Mechplant Northeast Limited, based at the Port of Tyne, South Shields, has acquired D&K Plant Hire Limited in Newcastle, which supplies plant and equipment to construction companies in the North East.
Haines Watts advised Stephen Makinson and Brian Wray, shareholders of plant leasing company Mechplant, on the deal, saying the acquisition will further cement Mechplant’s position as one of the leading plant leasing services factories in the region.
Mr. Makinson said, “We have acquired a well-established company with an excellent reputation in the equipment rental industry. Now we look forward to developing and building on the good work done by the previous owners.
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“There was a year-end completion deadline required by both parties and the guidance and support provided by Haines Watts enabled the deal to be completed as planned.”
Off-site construction specialist Health on merit is advancing a £66m deal after securing an investment.
Cramlington, part of Merit Holdings, was launched in October 2020 to recognize its prowess in the healthcare and life sciences industry. Since its launch, the company has won and completed a number of significant projects.
Last November, Merit – a former North East Company of the Year – was named prime contractor for the construction of the UK’s first CAR-T cell manufacturing plant in Stevenage, a deal which will see it using its next-generation off-site construction techniques.
Today the company secured £2million from the Tees Valley Catalyst Fund (TVCF) to enable it to fulfill the contract, the highest amount available from the TVCF.
A fintech company launched by one of the founders of digital pioneer Atom Bank has secured a £1.3m investment round.
Banker and entrepreneur Craig Iley – who has previously co-founded two challenger banks in the UK – launched Corporate finance market (BFM) to streamline the lending process that brings lenders and SMEs together to help them find the right financing for their business.
The new technology gives SMEs access to faster funding decisions, while providing lenders with a fintech platform that will help manage the end-to-end application process, improve information and increase the flow of transactions, to speed up credit decisions.
Storm king windows based in Bishop Auckland, was acquired by Countrywide Property Group Holdings Limited, launched in Dalton, near Ponteland, late last year for an undisclosed sum.
The company has been providing glazing products and services since 1992 under the leadership of founding partners David Taylor, Nigel Thompson and Neil Clarey.
Mr. Thompson, owner and director of Stormking, said: “We had tremendous support from Graham, Matt and the team at Azets who advised and helped us navigate and negotiate the transaction. We appreciate the team’s dedication in managing a smooth process throughout the transaction and in achieving a successful transaction. »
Mr. Waters said: “It is always good to see strong, long-established businesses move into new hands to open a new chapter of growth. We were delighted to advise shareholders on the sale to Countrywide Property Group Holdings Limited.
Northeast Crafts Katy Sue bought one of its biggest competitors in what it says is a “significant expansion in the UK and internationally”.
South Shields, which has adopted a buy-and-build strategy since receiving a major investment in 2017, has acquired the business assets of Kanban Crafts, a popular Brighouse-based paper crafts brand on shopping TV channels in the UK and Germany.
The Kanban deal brings additional papercrafting capability to the Katy Sue business as well as over 20 years of designs and creative content. The brand will continue to be marketed in the UK and Germany.
Luxury carmaker Aston Martin has signed an agreement with Britishvolt as it develops a gigafactory to produce batteries for electric vehicles at its plant on the Northumberland coast.
The memorandum of understanding is part of Aston Martin’s plans to launch its first battery-powered vehicle by 2025 and provides further impetus to plans for the Cambois gigafactory, near Blyth.
A joint research and development team from the two companies will design, develop and industrialize battery packs, and work together to maximize the capacity of special high performance cells developed by Britishvolt for use in Aston Martin high performance electric vehicles.
Northeast Maker Isoclad expanded with a new factory in South East Wales.
The North Shields-based company manufactures insulated composite panels used in the construction of everything from medical clean rooms to ice cream factories and has now opened a 124,000 square foot plant in Monmouth.
It follows a seven-figure equipment financing program from HSBC and will see Isoclad expand its product portfolio with the launch of Securiclad and Customclad.
Based in Newcastle SA Specialized Alarm Services (SAS)was acquired by Swedish investment group Lifco with a promise to help management scale the business.
The undisclosed deal means Lifco will acquire all of the issued share capital of SAS, a downtown-based company that designs, manufactures, supplies, installs and services specialist alarm systems, primarily for the healthcare sector.
Shares in the company, founded around 40 years ago, were purchased from sole shareholder and technical director Daniel Eastwood, who led a debt-financed MBO of SAS in 2008.