashes Test until 2021 as Graves is unwilling to gamble the millions required to bid for a Test.
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Deals
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PPF bought in £165m deal
Provimi Pet Food (PPF), which has a base in Thirsk, has undergone a €188m (£165.7m) management buyout by private equity firm Advent International. Clearwater Corporate Finance advised on the deal.
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North Yorkshire vets merge
York-based Minster Veterinary Practice has merged with Stirk & Associates, a three-vet equine practice based in Ripon.
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Lyceum backs £50m Access MBO
Lyceum Capital has backed a £50m management buyout of software company Access UK, which has a base in Sheffield. The deal involves Lyceum investing alongside Access’ existing management led by CEO Chris Bayne. The investment is intended to fund an expansion strategy focused on rapid organic growth and the acquisition of complementary businesses.
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Leisure business eyes expansion after deal
Sheffield-headquartered residential and holiday lodge resort Roydon Marina Village has completed its marina and village extension work. The project was backed by funding from HSBC.
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Business
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CPP share price plunges
Shares in CPP Group, the York-based credit insurance business, have plummeted in value by 53 per cent after the company told the Stock Exchange it was being investigated by the Financial Services Authority.
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Irwin Mitchell partner slams CFA overhaul
The head of personal injury at national law firm Irwin Mitchell has reacted sharply to the government's proposed reform of the "no win no fee" system describing it as "a bleak day for access to justice". Sheffield-based partner Andrew Tucker said the changes would deter legitimate claimants and added that the seriously injured would be worst hit.
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Profits jump at Fusion IP
Fusion IP has posted a 42 per cent rise in profit to £1.22m for the six months to 31 January 2011. The Sheffield business increased revenue by 15 per cent to £2.09m.
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High oil prices help Getech
High oil prices have boosted the performance of Getech, it said this morning. The Leeds-based geosciences business said revenue more than doubled to £2.65m in the six months to 31 January 2011. The equivalent figure for 2010 was £1.17m.
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Poot! wins WH Smith listing
Poot!, a comic created for "kids over 18" relaunched by Jim Whittaker, a Leeds-based corporate financier, has secured listings at more than 80 WH Smith Travel stores across the UK, including the Leeds City Station store.
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