34 t ransact ions
fAmIlY INvEstmENts AcQuIrEs govErNor
moNEY governor money has announced that it has become part of family Investments. Governor Money has announced that it
has become part of Family Investments. Governor is a revolutionary savings
account designed to help savers, by securely handling the administration of several accounts with no need for multiple banking passwords.
Family Investments is a financial services
business that has been helping people invest for over 35 years and currently looks after over £3.2bn of money for 1.75m people in the UK. Family Investments was one of Governor's first suppliers and together they have developed a close working relationship.
Governor continues to remain
independent of any savings provider allowing it to provide its customers with unique choice, value and transparency.
John Reeve, Chief Executive of Family
Investments, said: “Today’s announcement represents a great deal for both Family Investments and Governor Money. We believe Governor Money has the potential to revolutionise the way people think about cash savings. It allows customers to actively manage all their cash savings in one place, the same way as many investors do with equities."
John-Paul Booth, CEO and co-founder of
Governor Money, said: “Family Investments is the perfect organisation to enable Governor Money to realise our significant growth potential and also develop our services to savers over the coming years. Family’s strong commitment to client service, technology and providing simple savings products matches our ethos exactly. We look forward to making the business a widely recognised and important service in UK cash savings.” fi
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AcQuIrEs frENch AND gErmAN opErAtIoNs
of IcElANDIc group Icelandic group has signed an agreement to sell the company’s operations in france and germany to a consortium of investors, led by pacific Andes. the sale is a positive step for Icelandic group, sharpening the operational focus of the company and lowering debt. Icelandic Group acquired Pickenpack
Hussman & Hahn (PHH) in Germany in 2005. PHH is focused on producing value-added seafood for the retail and food service markets in Germany and other European countries. In 2006, Icelandic Group acquired a processing plant in Wimille, France, (Gelmer) which has since produced frozen seafood products under the brand name Icelandic Boulogne Sur Mer. The Icelandic France sales office in Paris is also included in the acquisition. The transaction price is subject to confidentiality between the parties. The French and German operations of
Icelandic Group hold strong market positions in their respective markets, with combined annual sales in fiscal 2010 amounting to EUR 270 million, and total production of approximately 83.000 tons of quality seafood products per year. The two operations have approximately 900 employees; 650 in Germany and 250 in France. The agreement is subject to regulatory
approval by competition authorities. Brynjólfur Bjarnason, CEO of Icelandic:
“The sale of our French and German platform is an important strategic step for Icelandic Group towards sharpening its operational focus. This transaction is a key milestone for the Company, whereby it is now well positioned to lower its debts and strengthen existing operations.” fi
ImpErIAl INNovAtIoNs lEADs £40m fuNDINg
rouND for NEXEoN Imperial Innovations group plc, the uk's leading technology commercialisation and investment company, has led a £40m investment in Nexeon, a battery materials and licensing company which is developing silicon anodes for the next generation of lithium-ion (li-ion) batteries. Innovations invested £15.0m with existing
Nexeon shareholder Invesco Perpetual also participating. Following this investment, Innovations will hold a 40% (33.5% fully diluted) stake in Nexeon. To date, Nexeon has raised £55m over four funding rounds since formation in 2005. Susan Searle, Imperial Innovations’ CEO,
said: “This investment is a substantial endorsement of Nexeon’s technology and management team. It is in line with our strategy stated at our recent equity raise to accelerate the development of our ad- vanced portfolio companies, as well as to stay invested in some of them for longer. This new funding round will enable
Nexeon to scale up the business more quickly and support its manufacturing facility in Abingdon – already one of the most advanced worldwide.” Scott Brown, Chief Executive Officer of
Nexeon, said: “We are naturally delighted at the support shown by our investors who see the potential of our silicon anode technology and the excellent progress being made by our team. We are well placed and very much on
track to meet our customers’ needs and to achieve our commercial ambitions.” Reading based corporate partner, Rob
Hayes, led the Manches team, supported by associate, Leanne Warren and IP Partner, Chris Shelley. Rob comments "This is an exciting time for Nexeon and Manches are very pleased to have been able to assist the company as it moves into the next phase of its development". fi
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OCTOBER 2011
www.finance-monthly.com
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