Cooper Parry completes duo of deals
East Midlands accountancy firm Cooper Parry (CP) has completed two deals, welcoming UHY Hacker Young Manchester and Haines Watts Thames Valley/Reading to CP.
The acquisitions are CP’s ninth and tenth since 2023, and have seen the business quadruple in size since partnering with Waterland Private Equity in 2022.
The deals see CP expand into the Northwest powerhouse and the UK’s ‘Silicon Valley’, two key geographies for fast-growing mid-market businesses. They also add 200 people across Audit, Tax, Outsourcing and Deals, including 17 Partners, taking CP’s headcount to over 1,400.
The news comes hot on the heels of CP’s recent acquisition of fast-growing London-based Salesforce consultancy, Cloud Orca, and the launch of ATLAST, the global professional services firms’ community CP co-founded.
Ade Cheatham, CP CEO, said: “Two landmark deals over the last couple of days confirms our ambition to create the UK’s next gen professional services group. Acquiring UHY Hacker Young Manchester allows us to establish a powerful presence in the Northwest.
“In the same way, the Thames Valley deal accelerates our growth down the M4 to create the #1 advisory firm in the UK’s ‘Silicon Valley’ and Southwest.
“Our presence at the centre of every key UK business powerhouse – as one iconic and rebellious brand – is key to supercharging the next phase of our expansion and market leadership.
“What Dave Kendrick, Ben Loveday and their talented teams have created gives CP two perfect platforms from which to launch further UK acquisitions, strategic hires and specialist team lifts.”
Dave Kendrick, UHY Hacker Young Manchester CEO, said: “I am hugely proud of what we have achieved over the last few years as a team and taking our amazing 160+ strong team into the Cooper Parry business feels the perfect fit.
“Our growth ambitions, culture, team ethic and industry specialisms feel very much aligned and we now have the platform to dominate the Northwest region as the leading advisory firm.”
Ben Loveday, Haines Watts Thames Valley Managing Partner, added: “I’m really proud of what our team has been able to build here over the years. Looking ahead – and having seen the success of the recent Haines Watts London and Southeast integration – we see Cooper Parry as an ideal fit.
“Culturally and commercially, we’re perfectly aligned to take advantage of the enormous opportunity the Thames Valley presents.”
Experian completes acquisition down under
Experian, the data and technology company, has completed its A$820 million acquisition of consumer and commercial credit bureau, illion, in Australia and New Zealand.
The acquisition and integration of illion’s 500 strong team, data, software and intellectual property into Experian will create a unified business that brings together complementary capabilities, assets, people and customers. The combined organisation is set to enhance market choice and deliver powerful, data-driven solutions for businesses and consumers across the region.
Malin Holmberg, CEO Experian EMEA and Asia Pacific region, said: “Having successfully led the Australia and New Zealand business for the past seven years, Andrew Black, will take leadership of the combined organisation, overseeing the strategic integration and growth plans, leveraging our global innovations.”
Experian A/NZ CEO Andrew Black said Experian’s five-year strategic plan will quickly unlock value of the combined team and capabilities, with the first phase balancing speed and service continuity for customers.
“This is a historic day for our business, our people and our customers – and it’s just the beginning,” Black said. “Through this acquisition we aim to continue our growth trajectory in Australia and New Zealand, significantly expand our market and bring new capabilities to redefine what a data-driven technology business can be.
“illion has built an impressive product portfolio, data assets and customer base that are diverse and complementary to Experian’s strengths and we have a robust integration plan that will enable our customers to quickly realise the benefits of the combined entities.
“One of the big wins here is the combined data assets which will provide more choice for our customers. This is going to supercharge our product and service capabilities, in alignment with Experian’s global strategy, in a way that simply hasn’t been possible before.”
Black confirmed that the new combined entity will be rebranded to Experian, likely within the next 12 months, although some of the illion product names that have gained credible market awareness will continue.
Experian confirmed that John Banfield, CEO of illion, will be stepping down following the successful completion of the acquisition. Banfield played a pivotal role in transforming illion’s performance and culture, culminating in the company’s acquisition by Experian.
