New £5 million warehouse and 200 new jobs at Ocado

Online shopping giant Ocado is to create approximately 200 jobs across all disciplines at a new £5 million state-of-the-art depot in Welwyn Garden City in Hertfordshire. The new AutoStore will open in Spring 2013 and will store and distribute non-food stock with a robotic sorting device driving the project. 

Penny Winter – The UK Knack Group

www.theukknackgroup.co.uk

£150m investment in Sparrows following acquisition by US private equity firm

Aberdeen-based oil service company Sparrows is planning further expansion after being acquired by US-based private-equity firm AEA Investors for more than £150m.  AEA replaces London-based Close Brothers Private Equity as the majority shareholder.  The expansion could create employment and business opportunities at the £172m turnover firm.

Penny Winter – The UK Knack Group

www.theukknackgroup.co.uk

Staffline acquires Select Appointments

Nottingham-based Staffline Group has acquired Select Appointments, which provides office and administration staff. Staffline plans to triple the number of Select franchises over the three years to 2015, potentially creating new jobs. Select Appointments, which has 31 franchise offices, will continue to trade under the Select and Parkhouse brand. Staffline has a turnover of £288.3m and 500 employees.

Penny Winter – The UK Knack Group

www.theukknackgroup.co.uk

£75m investment by Parcelforce

Parcelforce Worldwide is to open a new depot in Cornwall, creating 60 new jobs, as part of a £75 million investment programme.   A destination for the depot which would open within the next two years has yet to be decided.  The company also plans to create a total of 1,000 new jobs in the UK over the next four years.

Penny Winter – The UK Knack Group

www.theukknackgroup.co.uk

Employee ownership backed by Government

British businesses are to be given more education and support on becoming employee-owned companies.

The plans come in response to Graeme Nuttall's independent review of the sector in July which found that that employee ownership offered significant social and economic benefits.

The move which will make it easier for companies to offer shares to their employees aims to create what deputy prime minister Nick Clegg coined a 'John Lewis economy', after the department store which is owned by its employees and distributes profits between them.

Nick Clegg said: "Businesses that are owned by their employees produce more, grow faster, keep their workforce happier, and pay staff more fairly."

As part of plans to help boost the number of businesses that convert to the model, the Government will review current red tape laws and reform the tax system to promote employee ownership.

While Graeme Nutall's review found employee ownership can help boost business performance and improve employee wellbeing, it also detailed a wide spread misconception that the model was difficult or burdensome, preventing business take up.

Jo Swinson said: "There has never been a more important time to create the right environment for different ways of running a business. Employee-owned companies have proved to be flexible and resilient during tough times, and have a clear role to play in securing long-term economic growth."

The 'Sharing Success' review made 28 recommendations for the Government regarding employee ownership, including:

·         Setting up an independent body tasked with raising awareness of employee ownership, offering information

 and advice to companies

·         Developing an 'off the shelf' template for setting up an employee owned company available  through

 accountants and professional advisors

·         Working with HMRC to consider the taxation issues and to offer guidance

A consultation into simplifying the company law surrounding employee-owned companies and the ways in which they can authorise, finance and hold share buy backs will close on 16 November 2012.

Penny Winter – The UK Knack Group

www.theukknackgroup.co.uk

Mergers, Acquisitions & Flotation’s

Fashion, Lifestyle and Luxury PVH and Warnaco to Merge

PVH Corp, owner of the Calvin Klein and Tommy Hilfiger brands, has acquired Warnaco in a deal worth US$2.9bn. The merger will also unify all the different Calvin Klein businesses under one entity. Warnaco president Helen McClusky is set to join the PVH board.

Luxottica Rumoured To Be Interested In Alain Mikli

Italian eyewear group Luxottica is reportedly weighing up a bid for French firm Alain Mikli, according to Italian press. Luxottica currently owns the Oakley and Ray-Ban eyewear brands, as well as holding licences for various designer eyewear labels.

Petards, £1m fundraising – Expansion Plans

Gateshead-based Petards, which manufactures security and surveillance technology, plans to raise £1.125m through a share issue. It is planning to expand after securing an £8m contract to supply its eyeTrain on-board digital CCTV systems. The fundraising will allow the company to accelerate its product development programme. Turnover £12.1m, 90 employees.

Sparrows acquired by equity private equity company – Business Expansion

Aberdeen-based oil service company Sparrows is planning further expansion after being acquired by US-based private-equity company  AEA Investors for more than £150m. AEA replaces London-based Close Brothers Private Equity as the majority shareholder. The expansion could create employment and business opportunities at the £172m turnover business.

Miro Technologies Acquired – Global presence growth

Software company Miro Technologies has been acquired up by aerospace company Boeing for an undisclosed sum. The deal will advance Boeing's defence logistics support strategies and grow its global presence.

Horizon Nuclear Power Acquired – 12,000 New Roles

Japanese technology business Hitachi is to acquire Gloucestershire-based nuclear business Horizon, including the nuclear sites in Oldbury and Wales. The investment is part of a 100 year commitment to the UK and is set to create up to 12,000 new roles.

Experian non Core Operation – Sold to Management Team

Experian has completed the sale of PriceGrabber, its price comparison shopping business, and its US online lead generation activities to the management team of those companies for 49.6m. In addition, the sale price could increase to 68.2m if defined profit targets are achieved.

Sanlam Private Wealth – Three acquisitions

National IFA Sanlam Private Wealth has acquired three client books, increasing assets under advice by 77 million. The South African-owned national will gain 160 clients and 27 million in assets through the purchase of Stratton Annettes, and 25 million from Sheriton Financial Services, which was formerly part of collapsed network Burns Anderson. The acquisition of a third unnamed company will increase assets by a further 25 million

Penny Winter – The UK Knack Group
www.theukknackgroup.co.uk

Management Moves

Dreams – Chairman to step down

Steve Johnson, chairman of Exponent-owned bed retailer Dreams, is to leave his position. Steve Johnson, who has worked for Woolworths and Focus DIY in the past, had been with Dreams for less than a year.

 

STA Appoints CEO

High-street travel company STA Travel Group has promoted John Constable from MD to CEO after incumbent Peter Liney's exit. Liney will become a company advisor.

Norchem – Appoints Head of Commercial

Norchem, a County Durham pharmaceutical wholesaler, has invested £150,000 to bring its commercial and IT services in-house, creating 6 head office roles. Jill Stirland has been appointed to head the new buying operation.

Twitter Appoints Google and Chime Execs

Twitter has appointed two senior executives as part of its drive to accelerate the size of its UK office to meet increased advertiser demand in the region. Will Scougal is to join the social network as a brand strategist and Dara Nasr will lead Twitters agency sales team. The company is looking to expand the size of its UK sales team by 30 per cent.

VMware – CFO Appointed

Virtualisation company VMware saw sales rise 20% year-on-year during the third quarter, offset by a 12% dip in profits as the company. Jonathan Chadwick has been appointed as the new Chief Financial Officer.

Youtravel.com. – New International Sales Director

Youtravel.com has relocated its international sales force to central London to work alongside the UK Sales Force and appointed a number of new management roles. The Youtravel brand name is being re-introduced on all aspects of the business. Damien Retureau has joined as international sales director to spearhead international sales expansion

Gentoo Group – New Chairman

Gentoo Group has appointed John Walker as its new chairman. The company has a turnover of £143.9m and employs 1700 Staff.

Penny Winter – The UK Knack Group

www.theukknackgroup.co.uk