Mon, 26 Mar 2012 | DIVISION SALE
The Co-operative Group is eager to sell Sunwin Services, its cash handling division, to raise the funds to facilitate its purchase of a portfolio of Lloyds’ bank branches.
Advisers from Buckingham Corporate Finance have been brought in to secure a new owner for Sunwin Services, which provides secure transport of money for shops and cash dispensers, IT services and fire security.
While a price for the business - which has a 1,500-strong workforce – is uncertain, industry experts have placed its value in the region of £30m to £40m. It is expected that Sunwin will attract other security and facilities management firms and private equity buyers.
Lloyds is still in negotiations to sell its 632 bank branches to the Co-op, having fallen behind schedule. The outline of a deal was due to be ready by the end of this month. The Co-op emerged as Lloyd’s preferred buyer for the branches in December.
Lloyds is disposing of a large chunk of its bank branches to satisfy the conditions by the European competition regulator on the £20 billion in state aid it received at the onset of the credit crunch.
After its purchase of Britannia in 2009 the Co-op operates 343 branches and has 6.5 million customers, who hold current accounts, credit cards and mortgages.
This is a chance to acquire a longstanding and reputable manufacturer of modern concrete garages, with roots dating back to the 1940s.
This well-established haulage company in West Yorkshire offers a strategic location with easy access to major motorway links and a strong, loyal client base developed over 20 years.
This is a rare opportunity to acquire this thriving motor vehicle repair, MOT, and service centre. This professionally run business currently provides the majority of its services to private customers with a small amount of commercial work, which pro...
04
|
Apr
|
WPP buys data collaboration platform InfoSum | BUSINESS SALE
WPP has bought data collaboration platform InfoSum to boost ...
03
|
Apr
|
Cambrian Training Group chooses employee ownership | BUSINESS SALE
Cambrian Training Group is celebrating its 30th birthday by ...
03
|
Apr
|
Mobeus sells investment in Star Brands after boosting EBITDA by 15X | BUSINESS SALE
Equity investor Mobeus has sold its investment in Star Brand...
11
|
Mar
|
Yorkshire accountants Shenward buy London peer as part of expansion drive | BUSINESS SALE
Yorkshire accountancy firm Shenward has expanded into London...
30
|
Dec
|
Pharmacy M&A expected to stay healthy in 2025 | BUSINESS NEWS
Nearly 10 per cent of UK pharmacies were bought in M&A deals...
28
|
Nov
|
Walsall health firm acquires 36 former Lloyds pharmacies | BUSINESS SALE
Jhoots Pharmacy, a community health business based in Walsal...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.