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Sushi chain Wasabi fishes for new funding

The Japanese food chain Wasabi is in talks to sell a stake for the first time in its 16-year history.

New funding will act as a vital growth engine for the sushi and bento seller’s parent company, which manages the outlets along with a handful of Kimchee outlets and an Asian-inspired bakery in Cambridge.

The investment comes amid questions over Wasabi’s finances. Companies House recently issued a notice to strike the company off the register after it missed last year’s deadline to file its accounts.

Read more – www.telegraph.co.uk

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Project Neptune News

Client

Large UK Company seeking to acquire in the SME Sector

Aim

To add to its comprehensive portfolio by purchasing 100% shareholding of qualifying business’s in the SME sector.

Sector

Client has ‘sector agnostic’ approach and will review each opportunity on its merits. Previous sectors have included Engineering, Manufacturing, Medical, Travel & Leisure, Tech Software Solutions, Construction, Facilities Management, Packaging & Print, Recycling, Medical and Energy.

Budget

Current budget for next round of targeted acquisitions stands at £53.4 Million UK pounds.

Timescale

All targets to be ready for Phase 1 Project sign off by end of September 22nd 2018.

Qualifying Crietria

Previous evidence of stable performance.

Must be capable of 3+ x growth factor.

Acquiring Client can create infrastructure for this, whether by back office, sales, increased staffing levels, funding large projects or frameworks and injection of cash funds.

Directors/Owners Must agree to qualifying handover period.

Deal profile

80% of total remuneration on completion. Remaining balance paid over 12 Months in quarterly payments in arrears.

Further details and scoring criteria available from Mark Roberts – mark@achieve-corporation.com

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Government Steered By Electric Trucks

The government yesterday released an additional £4m of funding support for electric trucks in an attempt to bolster efforts to green the country’s haulage fleet.

Businesses purchasing electric trucks above 3.5 tonnes will now be eligible for grants of up to £20,000, thanks to extra funding made available through the Plug-In Van grant scheme.

The Plug-In Van grant scheme was established in 2012 to help firms switch their commercial cars and vans to electric alternatives.

But adoption rates have been slower than hoped, despite evidence that electric vans help to cut corporate fleet running costs. The government is now keen to accelerate the rollout of commercial electric vehicles (EVs), as most commercial vehicles are diesel powered and are therefore a major contributor to poor air quality in city centres.

“The electric car revolution is well under way with consumers and this funding will encourage more businesses to consider switching to cleaner vans and trucks,” business and energy secretary Greg Clark said in a statement. “Our automotive sector is thriving, with the world’s most popular electric car already made in the UK and we are forging ahead to deploy new engine technology to make low-carbon vehicles mainstream, and leading the way in driverless car technology.”

 The Plug-In Van grant will be available for vans weighing between 3.5 and 12 tonnes, alongside existing grants for smaller commercial EVs.

The government said the extension will be “reviewed” once 5,000 grants have been processed, or in March 2018, whichever is earlier.

The government is under increasing pressure to clean up the air in the UK’s towns and cities. Last week the Department for Environment, Food and Rural Affairs (Defra) was back in court with ClientEarth as part of the environmental law firm’s long-running legal battle over the legality of the government’s plan to improve air quality.

Meanwhile, pressure is growing from the government’s own backbenchers. Official statistics obtained by Conservative MP for Tiverton and Honiton Neil Parish revealed last week that 40 per cent of UK local authorities breached legal limits on air quality last year.

The government figures show 169 out of 418 local authorities were in breach of annual nitrogen dioxide limits in 2015. Nitrogen dioxide pollution is linked to lung disease and cardiovascular problems such as heart attacks and strokes.

“These are shocking statistics,” Parish said in a statement. “When we think of areas breaking air quality laws, we usually think of a handful of areas in our busiest towns and cities. These figures show just how widespread the problem is across the UK. It requires a comprehensive solution – urgently.”

http://www.businessgreen.com/2475014