Rothera Bray LLP merges with Massers
Rothera Bray LLP, the East Midlands law firm, has merged with Massers. The merger is a key part of the firm’s ambitious growth plans and marks a significant step forward in expanding its team and service offerings.
The newly merged firm will continue under the name Rothera Bray LLP, with an expected turnover of £20 million for the 2025-2026 financial year.
As part of the merger, all 30 Massers employees have joined the Rothera Bray team. The Massers office in West Bridgford will remain open, while staff from Massers’ Nottingham office will be relocating to Rothera Bray’s Nottingham office in the Lace Market, centralising services and strengthening the team.
Christina Yardley, CEO at Rothera Bray LLP, commented on the merger: “We have a mutual commitment to grow the firm, which represents a fantastic opportunity for everyone to progress in their careers.
“By combining the best skills and abilities from both teams, we can continue to deliver the highest level of service to our clients. People-driven values, which are fundamental to both firms, are at the core of this merger.
“Together, we look forward to continuing our shared commitment to excellence and driving our firm’s future growth, while creating more opportunities for our teams and delivering exceptional results for our clients.”
Massers Director Tim Brooke stated: “From our initial discussions, it was clear that Massers and Rothera Bray share a strong commitment to the same core values and a focus on exceptional client care.
“The entire Massers team is enthusiastic about the opportunities this merger presents. In addition to continuing our excellent service, we are excited to offer our loyal clients access to a wider range of services that we previously could not provide.”
As part of the merger, key members of the Massers team will assume prominent leadership roles within Rothera Bray, contributing to the growth and enhancement of the firm’s services across the East Midlands.
Litigation Director James Carley will oversee and expand the firm’s Litigation services in Leicester, while Conveyancing Director Tim Brooke joins forces with Conveyancing Partner Michelle Young to further develop the firm’s conveyancing services across the counties.
Wills and Probate Director Richard Jackson will lead Rothera Bray’s Private Client team in Derby, and the Commercial Property team in Nottingham will be under the leadership of Corporate and Commercial Director Russell Thompson.
Additionally, Wills and Probate Director Martin Witherspoon, formerly of Sharp & Partners, returns to Rothera Bray to head the Private Client team in West Bridgford.
Ownership restructure sees Derby video and photography firm relaunch as a content creation company
Video and photography firm ‘AV IT! Media is relaunching as a content creation company after an ownership restructure and the appointment of three new members of staff.
The firm, which is based in Derby, has been taken over by co-owner Mark Averill and his partner Jenny Hudson, who have bought out former partner Ash Stanley.
The couple have drawn up an ambitious expansion strategy which they’re describing as the beginning of a new era for ‘AV IT! Media.
The move has coincided with the appointment of three new recruits, including Georgia Unwin who will provide social media support to a host of clients and help with ‘AV IT!’s own marketing and communication, along with storyboarding for video shoots.
Andy Brailsford, who is an experienced photographer, will be responsible for managing the automotive photography arm of the business and will also support at events.
Experienced videographer and editor Louis Greatorex completes the team, following the completion of successful campaigns for ‘AV IT! Media with both Derby Museums and Aston Villa Football Club.
Mark said: “We have built a solid reputation for creativity and quality and our vision is to continue delivering exceptional service to our clients while also exploring new opportunities for growth.
“With full ownership, Jenny and I can move forward with a unified vision, invest in new technologies, and expand our services to meet the growing needs of our clients. The addition of new staff members brings fresh perspectives and expertise, which will be instrumental in driving our next phase of growth.”
‘AV IT! Media has been supplying videography and photography to clients across the UK for six years and works with companies including Derby County, Bowmer and Kirkland, Derby City Council and HUUB.
Last year the firm teamed up with Gino D’Acampo to help the celebrity chef launch his latest range of pizza ovens, beating competition from large London agencies to secure the contract.
Jenny Hudson, who has been the company secretary and played a pivotal role in managing the business since its inception, will now be stepping into the role of Director.
