Loughborough tech start-up secures £200k investment

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Loughborough tech start-up secures £200k investment

A final-year undergraduate student at Loughborough University has secured a £200k investment for his start-up company, BidScript, a business co-founded with his childhood friend.

BidScript is a software business, focused on transforming organisations’ proposal management and work-winning functions. Their software application provides intelligent workflows and intuitive automations, offering not only productivity and cost-saving benefits but also tools to enhance the quality of user submissions.  The tech start-up secured a £200k investment after taking part in PraeSeed by Praetura Ventures, a six-week cohort-based investment programme for early-stage businesses, supported by Northern Powerhouse Investment Fund (NPIF II) and British Business Bank.  Henry Brogan, currently studying Business, Economics and Finance at Loughborough University, co-founded the company in October 2023 with his childhood friend, Tyler McCarthy.  Henry said: “My co-founder Tyler and I have known each other since we were 12 years old. We went to the same high school, did the same GCSEs, went to the same college, and did the same A-levels. He is now at Manchester Metropolitan University, studying computer science and excelling as a software engineer. “In October 2023, after half a year of consultancy work (knowing that businesses were struggling with their data management and we were on the brink of technological evolution), Tyler and I came across the bid/proposal management function and soon realise that it was causing trouble for organisations of all sizes, especially in the middle market. “We jumped in with both feet and didn’t look back. I still remember incorporating the business from my Butler Court dorm room, where I did a lot of my preliminary work, before receiving support from LUinc.”   LUinc. is a part of the Loughborough Enterprise Network (LEN), which brings together support for entrepreneurial students across the University, enabling founders to develop skills, test ideas and setup and scale businesses.  Today, BidScript’s software is being used across three continents by organisations of varying sizes, operating in a variety of sectors.   Following the PraeSeed programme, BidScript plans to use the funding to secure a number of commercial agreements with businesses in its pipeline that are keen to tackle the resource-intensive tendering process using BidScript’s innovative technology.  BidScript is also a part of the Microsoft Founders Hub where they unlocked a sponsorship of $25,000 in Microsoft Azure credits with the potential for upwards of $150,000. Additionally, they recently exhibited and spoke at the 2024 WebSummit in Lisbon, funded by the LEN Start-up Fund.  Henry shared some advice for aspiring entrepreneurs: “Validate your idea, you may be solving a problem, but will someone pay for it? And how much? “They’re the tellers of whether you’re onto something – unless you’re creating your own market like Uber, or AirBnB. Talk to your customers, validate your idea, get your product in their hands, collect feedback, and iterate. Move fast.  “Niche down and then scale up. Master a vertical and then go horizontally. The reality of start-up life is that it’s not easy or glamorous, you have to live and breathe your work. “However, it is one of the most rewarding, enjoyable, and insightful jobs you can do. If you can become creative and disciplined in a domain of your interest, there are a breadth of opportunities and problems to tackle.”

Visitors spend £10m at Nottingham’s historic Goose Fair

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Visitors spend £10m at Nottingham’s historic Goose Fair
Nottingham City Council has revealed that visitors spent an estimated £10m at Nottingham’s historic Goose Fair in autumn 2024. The ten-day event was held at the Forest Recreation Ground from Friday 27 September to Sunday 6 October last year. Despite the tram strike on the first day of the fair, and torrential rain mid-week, Goose Fair welcomed 493,200 visitors across the ten days. Saturday 5 October was the busiest day, with fine weather attracting 110,442 people to the event. On average each person spent approximately £20 during their visit. In a post-event visitor survey, attendees were asked about their spending at the fair. It is estimated that £1.2m was spent on transport, £2.9m on food and drink, and £5.9m on rides and attractions. This generated a significant economic uplift for the city, bringing more local and regional visitors to the area and increasing transport usage across Nottingham. Data shows that 72% of attendees were from Nottinghamshire, and 28% were visitors from the rest of the East Midlands and further afield. Since 2022 Goose Fair has been held over ten days. Approximately 100,000 more visitors have attended the fair each year since the last five-day event in 2019. Discussions are continuing between the Council and the Showmen’s Guild for a decision on the 2025 event. Cllr Sam Lux, Executive Member for Carbon Reduction, Leisure and Culture at Nottingham City Council, said: “Goose Fair’s visitor spend not only highlights its status as a major regional event but also brings a substantial economic uplift to the city. “With its extended ten-day duration, the fair allows us to welcome even more visitors, driving growth in tourism, local businesses, and the wider economy. We are looking forward to working with the Showmen’s Guild again for another successful event in 2025.” William Percival, Chair of the Showmen’s Guild (Nottinghamshire & Derbyshire branch), said: “The Showmen’s Guild and the Council is in agreement that last year’s Goose Fair was a success once again. A ten-day fair is more viable as four days were affected due to rain, and the first day was restricted by the tram strike. “The work we’re doing with the Council will improve the famous fair for everyone – the public, the Council, and the showmen.”

