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Monday, March 2nd, 2015


Codebase boss wants to fill gap

Exclusive: Coleman plans £10 million venture fund for growing firms

Jamie Coleman

Jamie Coleman, who heads up Britain’s biggest technology incubator, intends to raise a multi-million pound fund this year to fill a gap he believes is holding back Scotland’s growth firms. The managing director of Codebase is to launch a venture fund, probably £10 million, to invest in those companies who struggle to raise capital beyond seed and angel level funding. His fund will target those needing more than £500,000 and thereby help retain and build companies that often have to go elsewhere to get it, or else relocate. “With £10m, and a 3%Read More

Firm poised for further expansion

Esh opens in Livingston and hires 15 staff

Esh border free

A company currently preparing Gullane Golf Course for this year’s Scottish Open, has opened a Livingston office and is hiring 15 staff. Esh Border Construction, part of Esh Group following its acquisition last year of Border Construction, is also working on two social housing projects in Hawick and three contracts for NHS Lothian. The combined value of the work is £10.5 million. The Livingston operation will be a base for business creating an initial five jobs with 10 more expected in the coming months. Simon Phillips, regional managing director for Scotland, described theRead More

Transformation work under way

New events venue at College of Surgeons

Royal college of surgeons

It is one of the most august institutions in Scotland, known worldwide for providing training and support for medical research. However, it’s not averse to hosting ceilidhs, weddings and even children’s parties. Ambitious work is under way at the Royal College of Surgeons of Edinburgh as it develops into one of the most flexible conference and events venues in the city. A £1.5 million revamp of a former Edinburgh University language school building will transform it into three floors of event space. The Royal College of Surgeons of Edinburgh Commercial EnterprisesRead More

Devlin moves to Scott-Moncrieff as partner

Business advisor and accountancy firm Scott-Moncrieff has announced that Gary Devlin, who specialises in public sector finance, has joined as a partner from Grant Thornton. He will work with the 31-strong public sector team at Scott-Moncrieff and support the firm’s expansion plans in Scotland and the North of England. Scott-Moncrieff’s public sector team continues to dominate in this market.  The firm has won places on a number of significant panels and frameworks including Advanced Procurement for Universities and Colleges (APUC Ltd).  The firm is also part of the UK Government’s ConsultancyONE framework, useRead More

MacDonald takes over as CEO of Wood Group Kenny

Bob MacDonald

Wood Group Kenny has appointed Bob MacDonald as chief executive. He moves into the role from his position as WGK regional director for the North Sea. Mr MacDonald succeeds Steve Wayman who now becomes Wood Group’s head of strategy and development. He is replacing Ali Green who will step down from his current role but will continue to provide support to the team until he leaves later this year. With more than 20 years’ experience in the oil and gas industry, Mr MacDonald joined WGK in 2003 having worked inRead More

Cridland says UK is 'missing a trick'

CBI calls on Treasury to support non-bank finance

Companies’ ability to access non-bank finance has not taken off despite a government review into alternative lending three years ago, says the CBI. It has today called for a new push on this form of financing to give mid-size companies a greater opportunity to find investors willing to provide large sums without the need to seek a public listing. The CBI says in its report Financing our Future Economy that non-bank finance has provided just £4 billion since 2013. Two thirds of global trade finance providers (69%) said complex anti-money laundering regulation and ‘knowRead More

Mon City brief: Record highs in UK & US; M&S unveils China expansion

The London stock market continued its march towards 7,000 this morning, rising 0.3% to a record intraday high of 6,974.26 points after falling back on new worries over China’s growth and the effect on miners. It turned negative and closed down 6 points, or 0.1% at 6,940.64. The Nasdaq closed above 5,000 for the first time since 2000, while the S&P 500 and the Dow Jones Industrial Average scored new records. Investors brushed off slightly disappointing data, seemingly content with the fact the U.S. economy is still growing, albeit, at aRead More

Frame and McCann join CMS as partners

CMS, which last year merged with Dundas & Wilson, has hired partners Shona Frame and Ian McCann, adding further resource to the firm’s growing construction team in Scotland. This marks its fourth high profile appointment in just over a month, as CMS continues to build on its market-leading position. Ms Frame, a construction disputes specialist, will from MacRoberts. With over 20 years’ experience, she advises on all forms of construction dispute resolution. She has a dual accreditation by the Law Society of Scotland as a specialist in construction and arbitration law. Mr McCann,Read More

Owners will consider trade sale

Oil consultancy Wood Mackenzie considering £2 billion IPO

Wood Mackenzie

Oil consultancy Wood Mackenzie is believed to be planning a  £2 billion stock market listing, although trade buyers have already shown interest in acquiring the business. The Edinburgh company’s owners are said to be keen on a flotation unless bidders come in at above £1.8bn. It is owned by San Francisco based private equity firm Hellman & Friedman which has recently hired Lazard to advise on options for the future. US data group Verisk Analytics offered £1.6bn for the company, according to the Financial Times, which said McGraw Hill Financial,Read More

Orders and staffing take hit

Scottish industrial confidence on wane as global trade dips

Optimism among Scottish industrial companies has slumped as a result of weakening global trade. New figures show orders, output and payroll numbers all falling following the slowdown in China, hardship in the eurozone and Russia and the lower oil price. The decline in confidence has been sudden with order intake in both the export and domestic markets dipping in the last quarter from the strong positive figures in the previous three months. Similarly staffing levels which have been growing for a number of years have declined in the last quarter as hasRead More