Jenny said: “As visual storytellers with years of experience, we’re expanding our expertise to a broader range of creative services.
“Our expansion plans are ambitious, but with the talented team we have and the strong relationships we’ve built with our clients, we’re confident that the future is full of promise for AV IT!”
£8.8 million skills hub progresses in Mansfield
The creation of an £8.8 million skills hub to train people for careers in emerging industries and help businesses adapt to new technologies has taken a major step forward.
Education and council leaders joined construction specialists to see the state-of-the-art building – called the Future Tech Skills and Knowledge Exchange – take shape at West Nottinghamshire College’s Chesterfield Road campus in Mansfield.
A large steel frame that makes up the ‘skeleton’ of the structure has been erected, taking it into the next phase of development, which will involve constructing the external elevations, masonry work, installing windows and doors, and completing roof coverings.
Due for completion in summer 2025, the flagship facility will accommodate around 300 college students and will deliver qualifications at level 3 and above, with a strong focus on innovation and STEM (science, technology, engineering and maths) subjects.
Incorporating facilities to support construction, engineering and digital technologies, it aims to prepare Mansfield to meet future labour market needs, plug skills gaps, and create better-paid jobs, particularly in sectors that are growing through advances in technology and automation.
This latest college building will provide 1,343 sq m of teaching space across two floors and be a focal delivery point for T Levels – technical-based qualifications developed in collaboration with employers.
Gavin Peake, director of IT, estates and learning resources at the college, said: “It is exciting to see the building move into its ‘above ground’ phase of construction. Once complete, it will be used by a variety of STEM subjects to deliver high-quality education and training in both existing and emerging sectors.
“This new facility, in the centre of Mansfield, will enable our students to study towards innovative careers in areas such as engineering, construction and digital, and fill skills gaps for many local firms. It will be an extremely welcome addition to the college’s estate and will further strengthen our links with employers in responding to future-facing job roles.”
Darren Chapman, operations director at Clegg Construction, the building contractor leading on the site’s development, said: “We are delighted to be working with one of the leading further education providers in the East Midlands on the construction of its Future Tech Skills and Knowledge Exchange hub.
“As a Nottinghamshire-based contractor, several of our staff, including me, are West Nottinghamshire College alumni and neighbours. We are especially excited to be involved in the creation of these new facilities, which will support the future training of professionals in a range of sectors, including our multi-faceted construction industry.”
Merger sees TC Group strengthen Lincolnshire presence
TC Group, the firm of accountants and tax advisers, has completed a merger with Lincolnshire-based accountancy practice, Brooks & Partners, to form ‘TC Brooks & Partners’.
This deal continues TC Group’s M&A Strategy and enhances the firm’s more than 30 locations across the UK.
Brooks & Partners provide a full range of accountancy services. Their team in Stamford possess extensive expertise across various tax domains and business sectors, enabling them to provide comprehensive services to a diverse clientele, ranging from individuals and small enterprises to large corporate organisations.
Fay Brooks and Kate Howitt, Partners at Brooks & Partners, said: “We are thrilled to join TC Group, marking an exciting chapter in our journey. This partnership will help us work more closely with our clients, offering even better services and support. Our team is eager to meet and collaborate with the new team, building strong relationships and continuing to grow for the benefit of our clients.”
TC Group Partner, Keir Warwick said: “We are delighted to merge with Brooks & Partners, Stamford has always been an area in our sights and Brooks has a great reputation. As a result of this merger we now have a really strong presence in the town and I cannot wait to get started and grow it further with Kate and Fay.”
Frasers Group’s offer for Mulberry rejected
Shirebrook-based retail giant Frasers Group has made an offer for fashion brand Mulberry, which has been rejected.
Yesterday (30 September), Frasers, which is a significant minority shareholder owning approximately 37% of the issued share capital of Mulberry, revealed a possible cash offer for the business.
Under the terms of the deal, Mulberry shareholders would have been entitled to receive 130 pence in cash for each Mulberry share. This implies a valuation of approximately £83 million for the entire issued, and to be issued, ordinary share capital of Mulberry, or approximately £52.4 million for the entire issued and to be issued share capital of Mulberry that Frasers does not own.