Nottingham workflow automation specialist expands into India

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Nottingham workflow automation specialist expands into India
Workflow automation specialist Intoware has continued its global expansion by securing a partner for the Indian market. The Nottingham-based company has joined forces with State Technologies to drive sales of Intoware’s flagship digital workflow platform, WorkfloPlus, across India. Launched in 2015, WorkfloPlus is a connected worker platform that enables businesses to digitalise tasks and assessments across industrial operations, converting them from paper to be accessible via mobile, wearable technology, and desktop devices. Headquartered in New Delhi, State Technologies is a privately owned company providing IT consultancy, professional services and hardware deployment and maintenance to field engineers including local and central government, financial services, telecommunications and health care. Keith Tilley, CEO of Intoware, said: “This marks our first foray into India, and we are excited to be teaming with State Technologies, a company with an excellent reputation and in-depth knowledge of the market. “Last year we expanded further into the Asia-Pacific market with a new Singapore-based partner and the deal with State Technologies is a natural progression of our plans for global expansion as we look to deliver digital transformation services to new customers and industries.” Savinder Pal Singh, Director at State Technologies, said: “We are proud to partner with Intoware and to have the opportunity to use our expertise to help bring WorkfloPlus to the Indian market. “We are excited to work with the team at Intoware and are confident that customers will quickly see the wide range of benefits that WorkfloPlus can deliver across a variety of sectors, from streamlining operations to facilitating digital transformation.”

Vice-Chancellor and President of Nottingham Trent University to step down

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Vice-Chancellor and President of Nottingham Trent University to step down
After 11 years as Vice-Chancellor and President, Professor Edward Peck CBE, is to leave Nottingham Trent University in summer 2025. Professor Edward Peck, Vice-Chancellor and President, said: “I am very proud of all we have achieved together over the last ten years at NTU. How we have worked with regional partners, influenced national policy, supported our students to prosper and delivered great impact with our research. “We have doubled our student numbers whilst remaining focused on exceptional student experience and support. “However, when considering leadership transitions, one must consider the best interests of the institution as well as the individual and as we head into our next strategic cycle of 2026-2031 it is the right time to hand this role to a new leader.” Caroline Wayman, Chair of NTU’s Board of Governors, said: “Following Edward’s announcement, I’d like to put on record my huge appreciation for his contribution to the development of NTU and the wider sector. Since he arrived in 2014, NTU has been transformed. “Not only has NTU experienced considerable growth during Edward’s tenure, the outstanding quality of our teaching has been acknowledged twice in the TEF, and our world leading research performance recognised in subsequent REF outcomes. “We have been awarded the accolade of University of the Year five times and have made a huge impact on the lives of our students and the communities we serve. “Fundamentally, the culture and values of NTU are something we are all immensely proud of and Edward has truly instilled this. His leadership has been such a big part of us all being so proud to be NTU and he leaves an outstanding legacy.” Recruitment for a successor will formally commence in February 2025.

