DEALS & MERGERS IN BRIEF


The new luxury care home in Birstall, Leicestershire


Clegg Construction wins major contract


Nottingham-based Clegg has been awarded a £4.6m contract with Cinnamon Care Capital to build a new care home in Bromsgrove, Worcestershire. It follows the completion of a


new £5.1m luxury care home in Birstall, Leicestershire, built by Clegg Construction for the same provider. Simon Blackburn, Managing


Director of Clegg Construction, said: “Repeat business forms a major part of Clegg Construction’s business model and we’re delighted our relationship with Cinnamon Care Capital continues. Cedar Mews is an excellent development, and Burcot Grange is progressing well.”


Liniar and Brett Martin team up to hit heights


Innovative PVCu systems house Liniar and drainage company Brett Martin have announced a partnership that will see each company supply the other’s range to its own customer base. Tony Basile, Business


Development Director at Liniar, said: ‘‘The joint venture brings together two companies with a similar philosophy. “Brett Martin will supply Liniar


with high quality rainwater systems to run alongside our own building product ranges. This means any Liniar fabricator or trade counter stocking fascias, soffits and foam trims will also be able to supply Brett Martin gutter and downpipe systems as part of its range.”


PwC Corporate Finance advises on RMS sale


Midlands-based PwC Corporate Finance acted as exclusive financial adviser to Retail Merchant Services (RMS), a payments services company, on its sale to Technology Crossover Ventures (TCV), a provider of capital to growth-stage enterprises in the technology industry. The acquisition and


associated investment will support RMS’s next phase of growth.


14 business network April 2017 Work has begun on a 1km cycle circuit at New College in Leicester


Construction company celebrates contract wins


The Highways Division of North Midland Construction plc (NM Group) has been awarded a series of contracts worth over £4.5m to carry out various road works projects across the Midlands. The first of these is a £2.3m contract for Lands


Improvement Holdings, a strategic land development company, to carry out preliminary highways works (section 38) at a 97-acre site at Gateford North in Worksop. The project is in readiness for the construction of a new housing development that will see the construction of up to 750 new homes along with a new school and community open space with facilities. The Highways Division of NM group has also been


awarded two contracts by City of Wolverhampton Council that have a combined value of over £1m. This includes the construction of a new shared


cycleway and pedestrian zone between the city’s transport Interchange and the University of


Wolverhampton’s new Springfield Campus. Another contract won recently is for Leicester City


Council, worth £650,000. This is to build a new 1km cycle circuit at New College in Leicester in partnership with British Cycling and the College. The final contract in this series is a £650,000


highways improvement scheme for Lincolnshire County Council. This will involve the widening of the entries and exits to both arms of the A16 as well as the A17 arm to the west, together with resurfacing drainage and earthworks and the installation of new kerbing and road markings. Geoff Poyzer, Managing Director of the Highways


Division of NM Group, said: “We are delighted to have been awarded these new contracts and to have so much going on within the highways division of the company. Some of the clients we have worked with before and others are new, which is a great mix.”


Dealmakers still making deals


Midlands dealmakers at Grant Thornton are reporting a strong second half of 2016 despite global economic and political uncertainty. Notable transactions for the


corporate finance team include advising the shareholders of Hayley Group, an engineering inventory supplier, on the 50% investment by Descours & Cabaud in its £115m turnover business. It also advised the former on its acquisition of Mercury Bearings, an industrial spare parts and components business, which represents a continuation of the Group’s strategic growth plan. Grant Thornton’s Midlands team


also provided transaction advisory services to several key deals, including advising Connection Capital on its backing of the management buy-out of Clamason Industries. It also provided financial and tax


due diligence to Royal Bank of Scotland and further supported


Thornton’s Midlands-based deal activity in the second half of 2016 echoes what we’re seeing nationally: a continuing appetite for mergers and acquisitions in the mid-market, with valuations remaining strong for the right businesses with strategic relevance or scale. “With the depreciation of


Mustafa Abdulhusein


‘We’re cautiously optimistic about the level of deal activity in the coming year.’


Rigby Group’s private equity arm, which continues to focus on a buy and build strategy, on its acquisition of SIPHON Networks. Mustafa Abdulhusein, Head of


Grant Thornton’s corporate finance team in the Midlands, said: “Grant


sterling since the Brexit vote, UK assets are more affordable than they have been for some time, which will no doubt create further opportunities for cross-border deals. Given our strong start to 2017, we’re cautiously optimistic about the level of deal activity in the coming year.” The team has sold several Midlands-based businesses out of administration this year, including the Travelsphere and Just You brands belonging to the Market Harborough-based All Leisure Group, a deal which preserved 200 jobs and safeguarded holidays for over 13,500 passengers.


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