Buy-outs, buy-ins and sell-offs
Our weekly free round up of key deals and major moves in the Rainmakers world
Hello Rainmakers
Welcome to your weekly round up of deals from around the country.
BP is marketing its North Sea business for a potential sale.
But first a reminder, This is free to all who have signed up, however Rainmakers subscribers get at least two unique pieces a week, one in the summer, and also full access to our back catalogue of investigations, scoops, and insights, including updates from The Secret Investor, interviews with entrepreneurs, and the leaders from VC and PE investors like Endless, Foresight, Mercia, and LDC.
BP’s decision forms part of an ongoing portfolio review and reflects its “disciplined approach to capital allocation”, in service of creating a “simpler, stronger and more valuable company”.
The portfolio comprises five production hubs - two in the central North Sea and three west of Shetland - employing approximately 1,100 people.
“The North Sea remains integral to the UK’s energy system,” stated chief executive Meg O’Neill. “However, as we focus our portfolio and direct capital to our highest-value opportunities, we believe our North Sea business will be better positioned as part of another company.”
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Who doesn’t love a management buy-in?
International private equity real estate fund, DBL Capital has completed a management buy-in (MBI) of Stockport-based online homeware retailer Home Space Direct.
The deal includes a six-figure investment from NPIF II-FW Capital Debt Finance, which is managed by FW Capital as part of The Northern Powerhouse Investment Fund II (NPIF II).
The transaction was also supported by additional funding from LGC Industries to invest in and grow the online e-commerce part of the Home Space Direct business.
The NPIF II-FW Capital funding has also provided working capital to support the business as it enters its next phase of growth.
This includes streamlining the company’s supply chain and digital infrastructure from its Stockport base, alongside expanding its product offering, including its core homeware portfolio of bedding, curtains and soft furnishings.
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FirstGroup has agreed the sale of Mistral Data Services to Tracsis for £48m.
The wholly-owned subsidiary was established to develop software solutions integrate data – including customer-facing websites and apps – from multiple train operating companies and control centres.
Revenues have grown from around £7m in 2022 to circa £13m in 2026, with operating profit of about £4m.
“The sale proceeds will further strengthen our balance sheet, supporting continued growth in attractive UK bus and rail markets and meaningful returns to our shareholders,” said chief executive Graham Sutherland.
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Swedish bathroom giant FM Mattsson has turned on the taps with the acquisition of Tamworth-based Bristan Group, the UK’s biggest brassware supplier.
Bristan, which generated £63m in revenue over the past year and employs around 280 people, supplies taps and showers to installers, specifiers, wholesalers and retailers across the UK.
The deal gives FM Mattsson’s UK and Ireland business a fresh flush, adding Bristan to its existing Aqualla brand and strengthening its foothold in one of Europe’s biggest bathroom and kitchen mixer markets.
Chief executive Fredrik Skarp said Bristan’s market-leading position bolsters the group’s international ambitions, while Bristan will continue to flow as a standalone, brand-led business under its existing management team.
DSW partner Harry Walker led the advisory team, supported by associate director Daniel Choucino, with legal advice from TLT LLP, tax support from Claritas, commercial due diligence by CIL, W&I insurance broking from Virtus Insurance Solutions and debt financing from Nordea. Masco Corporation was advised by Lincoln International on the sale, with Deloitte providing vendor financial due diligence.
Walker said it was a privilege to help bring together the leading brassware suppliers in the Nordics and the UK, adding that the cultural and commercial fit was clear from the outset.
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Tavistock Investments has acquired an 87.9% stake in Plus Group of Companies, a provider of AI agent technology and paraplanning services to financial advisory firms.
The initial consideration is £900,000 in cash, with a further £3.6m payable in cash over the next 18 months. Additional deferred consideration of up to £11.5m in cash may become payable over four years, subject to agreed performance criteria.
Plus Group recorded turnover of just under £1m and profit before interest, tax, depreciation and amortisation of around £340,000 in the year to 30 September 2025.
Based in Liverpool Plus supports financial advisers behind the scenes providing practical support across paraplanning, admin, client servicing, LOA chasing, and cashflow modelling.
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Derbyshire’s Dri-Pak is cleaning up after securing a sparkling £1.843m funding package from HSBC UK to scrub up production across its Nottingham and Manchester sites.
The investment will bankroll a new 100,000 sq ft Nottingham packing facility, complete with automated packing lines, new machinery and equipment for manufacturing its salt-based cleaning products.
Leasehold improvements and the installation of eight new bulk storage tanks are also in the mix, helping the business double production capacity while polishing up supply chain flexibility.
Meanwhile, Dri-Pak’s historic Manchester site - where Soda Crystals have been made since 1823 – is getting a fresh coat of automation, with new production lines and packaging equipment set to boost output by around 15% and wipe away capacity constraints.
The upgrades will also help the company achieve British Retail Consortium (BRC) accreditation, strengthening ties with major supermarket retailers.
Demand continues to bubble up for Dri-Pak’s naturally derived staples, including Soda Crystals, White Vinegar and Bicarbonate of Soda, as consumers swap specialist cleaners for simpler household heroes.
Group managing director Robert Fenton said the HSBC UK backing marks a major milestone, enabling Dri-Pak to expand production, strengthen UK manufacturing, meet growing demand and build on more than 200 years of heritage while continuing to innovate.
HSBC UK relationship manager Daniel Williams said consumers increasingly value products that are simple, versatile and built to last, adding that the bank is proud to support Dri-Pak’s continued growth.
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Security and surveillance technology business, Synectics, has secured a $2.4m/£1.8m contract to provide its Synergy security and surveillance platform for a major casino on the US West Coast.
The Sheffield-based business said this represents a significant new customer win in the strategically important North American gaming market.
Synergy will provide the casino with a single, unified solution to manage its security and surveillance operations.
The platform will provide enhanced situational awareness, enabling security teams to identify potential threats earlier, respond more quickly and consistently to incidents, and make better-informed operational decisions.
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Having now completed the Rainmaker events in the West Midlands, North West and Yorkshire, we have also now announced dates and an opening for entries for the East Midlands event on the 5th of November in Nottingham and the South West event on the 26th of November in Bristol.
Last year the events sold out, so book early to secure your table.
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