Construction commences at £22m Milford Mills scheme in north Derbyshire

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Construction commences at £22m Milford Mills scheme in north Derbyshire
Wavensmere Homes has commenced construction to redevelop Milford Mills, which overlooks the River Derwent, located between Belper and Duffield in north Derbyshire. The £22m development will comprise 69 new homes to be delivered on the historic brownfield site, which is within the Derwent Valley Mills UNESCO World Heritage Site. Accessed off Derby Road (A6) in the centre of Milford village, the redevelopment of former commercial premises will feature 42 two- and three-bedroom houses and 27 one- and two-bedroom apartments, within a four-storey building overlooking the River Derwent and Mill Lade. Ground and site enabling works across the 4.7-acre site are underway, with the first phase of construction to incorporate 10, two- and three-bedroom houses, which will be ready to move into during autumn 2026, constructed from locally quarried stone and natural slate. A second phase of 15 three-bedroom houses will be completed before the end of 2026. The handover of the waterside apartment building and the full redevelopment, restoration and construction programme is scheduled to conclude by mid-2027. James Dickens, Managing Director of Wavensmere Homes, said: “Locals have been waiting for many years to see this unique and prominent site – in the centre of one of North Derbyshire’s most well-regarded villages – get the green light for redevelopment. “Milford’s beautiful rural setting, community spirit, and easy access to Derby and the Peak District, makes it very desirable. But the chronic shortage of homes has led to people moving out of the area to find suitable housing. “Milford Mills’ 69 energy-efficient houses and apartments will cater to first time buyers, families and downsizers. We are proud that local craftsmanship and our fine attention to detail will create a highly sustainable development that will add to the village’s vibrancy and appeal. With these natural stone homes becoming available to reserve, we are urging interested parties to register on our website.” The houses will be installed with air source heat pumps, while the apartments will have electric heating, with solar PV panels fitted to the roof of the building to generate renewable energy. The site will be further complemented by 1.5-acres of public open space and the recent restoration of the Grade II listed Dye House by Chevin Homes to form a 4,500 sq ft commercial premises. The former 18th Century cotton mill housed some of the world’s first mechanised industrial spinning factories. The historic features that are being painstakingly restored include the Mill Lade that now feeds a hydroelectric power plant downstream, along with the repair of all original stone boundary walls.

Vistry Group gets green light and signs partnership deal to build 140 new homes in Earl Shilton

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Vistry Group gets green light and signs partnership deal to build 140 new homes in Earl Shilton
Vistry Group, the provider of affordable mixed-tenure homes, has been granted planning permission by Hinckley and Bosworth Borough Council to bring 140 new homes to Leicester Road, Earl Shilton. Simultaneously, Vistry has completed on a contract with Places for People, the Social Enterprise, for 83 properties. This £31m new development will consist of one-, two-, three-, and four-bedroom mixed-tenure houses and maisonettes designed to blend with the town’s historic community. Andy Reynolds, Managing Director of Vistry South East Midlands, said: “We are thrilled to have secured planning permission to start work on these much-needed mixed-tenure homes in the historic town of Earl Shilton. “Working in partnership with Places for People means that this development will not only meet the housing needs of the area but will blend family-friendly homes and green open spaces to create a thriving and sustainable community for the future.” The new homes will be built using modern methods of construction (MMC) reducing the carbon footprint of every property. The homes will be manufactured off site using open panel timber frames from the Vistry Works East Midlands factory just 12 miles away in Leicestershire. Each home built using these panels emits 14,460kg CO2e less than a traditional brick-and-block house. Nilam Buchanan, Regional Managing Director, Developments Central and North from Places for People, said: “We are delighted to partner with Vistry Group on this significant development in Earl Shilton to bring forward more high-quality, affordable homes that foster vibrant and sustainable communities. “The mix of one-, two-, three-, and four-bedroom homes will cater to a diverse range of people, ensuring that everyone has access to a safe and comfortable living environment. “We know how vitally important a sustainable home can be for people, and we’re excited to see modern methods of construction used to reduce the carbon footprint of these homes, contributing to a greener future for all. We look forward to seeing this development come to life and making a positive impact on the local community.” Work is expected to start in spring 2025.

