Founder of Haulage

Southport businessman Nick Taylor has sold the haulage business he founded 14 years ago to his management team in an £8.75m deal.Mr Taylor, chairman of Taygroup, and Paul Craven, the company’s finance director, have sold their shareholdings to an MBO team led by sales director Jon Wright and operations director Lloyd Dennaford. Mr Craven will … Continued

Club to pay £21m charges for debt

The new American owners of Liverpool FC last night refused to comment on claims that the club might shoulder the burden of paying multi-million pound interest charges on the debt they have raised to fund their acquisition. While Tom Hicks and George Gillett have personally underwritten the £300m they have raised from Royal Bank of … Continued

Betfair complete Timeform deal

Betfair have acquired Portway Press Limited, which trades as Timeform. Timeform is a world-renowned brand publishing horseracing ratings, form guides and analysis. The company, founded by Phil Bull in 1948, is an essential source of reference for racing enthusiasts and is used daily by the sport’s professionals and punters. Operating from its Halifax base, Timeform … Continued

Betfair set to buy Timeform for £15m

By J A McGrath Betfair, the betting industry’s most successful exchange, are to buy Timeform in an estimated £15m deal expected to be completed next week. The move to acquire Halifax-based Portway Press Ltd, which publishes Timeform and other related racing publications, by the company that has revolutionised betting in this country and beyond in … Continued

Towergate acquires Paymentshield

Towergate has completed its purchase of Paymentshield. Under the terms of the deal, Paymentshield will remain an independent business. It now becomes a sister company of Towergate Partnership, Europe’s largest independently owned insurance intermediary. This follows the management buy-in in 2004 led by Paymentshield’s chief executive offficer, Stuart Pender. The deal represents a successful exit … Continued

A tale of two city buy-outs

The contrasting fortunes of two recently concluded local management buy-outs (MBOs) couldn’t be greater. Around 100 senior managers at Tilney Investment Management, based in the Royal Liver Building, shared a reported £350m windfall with private equity backer Bridgepoint Capital two weeks ago when Germany’s Deutsche Bank acquired their firm. Tilney’s managers appear to have done … Continued

Directors takeover financial advisers

A group of directors has taken control of a Preston financial advice firm, having completed a management buy-out. Gillian Bardin, Robert Cholmondeley, Glynn Bartley and Phil Rogers have agreed a deal with founders Nigel Taylor and John Patterson to take the majority 55%share in Taylor Patterson financial advisors. The deal sees Gillian Bardin take over … Continued

Parasol effect

A Warrington recruitment specialist honoured for its rapid growth has changed hands in a £24m management buyout. Parasol employs an 80-strong customer support team at its Centre Court offices dealing with more than 15,000 self-employed professionals and 2,500 recruitment agencies covering the IT, engineering, medical and education sectors. Founding partner Rob Crossland, who remains as … Continued

Dealmakers shortlist

Big disposals dominate Dealmakers list Some big ticket disposals have dominated the shortlist for the 2006 Dealmakers Awards to be held for the first time at the Manchester International Convention Centre next Wednesday, 18 October. Dealmakers is often dominated by big private equity investments but the emphasis in 2006 is very much on the successful … Continued

Saints on march to new stadium

St Helens showed Business Editor Bill Gleeson why they are no longer sport’s poor relations. Rugby League is probably the second most popular sport in the north of England. But for years it has been the poor relation to association football – partly because the main fan base has been largely in relatively small towns … Continued

Caravan Park firm is bought in £100m deal

A company which owns holiday parks in one of Lancashire’s top beauty spots has been snapped up by an investment giant. Legal and General Ventures, the private equity arm of the national insurance firm, has acquired South Lakeland Caravans Ltd in a deal believed to be worth in excess of £100m. The group owns nine … Continued

Drinks all round

Drinks all round Soft drink supplier Cabana Drinks, part of Vimto maker Nichols in Newton-le-Willows, has sold its northern distributorship in a management buyout backed by a £500,000 package from GE Commercial Finance. Cabana managing director Terry Bates, who has run the business for seven years, and his wife have bought the distributorship through a … Continued

Renowned deal maker returns to Preston

A man who has helped seal some of Lancashire’s biggest deals is returning to the county – on a mission to seal some more. Craig Richardson was the finance advisor who oversaw the management buy-out of National Tyre Services, helped Ribble Valley conservatory manufacturer Ultraframe float on the stock market and secured two multi-million pound … Continued

Soccer analysts urge calm over Anfield takeover talk

Financial experts have warned Liverpool fans should not to become too excited by yesterday’s announcement that the club was in takeover talks. Financial experts say that a statement issued by the club to the Stock Exchange saying it was in talks with a number of investors about a possible sale of chairman David Moores controlling … Continued

New Boss goes for growth in Laser Company

A leading Yorkshire laser cutting company, which produces components ranging from ice skates to military armour plating, has moved out of family ownership for the first time following a buy-in management buy-out (BIMBO). Sheffield-based Mayflower Technology specialises in laser cutting, pressing, machining, welding and fabricating metals and other materials. Founded in 1995, the £20m turnover … Continued

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