News in brief: Deloitte to finalise LGC sale.
Deloitte & Touche is in the advanced stages of completing the sale of LGC, Europe's biggest privately owned forensic sciences group.
LGC, owned by venture capital firm 3i and the company’s management, was acquired for £5m on privatisation in 1996. Legal & General Ventures, Barclays Private Equity and HgCapital have each made bids of up to £80m.
Cowgill Holloway, a Bolton-based chartered accountant, has finalised a £1.4m investment package to secure the future of Preston-based auto parts manufacturer Leyland Auto and Electrical Diesel. KPMG corporate recovery acted as administrator for the firm. Manchester’s City invoice finance is acting as lead investor for the buy-in.
The corporate finance faculty of the ICAEW is celebrating after Nicholas Marsham, of Lovewell Blake Chartered Accountants, became the faculty’s 5,000th member. More than 70 financiers have joined over the past month following a successful mid-year campaign.