Saint-Gobain’s assets from closed Holwell foundry to go under the hammer

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Saint-Gobain’s assets from closed Holwell foundry to go under the hammer
Saint-Gobain PAM UK has appointed NCM Auctions to manage the complete clearance of its Holwell foundry facility in Melton Mowbray. The Doncaster-based auction and asset management company will also oversee the asset recovery of the entire foundry complex. The historic Holwell foundry, established in 1881, has been a significant part of Melton Mowbray’s industrial heritage for over 140 years. The facility specialised in manufacturing access covers and gratings for the water and sewage industry until its recent closure, with production operations being moved to a sister facility in France. NCM will execute a comprehensive site clearance program at Saint-Gobain’s Holwell facility. The program will combine careful decommissioning with optimised asset value recovery through an auction. This online auction will feature an array of specialist foundry equipment, including overhead cranes, weighbridges, lathes, milling machines, compressors, conveyors, racking and many other items. Amy Rutherford, Partnership Lead at NCM, said: “This contract award from Saint-Gobain represents a significant milestone for NCM Auctions and reinforces our position as a trusted and leading partner in industrial site clearances. “Saint-Gobain’s commitment to sustainability is truly commendable. By auctioning off a wide array of specialist equipment, they support the local community and businesses and ensure that valuable resources are recycled and reintegrated into the circular economy.” The collection will be sold via an online auction with lots ending from 1pm on Thursday 20 February. NCM will also be considering private treaty sales for the disposal of these assets.

Proposal raised to create Loughborough Town Council

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Proposal raised to create Loughborough Town Council
A proposal has been made to explore the creation of a town council for Loughborough following the Government’s publication of the English Devolution White Paper. The white paper outlines the Government’s intention to create elected mayors, strategic authorities, and reorganise councils in two-tier areas like Leicestershire, replacing county and district councils with unitary authorities. At a full council meeting of Charnwood Borough Council on Monday evening (20 January 2025), Leader Jewel Miah put forward a position statement outlining the Council’s position on the white paper. The position statement, which was discussed by the Council at the meeting, sets out the Council’s in-principal support for a Strategic Mayoral Authority for Leicester, Leicestershire and Rutland. It also set out the Council’s initial concerns over the size and scale of a proposed single unitary council for Leicestershire and Rutland and considers that there are other viable options that should be explored and opportunities for wider discussion and engagement. The statement also proposed to “explore the creation of a Town Council for Loughborough.” Cllr Miah said: “Government has put forward the English Devolution White Paper and has set a clear agenda to create unitary authorities in two-tier areas like ours in Leicestershire. “That process has only just started, with all options on the table and there is a long way to go. “However, to ensure that Loughborough has proper local representation and a strong voice in the future, we feel it is appropriate to explore the creation of a Town Council for Loughborough, whatever local government structures end up in place. “There is a clear legislative process that will need to be undertaken which will involve consultation and engagement with local communities. Officers at the borough council will now be looking at the proposal and producing a report for Cabinet. “Clearly Charnwood already has successful parish and town councils which make positive impacts on their local areas. People and communities in Loughborough would expect the same representation, should local government structures change in the future.”

Nottingham City Council reduces budget gap

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Nottingham City Council reduces budget gap
Nottingham City Council has significantly reduced the budget gap it is facing next year by two thirds due to “major improvements and efficiencies being implemented or planned.” A report to the Council’s Executive Board on 21 January set out the latest budget position for 2025/26 which shows a projected budget deficit of £23.4 million, down from the £69 million gap forecast in June last year. The cumulative budget gap over the period of Council’s Medium Term Financial Plan to 2028/29 has reduced from £172 million forecast last year to £56.8 million. Council Leader, Cllr Neghat Khan said: “The reduced budget gap is the result of the significant work we have been undertaking to get our house in order, making major changes to become more efficient and put the Council on a solid financial footing for the future. “The much improved financial settlement which Nottingham is to receive from the Government which includes an extra £30 plus million for next year has also had a positive impact on our financial position.”

Nottingham food business reveals plans to reduce employee numbers

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Nottingham food business reveals plans to reduce employee numbers
Jobs are on the line at Nottingham business The Compleat Food Group, as reports reveal plans to reduce employee numbers at a pie-making facility. The firm told Just Food it has entered into discussions over possible redundancies, with up to 131 roles at risk at Tottle Bakery in Nottingham. A spokesperson from the company explained that the plans are a result of a “comprehensive review of cold pie volume,” with jobs to be cut “across several departments.” They added the plans were “due to changing demand in a competitive trading environment and to ensure we can continue to support the long-term sustainable future of roles at the site.” The Compleat Food Group is not planning to close the factory, however. The business made a number of acquisitions last year, with aims to become the UK’s number one chilled prepared food company, including speciality food producer and distributor Harvey & Brockless, SK Foods and Zorba Foods.

