Latest news with #Basingstoke-based
Yahoo
15-04-2025
- Business
- Yahoo
British banknote printer poised for US sale after snubbing ex-Tory donor
Banknote printer De La Rue has accepted a £263m takeover bid from US private equity firm Atlas after snubbing a separate approach from ex-Tory donor Edi Truell. The Basingstoke-based company, which prints money for the Bank of England, has confirmed plans to back Atlas's offer, in a move that will see it taken private from the London Stock Exchange. That is despite Mr Truell lodging an eleventh-hour offer worth £267m through his investment funds, Disruptive Capital and Pension SuperFund Capital, which would have required the business to sell off its passport printing arm. It marks an escalating bidding war for De La Rue, which has had a low valuation since it lost its contract to print British passports to Dutch-based rival Gemalto in 2018. Shares in De La Rue jumped by 16pc in response to the latest announcement, taking the company's market cap up to £253m. Meanwhile, Atlas's offer marks a 19pc premium on the company's valuation on Dec 11, which was before any takeover bids had been launched for the 211-year-old firm. Mr Truell previously tabled a 125p per share offer in January, although this has been increased to 132p. A De La Rue spokesman said the board had considered Mr Truell's latest offer last night but concluded that it lacked 'committed financing'. Concerns were also raised over its 'deliverability'. As a result, the company has recommended that shareholders accept Atlas's offer. Mr Truell, a Brexit-supporting City financier, started private equity firm Disruptive Capital Finance in 2008 after building a business empire with his late brother Daniel. He was previously a major donor to the Conservatives but announced plans in 2016 to withdraw his funding from the party over David Cameron's handling of the EU referendum. If approved by shareholders, Atlas' takeover of De La Rue will see it join a portfolio of 27 separate businesses owned by the private equity firm, which is headquartered in Greenwich, Connecticut. Atlas was first founded in 2002 by Andrew Bursky and Tim Fazio, two former colleagues at private equity firm Pegasus. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
15-04-2025
- Business
- Telegraph
British banknote printer poised for US sale after snubbing ex-Tory donor
Banknote printer De La Rue has accepted a £263m takeover bid from US private equity firm Atlas after snubbing a separate approach from ex-Tory donor Edi Truell. The Basingstoke-based company, which prints money for the Bank of England, has confirmed plans to back Atlas's offer, in a move that will see it taken private from the London Stock Exchange. That is despite Mr Truell lodging an eleventh-hour offer worth £267m through his investment funds, Disruptive Capital and Pension SuperFund Capital, which would have required the business to sell off its passport printing arm. It marks an escalating bidding war for De La Rue, which has had a low valuation since it lost its contract to print British passports to Dutch-based rival Gemalto in 2018. Shares in De La Rue jumped by 16pc in response to the latest announcement, taking the company's market cap up to £253m. Meanwhile, Atlas's offer marks a 19pc premium on the company's valuation on Dec 11, which was before any takeover bids had been launched for the 211-year-old firm. Mr Truell previously tabled a 125p per share offer in January, although this has been increased to 132p. A De La Rue spokesman said the board had considered Mr Truell's latest offer last night but concluded that it lacked 'committed financing'. Concerns were also raised over its 'deliverability'. As a result, the company has recommended that shareholders accept Atlas's offer. Mr Truell, a Brexit-supporting City financier, started private equity firm Disruptive Capital Finance in 2008 after building a business empire with his late brother Daniel. He was previously a major donor to the Conservatives but announced plans in 2016 to withdraw his funding from the party over David Cameron's handling of the EU referendum. If approved by shareholders, Atlas' takeover of De La Rue will see it join a portfolio of 27 separate businesses owned by the private equity firm, which is headquartered in Greenwich, Connecticut. Atlas was first founded in 2002 by Andrew Bursky and Tim Fazio, two former colleagues at private equity firm Pegasus.
BBC News
24-03-2025
- Automotive
- BBC News
Winchester electric vehicle charging station largest of its kind
The largest and "most advanced" electric vehicle (EV) charging station of its kind in the UK has new InstaVolt Superhub in Winchester, Hampshire, is located near the A34 and junction 9 of the M3 and is home to 44 "ultra-rapid" on-site solar farm, alongside "cutting-edge" battery storage, will be used to power the site, InstaVolt firm's CEO said the development would provide "industry-leading reliability at an unprecedented scale, ensuring drivers can charge quickly and with confidence". Delvin Lane said the new station wasn't "just a charging hub", but was also a "flagship site that sets a new standard for ultra-rapid EV charging"."We are redefining what EV drivers can expect when they charge, seamless, ultra-rapid, and future-proofed charging that makes the switch to electric easier, faster, and more accessible than ever before," he reported that at the end of February there were more than 75,000 electric vehicle charging points across the UK, at 38,000 charging plugging into a charging hub can still cost significantly more per kilowatt hour than charging overnight at home, according to the AA. The Basingstoke-based company said the new site was designed to "accommodate a wide variety of vehicles", featuring accessible bays as well as those for larger also features 870 solar panels, alongside batteries designed to store the power generated."This site is also a milestone in innovation, marking our first-ever location where we are generating our own renewable energy - pushing the boundaries of sustainability and self-sufficiency in EV charging," Mr Lane added.A Starbucks cafe, children's play park and dog walking area are all featured at the new development, alongside 24/7 toilet facilities. You can follow BBC Hampshire & Isle of Wight on Facebook, X, or Instagram.