The offer followed Mulberry announcing a proposed subscription for 10,000,000 new ordinary shares in the capital of the company by Challice Ltd (the company’s 56.1% majority shareholder), at a price of £1 per share, and a separate offer to existing shareholders of the company of up to 750,000 new ordinary shares at the subscription price. Frasers said: “As a significant minority shareholder, owning approximately 37% of the issued share capital of Mulberry, Frasers was not aware of the Proposed Subscription until immediately prior to its announcement. Frasers first invested in Mulberry in February 2020 and grew its holding to approximately 37% that same year. “As a committed long-term investor in Mulberry, Frasers would have been willing to underwrite the subscription in its entirety, potentially on better terms for the Company. Given this total lack of engagement, we believe the status quo to be an untenable position for Frasers and the other minority holders of Mulberry shares.” The firm added: “We have long been supportive of the brand and commercial opportunities available to the Company. With our leading retail expertise and presence, and best in class distribution capability, we believe Frasers to be the best steward for returning Mulberry to profitability. “As highlighted in the Subscription Announcement, as a standalone business, the Company is facing unabating difficulties. To name a few, rising costs, macro-economic headwinds, and increased selectivity from its discretionary customer base. Frasers are exceptionally concerned by the audit opinion in the latest annual report released on Friday, 27 September 2024, which notes a ‘material uncertainty related to going concern’. As a 37% shareholder, Frasers will not accept another Debenhams situation where a perfectly viable business is run into administration.” Mulberry, however, has now rejected Frasers’ offer. Mulberry shared: “The Board believes that the combination of the recent appointment of Andrea Baldo as CEO alongside the recently announced Subscription and Retail Offer provides the Company with a solid platform to execute a turnaround and, ultimately, to deliver best value for all Mulberry shareholders. “In light of this, the Board has concluded that the Possible Offer does not recognise the Company’s substantial future potential value. In addition, the Board has been informed that Challice is supportive of the Company’s strategy and has no interest in supporting the Possible Offer. As a result of the above, the Board has rejected the Possible Offer.”Employing people with criminal records could boost East Midlands recruitment says Chamber as it backs launch of new charter
East Midlands businesses could plug gaps in their workforce by hiring people with a criminal record, East Midlands Chamber has said, announcing support for a new Alliance and Employment Charter set to launch with a “Go Live” event on 2nd October.
The UK Fair Chance Business Alliance encourages employers to open up recruitment and career progression to people that have previously offended by promoting the benefits to businesses, and providing employers with resources to safely, successfully and sustainably leverage the talent pool.
The “Go Live” event will detail the mission, overview the Charter itself, plans for the future and those businesses already involved.
East Midlands Chamber Chief Executive Scott Knowles said: “In our Quarterly Economic Survey six out of ten respondents reported having difficulty finding suitable candidates to fill roles. The Chamber has supported prisons in Derbyshire, Nottinghamshire and Leicestershire on their employment advisory boards so supporting the Fair Chance Business Alliance and its ‘Go Live’ event to launch the Charter is a natural progression that builds on that work.
“By embracing, not excluding those with a criminal record, businesses can really take advantage of the vast expanse of this talent pool. Widening the approach to employment would take the pressure off the recruitment process, increasing the number of skilled applicants and, ultimately, productivity.
“One of the best things about the Charter is the way it can provide resources and training to employers that sign up to it, so I’d really urge any business that’s struggled with recruitment to attend the Go Live event and consider joining the Fair Chance Business Alliance.”
Fair Chance Business Alliance Chair Keith Jones said: “Overlooking this large group of candidates at a time when businesses are struggling to both attract and retain talent would be overlooking huge potential. Eight million British adults of working age have a criminal record, so to discount the opportunity presented by this talent pool would be limiting employers’ scope to find the best candidates.
