 |
|
Brightside’s trio of deals
Debt services company Brightside has made three acquisitions: Aust Holdings, which owns a 75 per cent stake in Group Direct, the remaining shareholding in the insurance broker, in addition to Injury QED, a provider of medical reports and associated services to the legal profession.
The trio of deals will enable Brightside to move into premium finance and insurance-related medical reporting, which are more profitable areas of insurance broking. The transactions will also bolster the group’s cash reserves as Group Direct made £3.4 million profit from revenues of £23.3 million to the year ended 31 December 2007.
Norwich Union Investments and Stena have agreed to buy a £10.6 million stake in the enlarged group.
Arron Banks, Group Direct insurance director, said: “These acquisitions will give Brightside shareholders an opportunity to be involved in a proven business. Furthermore the backing of Norwich Union and Stena clearly endorses this.”
People also read ... |
Related Articles |
Interesting links
Other Sector Watch
- Investment veteran airs fears over UK biotech Oct 21 2008
- Talking rubbish Jul 28 2008
- Crisis?– what crisis? Jul 01 2008
- Let the
drilling begin
May 13 2008 - Bargains on the high street
Mar 13 2008
M&A News
- Corporates idealistic about M&A Dec 02 2008
- Conference takes M&A global Dec 02 2008
- RedHot Media buys AllChina advertising stake Dec 02 2008
- ESI Group’s US software deal Dec 01 2008
- Adecco takes controlling stake in DNC Dec 01 2008
Special Offers
- 2008 AIM Guide: Jul 17 2007
- Growth Company Investor Magazine: Jul 17 2007
- Cash Shells 2007 - Research report Jul 17 2007
- Venture Capital Trusts Jul 04 2007
M&A Deals
- IMS Maxims acquires CSW assets Dec 02 2008
- Intertek deal to test Eastern Europe Dec 02 2008
- Ultra Electronics gains MidEast foothold Dec 01 2008
- Moto picks up Roadchef site Nov 28 2008
- Accessories 4 Technology's £4m boost Nov 28 2008
Business Diary
- M&A Expanding internationally 27th November
- Rosenblatt New Energy Awards 2009 25th February