A string of major deals have been announced by North West businesses over the last seven days.
The likes of JD Sports, EG Group and In The Style as well as car dealership giant Lookers are among those to have been involved.
Below, BusinessLive has rounded up 10 of the biggest deals from across the region from the last couple of weeks we feel you should not miss.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
If you have a new deal that you would like featured in our next round up, please e-mail jon.robinson@reachplc.com.
In The Style
In The Style has agreed to sell itself to a private equity firm for £1.2m in a bid to avoid administration.
The Salford-based company is to dispose of its only operating company, In The Style Fashion, to Baaj Capital LLP.
The offer includes a condition that founder Adam Frisby takes a stake in ITS Holdings 2023 Limited (Bidco), a newly-established company formed for the purposes of the sale and to also become chief executive of ITSFL on completion.
The strategic review was kicked off in December at the same time as Mr Frisby returned as interim chief executive, replacing Sam Perkins.
In The Style floated on the London Stock Exchange's AIM in March 2021 with a market capitalisation of £105m.
EG Group
The retail and petrol station empire run by the billionaire owners of Asda has agreed a sale and leaseback deal in the US for around $1.5bn.
EG Group has disposed of a portfolio of its sites on the east coast of the US to Realty Income Corporation.
The portfolio, which EG America will continue to operate and trade, comprises 415 store assets under the Cumberland Farms, Fastrac, Tom Thumb and Sprint banners.
The deal is expected to be completed in the second quarter of 2023. The group added it will use the net proceeds to repay debt.
JD Sports
Mike Ashley's retail empire has completed the acquisition of the final brands from JD Sports in a wider deal worth almost £50m.
Topgrade Sportswear, including Get The Label, have been snapped up by Frasers Group.
The deal forms part of a larger transaction which involved 14 brands in total.
The deal was first announced in December when an agreement was reached for JD Sports to dispose of 15 brands.
The overall deal was agreed for up to £47.5m and is to be paid by Frasers Group's existing cash resources.
Churchill Support Services
Chorley-based security specialist Churchill Support Services has bought Vanguard Cleaning for an undisclosed sum.
The move secures over 300 jobs at Vanguard’s headquarters in St Martins in Shropshire.
Vanguard director James Crompton will remain with the business.
Bare Bar
Bare Bar, a Clitheroe-based producer of natural personal care products, has received £15,000 of additional funding.
Founded in February 2021, Bare Bar was first established to produce natural soaps, providing an alternative to mass-produced products.
Bare Bar has received an additional £15,000 facilitated by Hyndburn Enterprise Trust. This funding will predominantly be used to scale its website, improving the customer experience and journey. The business will also be further investing into its product offering, with developments currently underway on a range of natural deodorants.
Northern Gritstone
Northern Gritstone, the investment business focused on university spinouts and technology-enabled businesses in the North of England, has announced its investment in Silveray, the developer of an ultra-efficient X-ray detector technology.
Originally founded at the University of Surrey in 2018 by Professor Ravi Silva, Silveray relocated to Greater Manchester in 2022.
The funding will enable Silveray to continue expanding its team, establish its technology into dedicated premises in Stockport and initiate product development.
BREC (Holdings) Ltd
A Preston-based conveyor belt services company has been sold to a French company.
BREC (Holdings) Ltd, which also specialises in on-site vulcanising services, has been acquired by Bordeaux-based investment holdings company Richemon Group International.
The deal enables an exit for BREC’s founding shareholder and director Geoff Toft who started the company in 1975
BREC’s existing management team, led by managing director Steve Peruzza, will continue to oversee operations.
Lookers
Manchester-headquartered car dealership group Lookers, has bought Fourways Vehicle Solutions based in Whitchurch, Shropshire.
Fourways manages in excess of 7,000 rentals per annum and in 2022 had total revenue of £3.8m.
Chief executive Mark Raben said: "We are very excited to welcome Fourways to Lookers. Over the last 20 years, the team have built a reputation for providing industry-leading service to many high-profile customers seeking corporate vehicle solutions."
James Fisher and Sons
James Fisher and Sons has sold the entire issued share capital of James Fisher Nuclear Holdings Limited and related properties to Myneration Limited, a wholly-owned investment vehicle of Rcapital Partners LLP.
Existing management and staff will remain with the business as it transitions into new ownership and Rcapital will provide JFN with a £3m secured revolving credit facility to fund the growth of the business going forward.
PAR Group
Manchester and Preston-based PAR Group, a manufacturer and supplier of engineering plastic, insulation and rubber products, has acquired Guildford-based Aquarius Plastics for an undisclosed sum.
Founded in 1986, Aquarius was one of the UK’s leading suppliers of plastic sheet, rod and tube materials, while also offering machining, fabrication and cut-to-size services.
PAR Group was advised by accountancy and business advisory firm Beever and Struthers, led by corporate finance director Dean Curtis and supported by corporate finance manager Patrick Wilson.
Legal advice was provided by a team at Napthens led by corporate partner Robert Dobson, assisted by associate Jayne Croft. Aquarius was provided with legal advice by Barringtons Solicitors.
READ MORE:
