NEWS
WINTER 14
>> Expanding in healthcare Craneware – with its focus firmly on the US healthcare market – has completed two equity transactions giving the firm good prospects for 2015, shareholders at Tanfield, in Edinburgh were told. Keith Neilson, chief executive of the company, said: “The first transaction is the share ‘buy-back’ and the second is the acquisition of the emerging technology company, Kestros Limited. “Kestros provides a platform in the high growth Patient Access market, as the company addresses the growing level of consumerisation within healthcare.”
>> ECS appoints new MD >> Cluff finds more coal Cluff Natural Resources, the AIM quoted company, owned by entrepreneur Algy Cluff, interviewed in BQ Scotland, has discovered an estimated 335 million tonnes of coal under the Firth of Forth. The company had measured and indicated 247 million tonnes within its 100% owned Kincardine Licence in the Firth of Forth, Scotland. This initial resource estimate is a key step towards building the UK’s first deep offshore Underground Coal Gasification demonstration project. Two coal seams alone identified 43 million tonnes of coal in place – meeting CNR’s key coal quality criteria for a fully commercial UCG project. This contains 1,471.5 petajoules of energy which is equivalent to approximately 1,395 billion cubic feet of natural gas-in-place on an energy equivalent basis. Chairman and chief executive Algy Cluff said: “This report supports the company’s UCG licence selection and forms the basis for future investment in Scotland while proving the performance of the deep UCG process in a UK context. The development of UCG at the Kincardine Licence Area would result in the creation of new jobs, help protect existing industry as well as create significant supply chain benefits. “
BUSINESS QUARTER | WINTER 14
One of Scotland’s fastest growing IT consultancy and services providers, ECS – placed 15th in the Sunday Times Tech Track 100 – has appointed Charles Quinn as group managing director. Quinn, an IT industry veteran in executive leadership, sales, marketing and IT services gained with the likes of HP, Dell and Microsoft, is spearheading ECS’s next phase of growth. His appointment comes as ECS predicts over 45% growth for 2014 with anticipated revenues of over £80m.
>> Apex hits new heights Edinburgh-based Apex Hotels has turned in another strong performance with turnover up to £56m – while it confirms plans for 2015. Turnover grew to £56million, an increase of 11%. In the London market, the group benefited from an upturn in market conditions following the 2012 Olympic Games and experienced strong growth in occupancy and rate, with an increase in RevPAR of over 9%. Profit to 30 April 2014 of £9.6m represents an increase of 37%. New acquisitions include a site in Bath with planning permission for a 177-room luxury hotel and a purchase agreement for an existing Glasgow Hotel.
>> Strength in numbers One of the largest independent accountancy firms in Scotland will be headquartered in Dundee after the merger of two practices. Dundee-based EQ Accountants
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LLP, which celebrated its 10th anniversary, will join forces with Carters, who are based in Glenrothes, with effect from 1 April 2015. With offices in Dundee, Forfar, Glenrothes and Cupar, the new firm will have over 100 staff, including 16 partners. No redundancies will be made as a result of the merger.
>> City Deal’s a good deal The construction industry will be the biggest winner in the massive £1.1bn City Deal for Glasgow, says Stuart Patrick, the chief executive of Glasgow Chamber of Commerce. “A lot of the City Deal projects will be infrastructure projects,” he said speaking at a BQ Live Debate.“There are one or two elements of City Deal that have a more ranging aim, particularly around life science and centres of excellence around South Glasgow hospital, but the construction industry will be the benefactor.” He says that £1bn will be for infrastructure projects, and there is scope for the regional authorities to go down the route of helping local business if it is in the parameters of the agreement with the UK Treasury and the Scottish Government. “This is one of the gains we got out of the referendum. We wouldn’t have had a City Deal without the referendum because the Treasury would never have taken an interest in it, and the Scottish Government would never have matched the money were it not for the vote.” He said it was an interesting start for Glasgow Chamber in trying to get a wider range of organisations involved in the distribution of the public money. Read BQ’s Live Debate on Page 36.
We wouldn’t have had a City Deal without the referendum