Watch: Insider's Business Briefing - 27th February 2025 - video Dailymotion

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Adam and Stephen discuss the redevelopment of a former brewery, the acquisition of a manufacturer and a rescue deal for a book printing business.

Transcript

00:00The redevelopment of a former brewery, the acquisition of a manufacturer and a rescue

00:04deal for a book printing business feature in today's Business Briefing.

00:13We'll start off in Yorkshire today with the news that a US private equity firm has acquired

00:17a majority stake in HFU manufacturer. Independent Forgings and Alloys operates around the 670,000

00:23square foot facility in the city and can actually trace its history back to 1587 when the first

00:28forging activity was recorded on the site. The company today provides customers with

00:34mission critical components for applications in industries such as aerospace and defence,

00:39oil and gas and power generation. The majority stake in IFA has been bought by Triave Capital

00:47which is experienced in the aerospace and defence sector. The senior management team

00:51at IFA have also reinvested in the business and will continue to lead it going forward.

00:56The deal has also provided an exit for BGF which invested back in 2018. Since that investment,

01:02IFA has more than doubled turnover and has also increased the footprint of its production

01:07facility with the acquisition of a competitor. IFA is now targeting further growth following

01:14its latest deal so it looks like a bright future there for that company.

01:17Big steel news for the Steel City of course. Moving on to property now, regarding a former

01:23brewery site which actually dates back to the 19th century. Located in the Wiltshire

01:29town of Devizes, it could soon be redeveloped into a residential and retail scheme. The

01:36site is situated on Northgate Street and currently hosts several buildings associated with Wadworth's

01:41Brewery which is now relocated from the site. In May 2023 Backhouse Housing Ltd submitted

01:49an application for a listed building consent to redevelop a significant portion of the

01:56site. Following revisions, the scheme now proposes 102 residential units and about 3,000

02:03square feet of retail space. Now, Wiltshire Council's Eastern Area Planning Committee

02:09will consider the scheme at a meeting later today so definitely worth keeping an eye on

02:13the result for that one. Yeah, it should be an interesting discussion.

02:17Well, it's a big day for Southwest News today. We've got a second story there with the announcement

02:22that a Cornish book manufacturer has been sold out of administration in a deal that

02:26has safeguarded 130 jobs. TJA Books is based in Padstow and has a history going back more

02:32than 50 years. Jimmy Saunders from KR8 Advisory was appointed as the administrator of the

02:39company on the 21st of February, so last Friday. Following the successful marketing process,

02:44KR8 then subsequently sold the business and assets of the company to Clay's Group. The

02:51company had faced headwinds as a result of the widespread economic challenges. They'd

02:56also been compounded by an unsuccessful expansion plan following an acquisition. The deal is

03:03expected to secure the long-term future of TJA Books, so great news there. KR8 itself

03:10is a relatively new name in the sector. It was launched in January and is part of the

03:15restructuring division of K3 Capital Group. Hopefully that means it can be a positive

03:20future for the business after a difficult period. It looks like it could be a better

03:23future, yeah. Anyway, I've got another story regarding another historic site with a property

03:30and construction consultancy having relocated to a Grade 2 listed building in Nottingham.

03:36Edge is the company involved and said its 40-strong Nottingham team had outgrown its

03:41previous premises at Heritage Muse. It has now moved to the Birkin Building in the city's

03:45Lace Market. The building was built in 1854 and was actually the international headquarters

03:53of lace manufacturer Birkin & Co. The move is hoped to support Edge's national growth

03:58plans. It's interesting we've had another story regarding the Lace Market with the Birkin

04:03Building currently available for sale with two other buildings at the city's Lace Market

04:08having been acquired. A deal which you can read about on Insider right now. That's right,

04:14well for more on that story and for any others we've spoken about today, visit InsiderMedia.com.

04:19You can also sign up for the daily news bulletins and find out about some of the upcoming events.

04:22Thank you for watching. Thank you.

Watch: Insider's Business Briefing - 27th February 2025

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