“In addition to filling a vacancy, research shows that businesses gain a more inclusive and diverse workspace. Not only are businesses that join the Alliance likely to see an increase in the number of applications for a role, but customers have the added comfort of knowing the business is community minded.
“Being an employer-led initiative, the Alliance is set up to make implementation easy; we have practical resources to help businesses recruit aligned to the UK’s first dedicated three-tier charter for recruiting and progressing people with criminal records – a disability confident for the Justice sector. A business can ultimately become a ‘Champion’ of Fair Chance Employment, showing that it’s a truly inclusive workplace.”
BDO Midlands welcomes new UK Managing Partner
Kyla Bellingall, Regional Managing Partner at BDO in the Midlands, has welcomed BDO UK’s new Managing Partner who begins his new role today [1 Oct 2024] restating the firm’s commitment to the mid market.
Describing the mid market as the ‘economic engine’ powering UK growth, BDO UK’s new Managing Partner, Mark Shaw, praised the impact these businesses have on growth, skills and employment in the region and across the country.
In the Midlands, there are more than 4,000 mid-sized businesses generating £224bn in revenues. UK-wide, the mid market is responsible for one in three private sector jobs and has revenues equivalent to half the value of UK GDP.
Mark also used his day one message to emphasise the importance of regional offices to BDO’s future success.
“We are proud of our regional network and the knowledge and market understanding of those who work there. Our close connection to local markets allows us to make a difference to regional growth benefiting local economies,” said Mark.
Today also marks the commencement of a new Leadership Team at BDO, which includes Midlands Managing Partner, Kyla Bellingall. Kyla’s national leadership team role sees her responsible for the strategic direction of regions, markets and sectors for the firm.
Kyla has more than 25 years’ experience having joined the profession as a school leaver apprentice. She joined BDO as an Audit Partner in 2015.
Commenting, Bellingall said: “The growth of our Midlands practice is a reflection of BDO’s growth and investment as a firm overall. Our core market of mid-sized, ambitious and entrepreneurially-spirited businesses has demonstrated strength and resilience during a challenging economic period.
“It is an exciting time for Mark, and I am delighted to be part of the new Leadership Team with a firm focus on the regions, where we will collectively build on our heritage while looking to the future.”
Mark Shaw, BDO Managing Partner, added: “I look forward to working with our talented partners and colleagues to achieve balanced growth over the coming years; one that puts serving the public interest, our culture and the wellbeing of our people at its heart.”
Mark takes on the role at an exciting time for BDO. The firm, which has 18 offices across the UK and employs 8,000 people, is fast approaching the £1bn revenue milestone. This has been done through controlled growth across all parts of the firm.
Last year, BDO also invested £120m back into the business – the largest annual investment in the firm’s 100-year history.
East Midlands business leaders invited to make their voices heard on new board
A new board that will strengthen links between businesses and East Midlands Combined County Authority is recruiting members.
Representatives from businesses of all sizes across the East Midlands can submit their interest in joining the Business Advisory Board until Friday 11 October.
The board will provide strategy, advice and guidance to the main EMCCA Board, EMCCA’s committees and Mayor Claire Ward, helping to ensure the experience and knowledge of regional businesses is harnessed when making decisions around the economy, skills, transport, housing and the transition to net-zero.
The Business Advisory Board, chaired by David Williams, Chairman of Geldards, one of the UK’s leading law firms, will meet at least four times a year to shape policy and engage with wider stakeholder networks and activity. Mayor Claire will sit on the Board to hear the voice of business first-hand.
The new East Midlands Combined County Authority (EMCCA) has more powers, more funding and more control devolved from Westminster. Covering Derby, Derbyshire, Nottingham and Nottinghamshire, it is uniquely placed to put the region first, speak with a strong voice and exercise powers to boost the region.
The Business Advisory Board will have 16 members from the private and public sector and East Midlands Chamber of Commerce. Private sector representatives will include experts from large businesses, small and medium enterprises and sectors with a significant chance of attracting further investment.
Members of the Board will be expected to have a good understanding of the East Midlands region and the business sectors that operate within it, experience of leadership roles in business and understand the challenges faced by businesses.
