Business news in brief 03/04/2012

Published on 03/04/2012 00:00

A roundup of the latest business stories

Denny to succeed Reed at Maclay

Maclay Group, the Glasgow-based pub operator, yesterday named director Michael Denny as its next chairman.

Denny, a former executive chairman of NVM Private Equity, replaces Gavin Reed, who retires after holding the position since 2001. Maclay also posted a 2 per cent fall in sales for the year to 30 September to £10.5 million and a 20 per cent drop in profits to £746,000 following poor weather.

US firm clear to buy Misys after pull–out

Hopes of a bidding war for software group Misys ended yesterday when a private equity consortium pulled out of the race to buy the firm.

The withdrawal by CVC Capital Partners and ValueAct – the company’s biggest shareholder – clears the path for a £1.3 billion takeover by US firm Vista Equity Partners, which last month secured the backing of the Misys board.

Johnston Carmichael unveils shake–up

Accountancy firm Johnston Carmichael has unveiled a string of appointments for its new Stirling operation.

Director Peter Innes, who joined the practice in 2004, will relocate from the firm’s Elgin office to take on day-to-day responsibility for Stirling. He will be supported by Robin Dandie, partner and head of agriculture for the firm, and tax specialist James Stewart.

Rock Solid hits out at Thalassa offer

OIL survey group Rock Solid Images, which was founded in Aberdeen but is now based in Texas, yesterday voiced concerns over an offer from Thalassa Holdings to acquire just over 25 per cent of the company.

Rock Solid said Thalassa has provided “no evidence that they will bring any added economic or industrial assistance to the business in the next phase of the company’s development”.

Plexus hails US licence ‘milestone’

Plexus Holdings, the Aberdeen-based oil and gas engineering services business, yesterday said the American Petroleum Institute (API) trade association had awarded the company two licences under its quality standards programme.

Chief executive Ben van Bilderbeek said the move was an important milestone that would enable it to bid for contracts where compliance with API standards was required.