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Birmingham Post
Birmingham Post
Business
Jon Robinson

JD Sports, Bolton Wanderers and YFM Equity Partners: The latest 12 North West deals

Household names such as JD Sports and Bolton Wanderers have announced a series of high-profile deals over the last week or so.

Law firms and private equity giants have also hit the headlines.

Below, BusinessLive has rounded up 12 of the biggest deals from across the region from the last couple of weeks we feel you should not miss.

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READ MORE: Boohoo slumps to £91m loss as the cost-of-living crisis squeezes shoppers

If you have a new deal that you would like featured in our next round up, please e-mail jon.robinson@reachplc.com.

JD Sports

JD Sports is headquartered in Bury, Greater Manchester (JD Sports)

JD Sports is to acquire France's Courir in a deal worth €520m.

The Greater Manchester-headquartered group is to pay €325 for the company, funded through existing cash resources, and take on debt of €195m.

Courir is currently majority owned by Equistone Partners Europe which acquired it in 2018 and has 313 stores across six countries.

Read the full story here

Bolton Wanderers

Bolton Wanderers have launched a fundraising drive to aid the likes of player recruitment which could see the club secure an extra £3.5m.

The club, who are preparing for the League One play-offs, are also looking to use the additional funds to improve training facilities and towards advanced sports science as well as club infrastructure connectivity at the stadium, which is "long overdue".

The Wanderers Bond has a 8.5% interest per year and is fixed for five years.

Read the full story here

Sticky

Priscilla Israel and James Garner, co-founders of Sticky (Colin Boulter Neilson Reeves Photography)

A Manchester technology company aiming to tackle "inefficient and unprofitable" shopping areas has raised £1.5m.

Sticky, which was co-founded by Priscilla Israel and James Garner in 2020, has secured the seed funding in a move led by Praetura Ventures with backing from Cornerstone VC and follow on funding from SFC Capital as well as new angel investors.

The funding will help the business to increase its revenue and to continue to build its "partner ecosystem".

Read the full story here

Cardinal Global Logistics

A logistics giant has become the "biggest employee-owned company of its kind in the world" in a move which its CEO has hailed as "transformational".

Manchester-headquartered Cardinal Partnership has been formed out of Cardinal Global Logistics and Far Logistics.

The business can trace its roots back to 1998 when it was founded in Eccles with a £15,000 loan.

Read the full story here

Resulting IT

YFM Equity Partners (YFM) has backed the buy-out of Warrington technology company, Resulting IT, via a £9.3m investment.

The company's clients include the likes of Transport for London, Asda, Leeds University and NHS 24.

Stuart Browne, Resulting IT managing director, said: "Securing a partner like YFM validates the strong positioning we’ve established as the UK’s leading independent ERP consultancy.

"YFM's investment will enable us to accelerate our growth and extend our services to help even more companies, across a wider range of sectors, without sacrificing quality of delivery."

Advisers on the deal included: Blacksquare Advisory (buyside M&A), Armstrong TS (commercial DD), Cortus Advisory (financial DD), Catalysis Advisory (organisational DD), Alexander & Co (tax structuring), John Dowell (IT DD), Ian Fisher (operational DD), Lockton (insurance DD), Hill Dickinson (legal advisers), BDO (vendor financial DD), KPMG (vendor M&A), Brabners (vendor legals).

Five Wealth

Foresight Group has invested £6.7m in Five Wealth to support equity release for existing shareholders and provide additional growth capital.

The company is a Manchester-based boutique financial planning business operating primarily in the North West of England with clients across the UK.

Founded in 2016, the business has over £670m of assets under management and 27 employees.

Chesnara

(Shared Content Unit)

The Preston-based owner of Countrywide Assured has reached an agreement with Canada Life to acquire its onshore individual protection line of business, which was closed to new business in November 2022.

As a result of the acquisition, the life insurance and critical illness policies for approximately 47,000 customers will transfer to Chesnara's UK subsidiary, Countrywide Assured plc.

The consideration as part of the reinsurance agreement is £9m, funded from internal group resources.

DSW Ventures

Ellie Boardman, Keith Benson, Emma Cassidy and David Smith of DSW Ventures (DSW Ventures)

DSW Ventures, the venture capital business of the Dow Schofield Watts group, has announced the first close of its debut Seed Enterprise Investment Scheme (SEIS) fund, providing the capacity to invest up to £2m in regional start-ups.

The DSW Ventures SEIS Fund will target early-stage technology businesses and university spin-outs outside the London-Oxbridge 'golden triangle'.

The firm aims to invest the entire £2m in the current tax year, and hopes the initial fund will become the first of a series launched in each new tax year.

ScubaTx

ScubaTx has raised £1.5m (ScubaTx)

ScubaTx, a healthcare start-up that has developed new technology to support organ transplantation, has raised £1.5m in funding, including investment led by the GMC Life Sciences Fund by Praetura and grant funding from Innovate UK.

The company will use the investment to enhance its designs and develop its device, as it looks to obtain the permissions to sell its products worldwide, with a specific focus on the UK, USA and mainland Europe and an initial eye on pancreatic procedures for patients with diabetes.

Founded in 2020, ScubaTx is a pre-clinical company that has developed a prototype organ transportation device that extends the time that human organs are viable for, with the goal of transforming organ transplant procedures worldwide.

Slater Heelis

Slater Heelis has acquired insolvency law specialist N J Goodman &Co in Altrincham for an undisclosed sum.

As part of the deal, all four staff from N J Goodman & Co have joined Slater Heelis and will be based at their new headquarters at Crossgate House in Sale.

This includes the firm’s owner, Nick Goodman, senior solicitor, David Vernon and two administrative support colleagues, Alison Lowe and Lynsey Walker.

Bromleys

Brian Cullen and Joanna Kingston-Davies from MAPD (Jason Roberts)

Ashton-under-Lyne practice Bromleys has joined the MAPD Group.

The firm, which is now to be led by managing partner, Paul Westwell, will maintain its name and brand, with the ownership being transferred to MAPD but with Mr Westwell retaining an interest.

Bromleys has been located in Ashton-under-Lyne for over 180 years.

The Progress Group

(Shared Content Unit)

Bootle-based The Progress Group (TPG) has acquired eLearning provider AC Education.

FRP Corporate Finance advised on the deal which has been completed for an undisclosed sum.

The Progress Group is a national education and training provider, specialising in supporting individuals from the age of 11 upwards through the delivery of careers advice, alternative education and adult training spanning several sectors.

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