Anyone interested in joining the board must apply by Friday 11 October. There will be a shortlisting process and interview panel for applicants in the second half of October.
Hydrogen power unit builder secures £22m for expansion plans
Hydrogen power unit producer GeoPura, with hubs in Nottingham, Sheffield, Matlock, and Newcastle, has raised £22 million to accelerate its expansion plans.
This announcement builds on momentum from a £56m investment round in February 2024 and a £36m Series A funding round in February 2023, welcoming investment from Siemens Energy, General Motors Ventures, Barclays Sustainable Impact Capital, Swen Capital Partners, and the UK Infrastructure Bank. This brings total capital raised to £114m over the last two years.
Derek Bulmer, CFO of GeoPura, said: “Securing this debt funding is a pivotal milestone in our journey to build a global fleet of over 3,600 HPUs, which will require over £2.5 billion in capital over the next decade.
“This funding will not only accelerate our expansion but also drive significant reductions in carbon emissions and improve local air quality while contributing directly to the UK’s net zero targets. Partnering with world-class debt funders like BNP Paribas Leasing Solutions, Close Brothers, HSBC UK and Siemens Financial Services is critical to delivering this vision and achieving these goals.
“This milestone supports our commitment to a cleaner, healthier future and underpins the vital role of sustainable finance in advancing global environmental goals.”
Closure of Britain’s last coal fired power station is chance for Green Growth lead in East Midlands says Chamber
East Midlands Chamber says the closure of Ratcliffe-on-Soar power station is an opportunity for the region to continue to lead on Green Growth, but government support is needed.
The site is to cease producing energy today (30th September).
Director of Policy and Insight Richard Blackmore said: “Having powered millions of East Midlands homes for nearly six decades, the steam from Ratcliffe-on-Soar’s towers is a familiar site, whether you fly into East Midlands Airport or drive along the M1, but the continued transition toward reduced greener energy cannot wait.
“Reduced carbon emissions and more sustainable energy production take us closer toward reaching Net Zero, will boost employment and the economy through Green Growth. The East Midlands has development projects underway looking at nuclear fusion, nuclear fission and hydrogen; we have the UK’s only inland Freeport and extensive research is carried out at the region’s universities into future energy technology, but support from the new government is needed.
“With the Autumn Statement fast approaching, it’s essential that priority is given to backing low carbon projects like solar, wind, and small modular nuclear reactors; we need funding for energy storage and grid modernisation and Net Zero initiatives need to be properly incentivised so that the East Midlands can be firmly established as a leader in clean energy.”
£45m Lincoln student development reaches completion
Moorfield Group, the UK real estate fund manager, has completed construction of its 293-bed, £45m PBSA scheme in Lincoln.
The scheme, named BGU Student Village, includes townhouses and cluster flats across almost 90,000 sq ft and seven buildings ranging from one to four storeys, as well as landscaped gardens and leading sustainability credentials – including a +10% Biodiversity Net Gain.
Bishop Grosseteste University (BGU) Student Village is being delivered as part of a development agreement with Melberry Developments, with Bowmer and Kirkland as contractors. The development, which took 15 months to build, is ready to welcome students from BGU.
The scheme has delivered positive social impact, with the local workforce, suppliers, and education providers engaged in the development process. This included 76 hours of education for local students and 130 weeks’ worth of work experience for architecture students from the University of Lincoln.
Bowmer and Kirkland estimates that the social, economic, and local value realised by the scheme’s development amounts to £2.6m.
Charles Ferguson-Davie, Co-CEO and Chief Investment Officer at Moorfield Group, said: “Student housing is a sector of strategic focus for us, with the investment case supported by structural and demographic demand drivers, as well as the undersupply of fit-for-purpose accommodation.
“BGU Student Village will help to plug this gap, with the sector offering those with proven and long-standing expertise the opportunity to fund development and to refurbish existing purpose-built schemes as well as student houses of multiple occupation (HMOs).”
