Gresham pumps £12.5m into LAS

A division of drains specialist Lanes Group today changed hands as private equity outfit Gresham invested £12.3m in the business for a majority stake. Gresham has taken a 70 per cent stake in Lanes Assistance Services, which has its headquarters in Eccles. The management team at LAS, which turns over £20m and employs almost 80 … Continued

Gresham invests £12.3m in LAS

Who? Private equity firm Gresham. Did what? Has taken a 70 per cent stake in Eccles-based outsourced claims management and domestic repair services company Lanes Assistance Services (LAS). What does this mean? The remaining 30 per cent is owned by the management team, including managing director Darren Cooper and commercial director Tim Walker. Gresham acquired … Continued

Doubts cast on Liverpool takeover

Liverpool FC’S debt levels will be a key factor in whether interest from two Indian tycoons leads to major investment, experts said today. It was revealed yesterday that two businessmen from the sub-continent, Mukesh Ambani and Subrata Roy, were competing for bids to buy a significant stake in the club. But representatives of Mukesh Ambani, … Continued

Is the private equity deals market in recovery?

Private equity investment slumped last year, but the sector remains upbeat. Alistair Houghton reports There’s no question that the private equity sector took a massive hit in the recession – but those in the sector insist investment levels will soon start rising again. Research from the Centre for Management Buyout Research (CMBOR) this week showed … Continued

The return of private equity

Deal activity was only slightly up in the third quarter of 2009, but there is a new-found sense of optimism in the Greater Manchester market. “Private equity is back,” is how one relieved corporate financier put it. Date provider Zephus lists a total of 110 deals in Crain’s coverage area during the three months to … Continued

Martin Dawes deal saves 99 jobs

Scores of jobs have been axed after north west TV rental and sales business Martin Dawes underwent a pre-pack administration. The £11m-turnover company, based in Warrington, has been bought back by a management team led by Mr Dawes but its nine shops – including those in Manchester, Bury, Stockport and Wigan – have closed, with … Continued

Pre-pack at Martin Dawes TV rental business

Martin Dawes Ltd, which claims to be the UK’s largest independent TV rental company, has undergone a pre-pack administration. It was put into the hands of Les Ross and David Riley, from the Manchester office of Grant Thornton, before being bought back by the management team, headed by serial entrepreneur Martin Dawes. The business, which … Continued

Dow Schofield Watts closes debut PE fund

British firm, Dow Schofield Watts, has raised £4.68 million on the first closure of its debut private equity fund, AltAssets reports. The PHD Equity Partners Fund No 1 will target buyouts in the £2-10 million range in established businesses with enterprise values of about £50 million. The fund will make its initial investments between £250,000 … Continued

PHD equity partners raises £5m fund

PHD Equity Partners, a new private equity fund based in the north-west of England, has reached a first close of £5m (EUR5.5m) on its debut fund.

Finance in football industry to be helped by televison deals

Football industry finance expert James Dow expects the sector to face some difficulties, but will be assisted by the long-term television deals in place. Mr Dow, the owner of Warrington corporate finance firm Dow Schofield Watts, was involved in takeovers at Manchester City and Everton in the 1990s and has also advised Ajax, Celtic and … Continued

Building management firm secures £5m funding

Building Automation Solutions (BAS), the Altrincham-based building management systems company bought out from Siemens in 2006, has secured a £5m funding package from the Manchester office of Yorkshire Bank. BAS, installs and maintains building management systems, which control services such as heating, security, access, audio-visual systems, ventilation and filtration. Its customers include Asda, Total Fitness, … Continued

Sofa maker sitting pretty

Lancashire sofa and sofa bed maker Flame Upholstery has been bought by its bosses. Preston-based flame, which turns over just less than £7m, and has 500 staff has been bought from parent company Tetrad by managing director Mike Featherstone and former Tetrad executive Janus Cooper. Flame, which sells its products through independent stores and also … Continued

Jobs saved as David McLean Homes sold to Elan Homes

Ninety jobs have been saved with the sale of the housebuilding division of Flintshire-based David McLean group to a new company. Elan Homes has been formed by the former senior management team of David McLean Homes, led by former group finance director John Kendrick, and is backed by Barclays Bank. It has acquired the business … Continued

David McLean Homes bought out by Elan Homes

David McLean Homes has been bought by Elan Homes, a new company formed by former senior management at David McLean. David McLean group finance director John Kendrick last night completed the buyout of the housebuilding division for a reported sum of around £40 million. Flintshire-based David McLean Group last month plunged into administration with debts … Continued

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