2025 Business Predictions: Gary Piper, Sales Director at Barron McCann

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2025 Business Predictions: Gary Piper, Sales Director at Barron McCann
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Gary Piper, Sales Director at Barron McCann, a provider of IT services across retail, hospitality, travel, banking and payments throughout the UK and Europe. In 2025, additional revenue streams like digital media and advertising spaces will play an increasingly critical role for retailers. On screen advertising space will be an opportunity that stores should own, but we will start seeing these spaces, and WIFI advertising space, sold to external advertisers too. We’re going to see even smarter technology emerge, capable of tracking customers throughout store and delivering highly targeted advertisements. Smart shelf solutions are also gaining traction – improving pricing accuracy and supporting consumer-facing apps like the Co-op’s or Tesco’s Clubcard app, enabling members to view exclusive pricing. Customer experience is becoming more critical than ever and aligning with individual customer behaviours is essential for retailers to stay competitive. Serving the eco-conscious customer is another opportunity retailers can’t afford to overlook. EV charging stations, for example, not only support sustainability goals but also drive footfall and loyalty. The focus here isn’t on making money from the chargers but on keeping customers who value these services from going elsewhere. With EV technology becoming more affordable and reliable, it’s crucial for retailers to stay ahead. Moving to low-carbon logistics is a key part of this – think green vehicles for last-mile delivery and initiatives that encourage employees and customers to adopt more sustainable practices. For hospitality and retail businesses, leveraging green technologies will be a powerful way to attract eco-conscious customers by 2025. IT hardware recycling is one example of how we can embed sustainability into our operations while also demonstrating our commitment to the environment.

E-commerce business expands at Silverstone Park

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E-commerce business expands at Silverstone Park
Diva Group’s presence at Silverstone Park is set to expand significantly as Diva Patang, one of Afghanistan’s leading businesswomen in Europe, is to dramatically increase the size of her e-commerce business. Diva Group is in the process of moving from its 33,000 sq ft premises to newer 100,000 sq ft industrial accommodation at the innovation and technology campus. Employee numbers are set to double to around 200 as a result of the move. The business has already invested heavily in the use of AI plus, more recently, over £1m in automation systems to keep up with consumer demand for the big brand products it sells online. Diva, who located her business to Silverstone Park with just 20 employees three years ago, says growing belief in her vision from external forces has given her the confidence to expand. “Before Covid, online business was not as known to so many big brands,” explains Diva. “I remember trying to impress them and they weren’t that interested but now it is the other way around – they knock on our door to impress us to say ‘we’ve got the good brand, why don’t you bring it onto your shelves’. “I think that just shows the growth in online business and the technology that people are using today.” Diva continued: “In the next few months the premises will be transformed with a huge amount of warehousing for distribution – we anticipate serving a huge number of customers. “A lot of automation is coming – we’ve invested over £1m alone on automation and bringing new technology into the business such as belting systems to make our business growth faster. “AI is separate and something we’re already using. I’ve been careful to ensure I personally understand the AI so it is used in the correct way for our customers. This has proved highly effective in dealing with customer enquiries – 99.9% in fact.” Diva says her business also has the means to move with the times in terms of consumer demand. “As technology has improved, we have the online tools now to see what consumers are searching for the most. “This enables us to respond to these trends and fill those niches.” She added: “Who knows, maybe in the next few years there will be little robots running around in our premises – they perhaps need to be more advanced before we bring them, but it is something I want to bring in maybe the next stages of our growth. They could be part of our future but I think automation is the future anyway. “I believe in the next three to five years we can be three or five times bigger than we are now – this is my challenge. “I’m very happy with my business being at Silverstone Park – it’s a place that is providing huge opportunities for big companies and I’m actually proud to be with all these brands, companies and names in technology. And of course it’s nice to now be the holder of the biggest property here.”

