MLR Networks in MBO

MLR Networks, a cable installation company, has been bought by its management team. Ian Morris led the MBO and is now managing director of the Widnes-based company.

Other done deals

  • Trojan, a Birmingham-based corporate clothing supplier, has secured new working capital to keep trading after receiving a combined trade and invoice finance line worth £1.5 million from Davenham, an asset-based lender to the SME sector.
  • Russian gold miner Peter Hambro Mining has raised £72 million gross (£68 million net) to reduce its short-term debt obligations.
  • Symphogen, a Copenhagen-based biopharma venture, has secured €33 million (£29 million) in a fifth round of funding. Essex Woodlands Health Ventures led existing investors in the round, which will be used to mature the company’s product pipeline of antibody therapeutics, particularly within the field of oncology.

Deals in the Pipeline

  • Private-equity backed Eurotel, a voice, data and internet services provider for the SME sector, has announced that it has acquired several assets from Griffin Internet. The terms of the deal remained undisclosed.
  • Italian infrastructure group to motorway operator Atlantia said it remains on the hunt for acquisition opportunities overseas. CEO Giovanni Castellucci said that the company is keen to make the most of opportunities thrown up by the difficult economy.
  • Cintra, a Spanish motorways and car parking group, is preparing to offload its car parking venture in a deal that could be worth up to €500m, according to sources.
  • Clothing chain Austin Reed has agreed to buy women’s wear company Viyella from its administrators, securing around 230 jobs. Viyella had some 450 employees when it collapsed into administration last month.
  • Shares in Coffeeheaven jumped more than ten per cent on market talk that Whitbread, the UK’s largest hotel and restaurant operator, may bid for the AIM-listed coffee bar operator, traders said.

Marc Barber

Raven Connelly

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

Related Topics

Venture capital funding