BBC News
10-03-2025
- Automotive
- BBC News
A third of drivers feel unsafe on smart motorways
The smart-motorway on the M4 in Berkshire "doesn't feel safe" -according to one-in-three drivers surveyed by the Basingstoke-based breakdown company's new survey of more than 13,500 drivers suggested a third of recipients felt "unsafe" on these types of smart-motorways the hard shoulder is another driving lane, and emergency areas are placed individually across the Highways said that the data shows that smart motorways are the safest roads in the country. A smart motorway is a section of motorway that uses technology to manage traffic flow, and reduce first smart motorway was trialled on the M42 in 2006, with the opening of the hard shoulder to traffic at times of peak congestion. Motoring journalist Maria McCarthy said: "I think a lot of people have felt very sceptical and anti-smart motorways since they were introduced and since then there has been lots of concerns and deaths that could have been preventable. "National Highways latest figures suggest that if you breakdown on a smart motorway without a hard shoulder that you are three times more likely to be killed or seriously injured."National Highways said many more new emergency areas are being installed, and statistically smart-motorways are the safest kind of McCarthy said: "I think traditionally we have always had a hard shoulder and it's been there for a reason."If you are in any sort of difficulty, if you run out of fuel, always pull over to the hard shoulder and I think that gives people a sense of comfort."Ms McCarthy explained "the technology doesn't always work, there is a thing called stopped vehicle detection which is meant to work out if somebody is in difficulties."That is then conveyed to the control room and it takes another three minutes for the big red cross sign to be switched on." In 2022, Pulvinder Dhillon, a 68-year-old grandmother, was killed after her car broke down on the M4 westbound near Theale, in lane Dhillon's story was covered in a look into smart-motorways by the BBC's Panorama team spoke with families who said they were let down by the technology that was meant to save their loved ones. You can follow BBC Berkshire on Facebook, X (Twitter), or Instagram.
Yahoo
09-02-2025
- Business
- Yahoo
Charity partnership extended after record-breaking year
A charity partnership has been extended after raising a record amount of money last year. Miller Homes Southern, a housebuilder with a development in Didcot, has pledged to continue its support for hospice Naomi House & Jacksplace throughout 2025. The Basingstoke-based company raised more than £33,000 for the charity last year through various activities, including a golf day, raffles, quiz nights, and a month-long walking fundraiser. The funds raised in 2024 marked a record-setting year for the housebuilder's charity efforts. Miller Homes' The Oaks at Hadden development in Didcot (Image: Miller Homes) Ella Clayton, senior fundraiser at Naomi House, said: "It has been a huge pleasure to work with the Miller Homes Southern team over the last year to create a corporate partnership to be very proud of. "The team's inspirational fundraising and support for us has been phenomenal and we are so thrilled to have them by our side once again in 2025." Naomi House, located in Sutton Scotney, Hampshire, provides care to children, young adults, and their families across central southern England. Its delivers respite and end-of-life care, bereavement support, emergency respite, and family support. With only 10 per cent of its funding coming from statutory sources, the rest has to be fundraised. Ms Clayton added: "The support that Miller Homes Southern have given us will help us fill that shortfall and help us to continue to provide vital and unique care to local children, young adults, and their families. "Thank you so much to the brilliant team and we're looking forward to a fantastic year of support in 2025." Miller Homes staff will also volunteer at Naomi House for several days this year. David Brown, managing director of Miller Homes Southern, said: "Since showing our support to Naomi House & Jacksplace at the start of 2024, our team have been really engaged with the charity campaign created to raise what turned out to be record-setting numbers for us last year. "We proudly raised more than £33,000 for the hospice in 2024, and we'd love to be able to achieve similar figures again this year, as we extend our commitment to the team at Naomi House for another year. "So inspired by their story, our staff have also put themselves forward to take part in voluntary opportunities at the hospice this year, further cementing our partnership with Naomi House and looking to help make a difference to them however and whenever we can." The hospice runs its own charity events throughout the year to raise some of the money it requires to deliver care to the people who need its most.