G F Tomlinson raises funds and awareness in year supporting Aortic Dissection Charitable Trust

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G F Tomlinson raises funds and awareness in year supporting Aortic Dissection Charitable Trust
Midlands contractor, G F Tomlinson, has reflected on its impactful partnership with the Aortic Dissection Charitable Trust (ADCT) as its chosen charity for 2024. The year-long collaboration has seen the team come together to raise £3,700 and vital awareness for a life-threatening condition that affects seventy people weekly across the UK and Ireland. Aortic Dissection is a serious heart condition caused by a tear in the wall of the aorta. Without early detection and treatment, it can lead to devastating consequences, yet with timely intervention, survival rates can soar to 80%. In support of the ADCT’s mission to improve diagnosis, prevention, and treatment outcomes, G F Tomlinson hosted an array of fundraising activities throughout the year, dedicating 386 volunteering hours in total. Key activities in 2024 included:
  • April: A pre-recorded Q&A video featuring Pauline Latham OBE MP, a Trustee of the charity, alongside G F Tomlinson’s HSEQ Advisor Mark Houldsworth. Pauline shared her motivations for supporting the charity, her personal connection to the cause, and vital information about the signs and symptoms of Aortic Dissection.
  • June: Site Managers Phil and Ed completed the gruelling Lake District Ultra Challenge, conquering a continuous 100km loop around the Southern Lakes.
  • October: Attendance at the Aortic Dissection Charity Ball held at Pride Park Stadium, further strengthening connections within the community and purchased items in the silent auction on the night.
  • November: A staff charity quiz night and raffle brought teams together in a fun and engaging way to support the charity.
  • December: A festive Christmas Jumper Day closed out the year with all proceeds donated to the ADCT.
Group Chairman of G F Tomlinson, Andy Sewards, said: “We are honoured to have supported such a vital cause throughout 2024. The collective effort of our team demonstrates the importance of raising awareness and funding for Aortic Dissection, ensuring more lives can be saved through early diagnosis and improved treatment options. “The partnership aligns perfectly with our commitment to making a difference through meaningful social value initiatives.” Pauline Latham OBE MP said: “We are truly grateful for the support G F Tomlinson has shown this year. Their efforts have not only raised funds but also helped bring much-needed attention to Aortic Dissection. This partnership has made a real difference, and I deeply appreciate their commitment to our cause.”

East Midlands unemployment falls to lowest level in over a year

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East Midlands unemployment falls to lowest level in over a year
With unemployment in the region among over 16’s having dropped more than any other region in the UK to 3.8%, East Midlands Chamber says the impact of higher staffing costs businesses face from April, following measures announced in the Autumn Budget has yet to be seen. The latest data from the Office for National Statistics covers September to November 2024 and is now the lowest unemployment rate in England, having fallen 0.8% from the previous quarter. The last time the figure was below this point was April to June 2023. East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “Falling unemployment is absolutely something we want to see, getting people into jobs and driving the East Midlands economy, but the reality is we’re not at a champagne moment. The swathe of costly measures announced to businesses in the tough Autumn Budget hasn’t hit yet and could well turn this figure upside down. “Our most recent Quarterly Economic Survey revealed Corporate Taxation at the top of concerns reported by businesses, followed by inflation and business rates. With National Insurance contributions set to rise and a lower rate at which payments are made, added to a higher national living wage on the horizon, businesses have difficult decisions to address. “We have strong data that shows a doubling of East Midlands businesses planning to cut back on recruitment, up to 22% of firms. To put perspective on that, it was 9% in the survey we carried out before the Autumn Budget was announced. “Three out of ten respondents in the survey after the Budget have revised their investment plans downwards for training, while six out of ten plan to up their prices. These are signs that businesses are going ‘should we really be pushing up our costs when we’ve got huge added costs to foot somehow.’ “Our Quarterly Economic Survey is a reliable indicator of business intention in the East Midlands as it’s based on both sentiment and measurable factors. Businesses invest when times are good and the right environment is in place, but when you’ve attributed a certain amount of outgoing cash and then learn your staffing costs will be higher than anticipated you may well rethink. “Political leaders must not sit back and wait to see how the next few months unfold. We need policies in place that are supportive to businesses in the East Midlands, enable uninhibited growth, so businesses are not having to freeze spending to protect themselves.”

