East Midlands Cyber Resilience Centre teams up with Derbyshire Constabulary to deliver free cyber security guidance to local businesses
Frasers Group acquires strategic stake in online electricals retailer AO
Shirebrook-based retail giant Frasers Group has acquired a strategic stake of 18.9% in online electricals retailer AO World Plc.
Frasers Group has purchased 109,400,000 issued shares at a price of 68p totalling an investment of £75m. The investment is said to be the culmination of productive talks over the last two years about establishing a strategic partnership.
Michael Murray, CEO of Frasers Group, said: “Frasers has long admired what John and the AO team have built, and we are delighted to have the opportunity to form a supportive, strategic partnership. AO is a fantastic business with a clear strategy which is leading the market in online-only electricals.
“Through this investment, Frasers will benefit from AO’s valuable know-how in electricals and two-man delivery, helping us to drive growth in our bulk equipment and homeware ranges. In turn, AO will have the opportunity to benefit from Frasers’ expertise and ecosystem.”
John Roberts, founder and CEO of AO, said: “This is great news for AO and a fantastic endorsement for our business. We are delighted to welcome Michael and the wider Frasers team into the AO family and look forward to realising the significant potential that we see for this partnership.
“As we continue to build on our strategy of pivoting to profitable growth, it will be hugely exciting to have a range of compelling strategic opportunities to explore together and we’re very much looking forward to working with Michael and his team.”
Softer rise in East Midlands output, but new order growth sustained in May
East Midlands Chamber urges businesses to adopt new thinking in recruiting and retaining people amid skills gaps
Plans to activate Broad Marsh streets take a step forward
Contract awarded to construct 190,000 sq ft speculative warehouse in Nottingham
Chesterfield mortgage brokerage acquires counterpart
Lincolnshire-based insurance brokers become latest EMCRC Community Ambassador
Founded in 1964, the Thompson and Richardson Group are Lincolnshire’s leading insurance broker. Their size enables them to negotiate excellent terms from the insurance market and gives them significant access to the London Market, which is vital to offering the complete insurance package.
The Thompson & Richardson Group provide a professional insurance broking service to corporate, commercial and personal clients.
They will become the latest Community Ambassador to join the Centre, and as a Top 50 Insurance Broker, they will help highlight the importance of cyber insurance, something that many businesses overlook but which should be a vital aspect of their cyber security framework.
In addition, their affiliation with the EMCRC will grant members access to a cyber insurance specialist to coincide with the offerings of existing Community Ambassadors who provide resilience services in IT, retail and education.
Community Ambassadors are local companies who understand the importance of cyber resilience and who want to spread that message as wide as they can.
They do vital work, supporting the EMCRC’s message through raising awareness of its aims and objectives and directing their customers, business communities and supply chains to take advantage of the EMCRC’s free membership and affordable services.
DI Colin Ellis, MD and Police Lead at the EMCRC, said: “I’m really pleased that T&R have joined us as one our community ambassadors. As well as offering a range of useful insurance experience, they will also offer our members expertise around cyber insurance which is critical to cyber resilience.
“T&R recognise the important work that the EMCRC have set out to achieve and they were keen to come on board – which is really pleasing.”Thompson & Richardson are another great addition to the EMCRC’s Community Ambassador group, and it shows the EMCRC’s ambition as a Centre that it wishes to partner with outstanding businesses and organisations.
But the EMCRC’s ambition doesn’t end there. It is seeking the support of other distinguished businesses and motivational business leaders by joining not just as Community Ambassadors, but as Community Members, Friends of the Centre or Board members. EMCRC now has the scope for businesses to join on various levels of affiliation.
If you would like to support the EMCRC’s work and join its community, or feel you can bring equal skill, vision and ingenuity to the Centre in other areas, then please contact the EMCRC via its website or contact Colin Ellis via his LinkedIn account.