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July 3rd headlines

By Paul Driscoll on July 03 2007

In today's news round up, deals signed off include London Scottish Bank's sale of its Manor Credit leasing business to asset-based lender Davenham for £25 million.

Done deals:

IT support company Adventi has acquired the IT services company Integral Arm for an undisclosed sum

London Scottish Bank has sold its Manor Credit leasing business to asset-based lender Davenham for £25 million

Property managers Ascot Group has acquired the Shorrocks Hill Country Club for £40 million to expand the leisure facility into the corporate market

Consolidated Vending has acquired KR for £600,000, adding to its supermarket coin-operated ride portfolio

SureTrack Monitoring plc, which provides tracking and recovery services to companies with movable assets, has floated onto AIM, raising an initial £300,000

Solicitor firms Keeble Hawson and Frank Allen Pennington have merged, expanding the head count to over 220

Private equity firm LDC has acquired British Salt in a £100 million buy-out from US owners US Salt Holdings

Media company DMGT’s business information division DMG has acquired software company QUEST for an initial £28 million, with up to £8 million in performance-related pay available over the next two years

Real estate fund management group Invista Foundation Property trust has raised £111 million of securitised debt from the sale of Reserve Notes to fund future acquisitions

Vertu Motors has purchased Ford’s Northumberland outlet in Morpeth from the Jennings Group for £2.6 million, re-branding it as Bristol Street Motors

Digital Marketing Group has acquired creative digital agencies Graphico New Media for £8.6 million and Hyperlaunch New Media for £3.5 million

Deals about to happen…

Media agency Reuters is to acquire fund research company Feri Fund Market Information from its German-based parent Feri Rating & Research for £2 million

Biopharmaceutical developer Bioprocess is to acquire Vienna-based natural health products supplier Melbrosin for up to £24 million

Orchard Care Homes is to undergo a £175 million management buy-out, and has just raised £70 million in a sale and lease-back deal to real estate investment managers Invista and Prestigic Holdings

South Ribble Council is considering to allow property developer Hurstwood to renovate a £2 million Bentley car showroom at the South Rings Business Park

Heathcotes is to invest £3 million in the expansion of its chain of 12 existing restaurants by 2008

Private equity firm Providence is one of four bidders competing for a 67% stake in Dublin-based electronic payment systems operator Alphyra, worth about 475 million (£320.4 million)

The private equity arm of Hermes Pensions Management, Hermes Private Equity, has invested £300 million into a third direct private equity fund, Hermes Private Equity Partners III

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