Chesterfield architects set up base north of the border

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Chesterfield architects set up base north of the border
Chesterfield’s Whittam Cox Architects has opened a new office in Dundee to serve as a hub for the practice’s growing portfolio of projects in Scotland. This strategic move aims to strengthen the company’s footprint in the region, with a particular focus on driving growth in the retail sector, as well as providing further potential to expand into a wider architectural offer to deliver projects in other sectors. The practice has worked in Scotland for many years with some of the UK’s leading retailers. This office will look to further develop their ability to deliver a range of projects in the country. Andy Dabbs, Managing Exec Director, said:“We are thrilled to officially launch our new office in Scotland. We see Scotland as a diverse and dynamic market for us. By establishing a local presence, we aim to deepen our relationships with existing clients and enhance our proposition and reach for new client growth, both here and in Ireland”. The Scottish office will focus initially on retail work. The firms long-standing expertise in retail architecture will be complemented by its aspiration to deliver wider architectural design and delivery services in the region. The new office will be led through the new appointment of Regional Director Clive Gordon; a retail and technical expert with experience spanning many years. Clive is known to the practice through collaborating on previous projects together.

Leicestershire precision engineering firm acquires supplier

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Leicestershire precision engineering firm acquires supplier
A precision engineering firm in Hinckley has acquired one of its main suppliers. H2M Engineering Limited, which is based in Hinckley and specialises in producing machined components, has purchased Accurate Grinding Limited. Law firm Wright Hassall acted on behalf of H2M Engineering Managing Director Andy Forryan and Production and Engineering Director Martin Forryan to acquire the business. Accurate Grinding Limited, which was based in neighbouring Barwell, operates grinding machines to grind, shape and finish metal components and has now re-located to the H2M Engineering site. H2M Engineering produces and assembles components for a range of industries including aerospace, autosport and gas generation across the UK. Penelope Sankey, of Wright Hassall, acted on the acquisition, with the corporate finance advice provided by Greg Philp and Holly Andrews, of Horizon TAS. Penelope said: “We are extremely pleased to complete this acquisition on behalf of H2M Engineering as the business looks to expand its offering. “This deal has seen H2M acquire one of its key suppliers, enabling it to bring everything under one roof and offer an expanded range of products to its clients. “It is always very positive to be able to support a growing business, and we wish H2M Engineering every success for the future.” Greg Philp, of Horizon TAS, said: “We worked closely with H2M Engineering, as well as a team of other local advisors, to make sure the deal was structured in a way that worked for everyone—financially, legally, and personally. “It’s been fantastic to see two local businesses with shared values come together, and we’re excited to watch them grow side by side in the future.”

Soft furnishings company falls into administration

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Soft furnishings company falls into administration
Nottinghamshire-based soft furnishings company Home Curtains (UK) Limited has fallen into administration. Home Curtains is a leading name in the home furnishings industry, with over 35 years of industry experience, supplying products to a large number of retailers and direct to customers. Due to rising costs of materials, shipping and energy, alongside reduced consumer spending and inflationary pressures, the company faced difficulty maintaining profit, and  now Dean Nelson, Head of Business Recovery and Restructuring at PKF Smith Cooper, has been appointed joint administrator. Trading of the business is being continued over the coming weeks, under the supervision of the joint administrator, whilst either a purchaser is found for the business and its assets, or the substantial quantity of stock is wound down and sold. The administrator has already negotiated a significant sale for a proportion of the company’s available stock. Dean Nelson said: “I continue to encourage both the trade and the public to seize the opportunities available during this trading period for the company. I will be working towards maximising sales of stocks to obtain the best possible outcome for all creditors and stakeholders.”

Paragon supports Midlands property developers through £150m development finance

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Paragon supports Midlands property developers through £150m development finance
Paragon Bank’s Development Finance division lent nearly £150 million to developers and housebuilders in the Midlands last year, boosting new homes across the region. The team supported 16 projects throughout the region in the year to 30 September 2024 (Paragon’s financial year), including schemes in Birmingham, Coventry, Derby, Nottingham and Wolverhampton. In terms of the split, £103 million was lent to developers in the West Midlands across 11 schemes, with £45 million financing five projects in the East Midlands. Amongst the schemes supported were:
  • £21.1 million funding for the second phase of Elevate Property Group’s Silk Yard Development in Derby
  • £5.4 million funding for a 34-unit scheme in Nottingham for Hockley Developments Ltd
Neal Moy, Paragon Development Finance Managing Director, said: “We are committed to support more developers across the Midlands and, with our highly experienced team and the backing of a strong and profitable bank, we have the capacity and appetite to do so.” He added: “We were able to support a range of developments last year, from small high-end single digit housing schemes to large-scale projects to purpose built student accommodation. “The Midlands is a diverse region and boasts vibrant cities across the East and West, as well as other fantastic locations to live in some of the smaller towns and villages. We look forward to working with more developers in the region during 2025 and we are committed to becoming the development funding partner of choice.”

