Business briefs: Wood Group | Caledonia Contracts | Terrace Hill

WOOD Group has sold its US-based aero-engine maintenance provider to CPR Aerospace, it was announced yesterday.

The Aberdeen-based energy services heavyweight said Wood Group Turbopower had been reported as “discontinuing” for several years. The gross assets of the business being sold were $18.7 million (£12m), it added. However, no value was put on the deal. Shares in Wood Group closed up 8.5p at 721.5p

Caledonia fits into Starbucks gameplan

Starbucks Coffee Company has appointed Dundee-based interior fit-out contractor Caledonia Contracts to refit two central London stores ahead of this summer’s Olympic Games. Starbucks wants its stores to have more individual character.

Caledonia has enjoyed an eight-year partnership with the Seattle-based company. Operations director Stuart McNally said the latest deal was “fantastic news”.

£25m store deal for Terrace Hill

Listed property firm Terrace Hill Group announced a £25 million forward funding deal for a supermarket in Sunderland that is pre-let to Sainsbury’s on a 25 year lease.

Osprey Supermarket Income and Growth 1 LP, a private investor fund arranged by London-based Osprey Equity Partners, put up £15m of equity on behalf of UK high net worth individuals while HSBC provided £20m of debt. Terrace Hill made £2.5m on the deal.