A series of acquisitions have been announced by a number of companies across the North West in the telecoms, IT and property sectors.
The first deal saw Lancashire-headquartered Rinus Roofing Supplies snapped up by Cupa Group’s subsidiary Burton Roofing Merchants for an undisclosed sum.
Rinus, a family-owned business headquartered in Darwen and founded in 2007, is the second largest independent distributor of roofing products in the UK, employs 184 people and has a portfolio of more than 2,600 clients.
Javier Fernández, chief executive of Cupa Group, said: “We are excited to welcome Rinus to the Cupa family.
“We were attracted to the company given its strong track-record and solid market position in the UK which place it in a solid position to further expand its presence and continue its growth trajectory.
“We look forward to working together to deliver Cupa’s ambitious growth plans, strengthening our product range and expanding our international footprint.”
Mark Booth and Giles Taylor advised on the deal from KPMG.
The second deal saw private equity-backed Air IT buy Cheshire-based Concise Technologies, also for an undisclosed amount.
David Southern, managing director of Concise Technologies, added: “Becoming part of the Air IT group will allow us to offer even more strategic and business-enhancing services to our clients.
“We’re excited to join forces with a group of forward-thinking MSPs who recognise the value of digital transformation and world leading service.
“Technology has proven critical in continuing business operations over the past year and we look forward to helping our clients further realise their goals through the innovative new services and support that we will now be able to provide.”
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The third acquisition was made by Crewe-headquartered Radius which has snapped up Rainbow Communications in Belfast.
This acquisition is the eight by Radius in this sector in the last two years.
Radius chief executive Bill Holmes said: “Eric and Martin have built a really great business over the last 20 years and have a strong customer base that includes many of Northern Ireland’s TOP 200 Companies.
“We are really looking forward to working with their team to continue this success and innovate further with products and services over the years ahead.”
A team from EY, led by Steven Kingham and Jace Swift, provided financial and taxation due diligence to Radius.
It has also been announced that Manchester-based Stream Sensing, a specialist in advanced industrial rheology, has secured a six-figure investment from NPIF – Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund (NPIF).
Founded in 2020, Stream Sensing provides next generation flow property sensors used for the quality control of fluid products.
Clients are expected to be manufacturers in the fast moving consumer goods sectors including large blue-chip organisations.
The NPIF funding will allow the business to embark on the next stage of its growth journey, developing a new generation of rheometers that use heat pulse technology to quickly and accurately measure the flow profile of liquid in a pipe.
Ken Primrose, chief executive of Stream Sensing, said: “Our new steps in rheology instrumentation present advances in process efficiency, digital manufacturing and what is called the ‘Fourth Industrial Revolution’.
“I am very excited at the opportunities opening up with the NPIF investment.”