David Sarson, Managing Director at Melberry Development Management, said: “After our successful work together on Enso, the completion of BGU represents yet another vindication of the quality of product produced by Moorfield and Melberry’s development partnership.
“With a conscientiously thought-out amenity offering and best-in-class sustainability credentials, the scheme is all set to provide this generation of Lincoln’s students with high-quality accommodation they can be proud to call home throughout their educational journey.”
Bishop Grosseteste University Chancellor Dr. Tracy Borman, said: “We are thrilled to open the Student Village, which will significantly enhance the university experience by fostering a vibrant and supportive community close to our campus.
“This development is a key part of BGU’s broader growth plan, complementing our existing on-campus accommodation. It’s wonderful to see it all come together, ready to welcome our students to their new homes very soon.”
Caddick appoints Midlands operations team
Caddick has appointed John Currie and Ian Calder to head up its operations team for its growing construction division in the Midlands as the business’s project pipeline in the region hits £250m.
John and Ian join Caddick just over 12 months after it launched its presence in the Midlands construction market following the appointment of Ray O’Sullivan as Regional Managing Director in July 2023.
Fulfilling a remit to oversee the operations of Caddick’s construction division in the Midlands, John and Ian will be involved in all aspects of pre-construction and project delivery for the business’s growing pipeline.
John’s remit will include the operational delivery of the business’s high-rise residential development projects and Ian’s remit will include the region’s broader project base, including commercial, low-rise residential and industrial.
Previously Operations Director for Wates in the North West, John brings 30 years of experience to his new role having started his career as a Site Engineer in Yorkshire, later joining Carillion as a Project Manager in 2005.
Project highlights throughout John’s career include Manchester’s One St Peter’s Square and Beetham Tower, where John led the delivery of the residential floors of the city’s first skyscraper.
Ian started his career as a Site Engineer at Bullock Construction after obtaining a degree in Construction Management at Sheffield Hallam University. Throughout his career, Ian has held a number of senior operational roles for Midlands-based contractors, including Wates and Seddon Construction.
More recently, Ian has spent seven years at Speller Metcalfe where he was based in Wolverhampton, holding the position of Operations Manager and overseeing the business’s project delivery across the Midlands.
Ian said: “I’ve had a varied career delivering and overseeing projects in a number of different sectors from residential to commercial, industrial and public sector development across the Midlands, and I enjoy nothing more than getting out on site and being hands-on in achieving high standards. For me, my work environment is very important, and there is a really positive culture at Caddick.
“The business has a very strong reputation, and it has seamlessly introduced itself as a very strong player in the Midlands. I’m very excited to become part of the team as Operations Manager for the Midlands, and look forward to working alongside John.”
John added: “I am really excited to join Caddick, and particularly to be bringing my experience to help grow the business’s capability in high-rise development. Caddick is a family business with strong capabilities and an excellent health and safety culture, and the business is full of operationally focused people who know how to build, and know how to do it to a high standard.
“The market is changing, and there is a real need for a strong and financially stable contractor that can meet the needs of the pipeline. I’m really energised by the opportunity to lead the operations of our Midlands business, and to be working with colleagues in our other regions to build our high-rise capabilities.”
As Operations Director, John will also have a wider remit to bolster Caddick’s growing portfolio of high-rise residential work across Yorkshire, the North East and North West, drawing on his experience as Project Manager for Manchester’s Beetham Tower.
Ray O’Sullivan, Regional Managing Director of Caddick’s Midlands construction division, said: “The Midlands market has responded extremely well to Caddick as a new presence; we have a number of high profile projects on the ground and a healthy pipeline for the coming year.
“Our intention was always to offer clients and the supply chain a strong, financially stable and capable construction partner to give certainty of quality and delivery, and welcoming John and Ian will strengthen this commitment considerably.”
Streets Chartered Accountants considers potential tax and pension changes in the Autumn Budget and more in new news roundup
Streets Chartered Accountants considers potential tax and pension changes in the Autumn Budget and more in its latest monthly news roundup.
