Deals round-up: week ending Nov 6

The company: W H Ireland, the Manchester-based stockbroker.

The deal:  WH Ireland has sold a near 40% stake in its Australian subsidiary, DJ Carmichael Pty, to management, including chairman Rupert Lowe and employees of the Australian business.

The value: Around £700,000. However, the group business is also entitled to dividends from future profits and a share of a deferred tax asset worth around £220,000 taking its proceeds from the sale to £920,000.

The story: This deal takes WH Ireland’s shareholding in its subsidiary down to around 37%. WH Ireland paid around £1.3m for 51% of the Australian company in 2005, later increasing its holding. The group said the price being paid for the shares was “marginally below” their carried value, but it said the cash deal would increase working capital.

The quote: Group chief executive Richard Ford said: “This deal represents an excellent development for all parties. It incentivises the local management and employees of DJ Carmichael to maximise its future growth with the benefit of the team’s in-depth local knowledge and experience.”

The advisers: Oriel Securities

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The company: Universities Superannuation Scheme, the pension fund manager based in Liverpool that has property assets of more than £1.8bn.

The deal:  USS has bought the 773,000 sq ft Great Western Industrial Park in London from Segro Plc. The park includes 27 production and warehouse units and tenants include food and beverage companies Noon Products and Delifrance.

The value: £110.4m

The story: The deal represents a net initial yield of 6.9%, which rises to over 7% once outstanding reviews are settled. As part of the sale, Segro has pre-sold a future development of 36,575 sq ft at Western Point, which also forms part of the industrial park.

The quote:  Graham Burnett, USS’ head of property, said: “fund has now invested in excess of £450m into UK property so far in 2009. We continue to actively pursue other opportunities of similar quality.”

The advisers: King Sturge advised USS and Savills advised Segro.

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The company: Calibre Solicitors, based in Eccles.

The deal: Acquired Branton Bridge LLP, in Salford from joint administrators Vantis Business Recovery Services and Blue Gate Capital, for an undisclosed sum.

The story: Branton Bridge entered into administration on October 30, so this deal has saved around 30 jobs. Administrators said the firm had been unable to pay its debts, although it had also been affected by problems in securing professional indemnity insurance. Calibre, which has taken over some 2,200 cases from Branton, will trade under the name Legal Gateway Solicitors.

The quote:  David Thornhill, client partner at Vantis BRS, said: “We are confident that the clients of the firm will receive proper continuity of care as a result of the transfer, although it will be up to individual clients to determine whether their case is dealt with by Calibre, trading as Legal Gateway Solicitors. We hope that by completing this deal so quickly the realisations from assets will be increased – allowing us to maximise the return to the creditors.”

The advisers: Vantis Plc for Branton Bridge.

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The company: Gym Screen Media, based in Heaton Mersey, Stockport, which produces bespoke TV channels to health clubs across the country for marketing to and entertaining gym members.

The deal: It has been acquired by US-based Zoom Media for an undisclosed sum.

The story: Gym SCreen’s clients include David Lloyd, Virgin Active, DW Sports Fitness and Total Fitness. Zoom said the company’s 160 venues will add to its existing portfolio of gym locations across the UK, taking its total to more than 650 locations.

The quote: François de Gaspé Beaubien, chairman and chief executive of Zoom Media, said: “Digital media is a dramatic game changer and we believe this is the ideal time to invest in offering our advertisers, as well as our venue partners more solutions to address their respective challenges.”

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Click here to see our full deals table, which is update weekly.

Data source: Corpfin Worldwide