Balfour Beatty to sell Derby rail measurement business to Hitachi

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Balfour Beatty to sell Derby rail measurement business to Hitachi
Balfour Beatty, the international infrastructure group, has reached agreement for the sale of Omnicom, its Derby-based specialist rail measurement hardware and intelligent software business, to Hitachi Rail. The acquisition by Hitachi Rail will support Omnicom’s growth strategy to expand beyond the UK into the US and European markets. Balfour Beatty’s UK Rail business will continue to focus on its core capability of managing, enhancing and maintaining thousands of miles of railways and supporting rail infrastructure across the UK. Over the last decade, Omnicom’s capabilities and offering to the market has strengthened through acquisition and organic growth. Today, with its over 100-strong subject matter experts, it develops and deploys proven, AI enabled technology alongside robust hardware and software to capture rail data. This assures operational stability and enhances train-borne monitoring of rail infrastructure for customers such as Network Rail and London Underground. Mick Rayner, Managing Director of Balfour Beatty’s UK Rail business, said: “In order to capitalise on its unique technological solutions to the Rail market, Omnicom requires an owner with a truly global reach and a complementary culture. “Hitachi’s acquisition will further enable Omnicom to leverage its capabilities and apply its expertise in the rail and digital technology sectors in both the US and European markets.” Sanjay Razdan, Managing Director of Omnicom, said: “This acquisition strengthens Omnicom’s ability to collaborate, innovate and deliver AI-enabled systems and services whilst further enhancing the safety, efficiency, and reliability of rail infrastructure, building on our proven data driven solutions which help predict and prevent railway asset failures. “I look forward to Omnicom’s continuing success as part of the Hitachi brand.” Hitachi Rail CEO, Giuseppe Marino, said: “This is a strategic acquisition for Hitachi Rail. Plugging Omnicom’s pioneering track monitoring tools into our digital asset management platform, will further strengthen our global offer to optimize customers’ rail services and the surrounding infrastructure. “New technological solutions such as our HMAX platform demonstrate the power of AI to enhance the performance of our railway infrastructure and systems.”

Yü Group delivers “strong” 2024

Tess Egginton
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Yü Group delivers “strong” 2024

Nottingham-based Yü Group, the independent supplier of gas, electricity, meter asset owner and installer of smart meters to the UK corporate sector, has “delivered a strong 2024.”

According to a trading update for the financial year ended 31 December 2024, revenues grew 40% and are expected to be approaching £650m.

Meanwhile, delivery of 2024 EBITDA margin is forecasted above expectations, driven by strong contract profitability in the second half of the year, robust hedging policy and tightly managed bad debt.

The year saw continued growth in Yü Energy, during which meter points supplied increased 65% to 88k, and volume of energy supplied (EQVS) increased organically by 78%.

Average monthly new bookings, however, of £42.6m was down from £55.5m in 2023, reflecting a softer commodity pricing environment.

Revenue contracted for the next financial year increased 9% to £566m.

Progress was also mode at Yü Smart, with continued scaling up of meter installs growing 169% in the year to 22.9k.

Bobby Kalar, CEO of Yü Group, said: “The Group has delivered a strong 2024 and I’m delighted, once again, to update shareholders on our progress.

“Yü Energy, our supply business, has seen a c.40% increase in revenue despite lower commodity pricing, and we enter 2025 with 88,000 meter points, up 65%.

“Yü Smart continues to deliver incredible advantages to our customers and the Group, and we now have national coverage of skilled engineers. We have financed 27,200 smart meter assets which provide a growing index-linked annuity income stream alongside other significant benefits to our customers and our own operation.

“I look back with pride on our journey and the hard yards invested, which have seen a quadrupling of revenue in the last four years. While our increased scale suggests a lower organic growth rate in the future, our Group is well placed to continue to take market share with a significant opportunity remaining.

“Our business is in good shape across Yü Energy and Yü Smart to continue to deliver. We have a fantastic and dedicated team in place, and I’d like to thank them for all the work done in delivering yet-another record year.”

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