Scottish business wire: Pick Protection | BAT | Heathrow

Furniture and fashion brand Laura Ashley is to close its concessions within Homebase stores next year following the chain's takeover by Australian conglomerate Wesfarmers. Picture: Contributed

Furniture and fashion brand Laura Ashley is to close its concessions within Homebase stores next year following the chain's takeover by Australian conglomerate Wesfarmers. Picture: Contributed

18
Have your say

The main breaking business stories of the day plus recent investments and grants achieved by Scottish firms.

This feature is brought to you by The Scotsman and Young Company Finance.

Rebecca Pick with her Personal Guardian attack alarm, set to launch next year. Picture: Contributed

Rebecca Pick with her Personal Guardian attack alarm, set to launch next year. Picture: Contributed

Glasgow safety alarm start-up secures £744,000 funding

A Glasgow-based start-up that has developed a personal attack alarm has raised £744,000 to help bring the product to market. Pick Protection is the brainchild of University of Strathclyde graduate Rebecca Pick, who developed the idea for the Personal Guardian device following an attack on a neighbour. Having raised £60,000 from an angle investment syndicate last year, the firm has now secured £744,000 in a funding round led by Equity Gap, with other backers including the University of Strathclyde, Gabriel Investment Syndicate, the Scottish Investment Bank and manufacturer Unipart Group.

Tobacco giant BAT eyes £38bn merger with Camel owner

British American Tobacco (BAT) has proposed a $47 billion (£38bn) merger with US tobacco firm Reynolds, the maker of Camel and Pall Mall. If it goes ahead, the deal would create the world’s largest listed tobacco company. BAT currently owns 42.2 per cent of Reynolds and the proposal involves the acquisition of the remaining 57.8 per cent of the company.

Heathrow boss insists airport has support for expansion

Heathrow Airport’s chief executive has said there remains support “from Newquay to Inverness” for the government to rule in favour of the airport’s expansion over rival Gatwick. John Holland‑Kaye also said Theresa May was “showing leadership”, despite the Prime Minister being accused of dithering over the decision on a third runway. “There’s no policy reason at all stopping us from getting on with Heathrow,” he added.

Martin Flanagan: Humiliation for BHS ‘spiv’ Philip Green

“It doesn’t get much heavier and more humiliating than a unanimous recommendation of MPs that the Honours Forfeiture Committee strip Sir Philip Green of his knighthood,” writes Martin Flanagan. “The language yesterday, protected by parliamentary privilege, was ripe. ‘Billionaire spiv’, ‘personal fiefdoms’, ‘traditional asset stripper’ and ‘one of the biggest corporate scandals of modern times’ give a flavour of it.”

Click here to ‘Like’ The Scotsman Business on Facebook

For anyone interested in following the progress of early stage companies in Scotland, and in particular how they fund their development, the monthly newsletter published by Young Company Finance (www.ycfscotland.co.uk) is an essential resource. As the only publication devoted exclusively to this sector, YCF gives reports of all significant investment deals, and news and comment on the young company market generally. For further details and to register for a subscription, email sales@ycf.co.uk

RECENT INVESTMENTS

Company: Pick Protection, Glasgow

Industry: Attack alarms

Amount of investment: £744,000

Investors: Equity Gap, University of Strathclyde, Gabriel Investment Syndicate, Scottish Investment Bank and Unipart

Company: Traveltek, East Kilbride

Industry: Travel software

Amount of investment: £5,300,000

Investors: YFM Equity Partners

Company: snap40, Edinburgh

Industry: Healthcare technology

Amount of investment: £2,000,000

Investors: Par Equity and private investors

Company: Swipii, Glasgow

Industry: Customer loyalty

Amount of investment: £2,000,000

Investors: Undisclosed

Company: Ateeda, Edinburgh

Industry: Microchip testing

Amount of investment: £630,000

Investors: Management, Archangels and Scottish Investment Bank

Company: Encompass, Glasgow

Industry: Software

Amount of investment: £3,600,000

Investors: Scottish Investment Bank and Adcock

RECENT GRANTS

Company: Collagen Solutions, Glasgow

Industry: Life sciences

Grant awarded: €500,000 (£450,000)

Type of grant: EU Horizon 2020

Company: Omega Diagnostics, Alva

Industry: Life sciences

Grant awarded: £1,800,000

Type of grant: Scottish Enterprise R&D

Company: Stream Technologies, Glasgow

Industry: Internet of things

Grant awarded: £200,000

Type of grant: Scottish Enterprise RSA

Back to the top of the page