Today's West Midlands business news from Insider |
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West Midlands
Thursday 18 March 2021

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National Grid to acquire Western Power Distribution in £7.8bn deal

A deal has been agreed for Warwick-based National Grid to acquire Western Power Distribution, an electricity distribution business which serves approximately 7.9 million customers and employs more than 6,500 staff, for an equity value of £7.8bn. National Grid has also agreed to sell a US-based electricity business provider and announced plans to sell a majority stake in National Grid Gas.
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Insider Feature
Feature 1

Business Matters: Financial Conduct Authority gives “final guidance” on Business Interruption Covid-19 Claims

Emma Wallace from Dains Accountants says the Financial Conduct Authority (FCA) has recently issued further guidance in relation to claims under business interruption insurance policies for losses resulting from the Covid-19 pandemic and UK Government lockdowns.
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Deals

Garland acquired by US partner

Video equipment and services specialist Garland Partners has been acquired by its US channel partner LiveU.
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CMA joins global partners to consider approach on pharma mergers

The Competition and Markets Authority (CMA) has joined forces with counterpart organisations in the US, Canada and Europe to consider its approach to investigating pharmaceutical mergers.
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JD Sports completes $495m deal

JD Sports Fashion has completed its acquisition of a US athletic footwear and apparel streetwear retailer in a deal worth $495m.
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Insider Feature
Feature 2

Business Matters: Why most SMEs aren’t recovering investment from Digital Transformation

Ahead of speaking at a Midlands Business Insider roundtable event - titled “The New Manufacturer: How SMEs are adopting digital tech” - Marcos Kauffman explores the route that SMEs - especially those in manufacturing - should take when adopting new digital technology; and reveals why information data is becoming critical to manufacturers’ growth.
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Business

National Express eyes “strong” recovery after major pre-tax loss

National Express has reported a statutory pre-tax loss of almost £450m in new full-year results. However, the company's chief executive said that the business is well-positioned for a "strong" recovery.
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Resilient year at Portmeirion Group

The chief executive of Stoke-on-Trent-headquartered homeware maker Portmeirion Group has said the business showed "great resilience" as Covid-19 hits revenue and pre-tax profit.
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Freeport to attract millions of pounds of global investment – senior official

Having a freeport in and around East Midlands Airport will help attract hundreds of millions of pounds of global investment, a senior official has told Insider.
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Turnover tops £100m at Freeths

Turnover at national law firm Freeths has topped the £100m mark in a year when the business also grew its pre-tax profits. The firm's managing partner said that Freeths is "well-positioned" for continued growth.
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Senior Midlands hire for LDC

Mid-market private equity investor LDC has strengthened its Midlands team with the appointment of a new origination director.
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Overhaul of UK audit regime unveiled

A series of reforms to the UK's audit regime designed to safeguard jobs, avoid company failures and reinforce the UK's reputation as a destination for investment have been unveiled by business secretary Kwasi Kwarteng.
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Insider Feature
Feature 3

Business Matters: St Modwen Logistics talks the importance of design, build and maintenance to logistics firms

Rob Richardson from St Modwen Logistics talks about how logistics occupiers are seeking the very highest design, build and maintenance specifications in the marketplace, and how St Modwen Logistics is meeting these requirements with its new Swan Standard.
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Property

£1.9m loan secured for major regeneration scheme

A £1.9m development loan has been awarded to support the regeneration of 4.5 acres of brownfield land in Kidderminster. The proposed scheme will provide new industrial and retail space in the town.
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Gymshark opens North American headquarters

Solihull-based fitness apparel business Gymshark, which was recently valued as a £1bn company, has opened a North American headquarters.
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Octopus Energy to create jobs with new Birmingham office

Green energy supplier Octopus Energy has chosen a prominent listed building as its first office in Birmingham. The company has said that it plans to create jobs in the city as part of the move.
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Network Rail signs lease at Birmingham industrial scheme

Network Rail has agreed a ten-year lease at IM Properties’ industrial and distribution scheme The Hub in Birmingham.
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£2m investment set for new hydrogen fuel cell development facility

More than £2m is being invested into developing a new hydrogen fuel cell development facility at Coventry University.
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Office Principles completes work on £1.6m refurbishment

Office Principles has completed work on the first phase of a £1.6m Birmingham office refurbishment.
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Manufacturing

NP Aerospace completes work under MoD contract

Coventry-based armour manufacturer and vehicle integrator NP Aerospace has carried out work as part of an engineering contract under the UK Ministry of Defence (MoD).
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Other News

NEW 2021 Midlands Top 500 Companies Database - contact thousands of the senior decision makers

Member Exclusive News

Work starts on affordable housing scheme

Living Space Housing has commenced construction work at a 6.3-acre site in Telford to provide new affordable homes.
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Cameron Homes sets up Covid testing centre

Cameron Homes has opened a drive-thru lateral flow Covid testing centre, which is open to all employees at its Chasetown headquarters.
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Services & Guides

Corporate Finance Directory

Corporate Finance Directory

Find an adviser to help you buy, sell or invest in a business.
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Best Places to Meet

Best Places to Meet

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Best Places to Stay

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