TI Fluid Systems rebuffs bid from Apollo-backed ABC Technologies September 16, 2024 British car part supplier TI Fluid Systems has rejected two offers from rival Canadian firm ABC Technologies, concluding they “significantly undervalued” the London-listed firm. The FTSE 250 constituent, which specialises in fluid handling and operates nearly 100 manufacturing countries in 27 countries, confirmed in a statement that it had received a second “unsolicited, highly preliminary” [...]
Bain Capital reportedly weighing sale of Direct Line rival esure September 16, 2024 Private equity giant Bain Capital is reportedly considering selling British motor and home insurer esure in the latest sign of M&A in the sector.
TT Electronics issues profit warning amid ongoing challenges at US factories September 16, 2024 Components manufacturer TT Electronics has downgraded its guidance as it struggles with “operational efficiency issues” at two of its North American sites, it said today. The London-listed company, which is headquartered in Woking, said it anticipated its revenue to be £15m to £20m lower in the six months ending December 30, 2024. In turn this is [...]
Wilmington: Profit and revenue soar at data provider September 16, 2024 Data provider Wilmington has hailed “another strong year” after it posted double-digit profit growth and revenue. The London-listed firm, which in the summer offloaded its UK healthcare unity for £26.3m, saw its profit before tax soar 42 per cent to £24.1m in the year ended 30 June. Its profit margin rose a quarter to 26.8 [...]
Henry Boot: Property developer takes key step toward 3,000-plot goal with major Coventry land sale September 16, 2024 Property developer Henry Boot has taken a significant step toward its goal of selling 3,000 plots this year, after completing a sale of nearly 500 plots to a national house builder. The London-listed firm, which is headquartered in Sheffield, confirmed its land promoter Hallam had sold 491 residential plots at Pickford Gate, Coventry, to the [...]
Keywords expects better second half as video game sector picks up September 16, 2024 Video game developer Keywords Studios said it expects a better performance in the second half of the year, as organic growth for the first half after came in lower than expected amid “mixed markets”. In its half year results to 30 June 2024, Keywords posted revenue of $440m (£334m), up seven per cent year on [...]
JTC snaps up Citi Trust as it continues transatlantic takeover spree September 16, 2024 FTSE 250 corporate solutions firm JTC has struck an $80m (£60.7m) deal to expand its financial services division with a new acquisition – the latest in a string of recent takeovers. The London-listed company, which is headquartered in the city, revealed it had bought out the US-based fiduciary business Citi Trust from Citi Bank in [...]
Science in Sport: Revenue down by a quarter but restructuring will ‘return firm to growth’ September 16, 2024 Nutrition specialist Science in Sport has said it is confident that the business will “return to growth” after a sharp drop in revenue during the first half of the year. The London-listed company, which sells a range of protein powders, electrolyte products and nutritional supplements, said that revenue fell by 25.4 per cent to £25.7m [...]
Playtech spices up deal with Mexican venture Caliplay September 16, 2024 Playtech has renegotiated its terms with Mexican gambling operator Caliente, securing a 30.8 per cent equity stake in Caliente Interactive, the new holding company for Caliplay, incorporated in the United States. Under the terms of the deal, the London-listed gambling tech provider will also gain the right to appoint a director to Cali Interactive’s board, [...]
Thought Machine boss backs London listing for $2.7bn fintech September 16, 2024 The chief executive of Thought Machine, one of Britain’s most valuable fintechs, has thrown his weight behind a London IPO, but admitted he is under pressure to list in New York.