Five key areas of possible changes to Pensions in the Autumn Budget
Little has been said by Labour on what the budget will contain. We are led to believe there will be change and upheaval, barring a significant leak we won’t know though until 30th October. There are plenty of rumours around pensions and in the King’s speech, a commitment to a “pensions review”. What this means in the longer term, time will tell although there are five key areas which may be looked at within this review and as part of the budget in October. Read More.
Changes to Tips & Service Charge Rules
As of 1st October 2024, new legislation will change the way businesses manage tips. Here’s what you need to know to ensure compliance and avoid penalties. The new law mandates that all qualifying tips – whether received via cash or card – must be fairly distributed to staff. You can no longer withhold tips and the allocation must follow clear, objective criteria. The government has issued a statutory code of practice to guide this process. Read More.
Pre-Budget Personal Tax Update – the times they are a changing
The October budget is right around the corner. It could bring major changes to a whole range of estate planning taxes, especially Inheritance Tax (IHT) and Capital Gains Tax (CGT). Set down are some thoughts, identifying possible changes that might be on the way and how they might impact on your personal wealth and the financial well-being of your family. If you’re serious about protecting your wealth, it’s time to brace yourself. Read More.
Income Tax Reform
Over the coming years there are some significant changes happening to income tax. Whilst these may not appear in the headlines, as they are not direct changes to tax rates, thresholds or reliefs, they are nevertheless significant and need to be understood and planned for. In advance of the MTD introduction, another change is already underway. Read More.
Podcast: How might a new government affect your personal financial planning?
In this episode of The Streets Sessions, Streets talk to Sam Tindale, Financial Adviser and Managing Director with Tower House Wealth Management, about how the new Labour government might impact personal financial planning including pensions, investments, IHT planning, paying school fees and more. Listen Now.
Grants spotlight: new grant opportunities – September 2024!
Continuing the success of Streets’ dedicated Innovation Grants Consultancy, headed by Chris Parkhurst, they are excited to share with you some new grant opportunities that are now available. These include Contracts for Innovation, Biomedical Catalyst 2024 and Sustainable Medicines manufacturing innovation. There are also still live opportunities in the Defence sector and more general sectors with Smart grants and Innovation loans. Read More.
Taxes Made Easy
This guide is designed to provide you with an overview of the key tax rules from seven perspectives – that of the family; the employee; the person running their own business; the taxation of investments; disposals and CGT; property matters; and, finally, the potential liability on your estate at death. Please use the guide to help you identify planning opportunities, pitfalls to avoid and areas where you may need to take action and then contact Streets for further advice. Download Now.
Family Company Estate Planning Reviews
Planning for succession is a major concern for many families, particularly in the context of thriving family businesses and farming interests. Identifying the right approach is becoming increasingly essential.
Is it time to consider succession and intergenerational planning for your family business? Could you benefit from a conversation? Download Now.
Places for People to tackle sector skills shortage with launch of new trade skills movement
Social enterprise Places for People has launched a new training movement and delivery programme seeking to tackle the UK’s trade skills crisis and boost the future workforce of the housing sector.
The landmark scheme, called PFP Thrive, will deliver tailored and comprehensive training modules for the UK housing and construction sectors, with a brand-new training academy centre opening in Summer 2025.
Delivery programmes part of PFP Thrive will focus on the traditional and new skills needed by the housing sector to most effectively repair and maintain its customers’ homes, deliver its shared housebuilding programme, meet its retrofit goals and accelerate the development of individuals – both new and longstanding – within the industry.
PfP Thrive will also provide compliance training, apprenticeship and leadership development courses to meet the evolving needs of the sector workforce.
Operating from 20 sites across the UK PfP Thrive aims to train over 200 apprentices and over 1000 people in technical courses in its first year. The programme’s central hub and new academy building will be in Derby and will welcome its first apprentices from Autumn 2025.
Commenting on the launch of PfP Thrive, Greg Reed, Group CEO of Places for People, said: “Today marks the next major milestone in our relentless journey of innovation and ambition in helping Customers, Communities and the wider sector to thrive.
“PFP Thrive is so much more than just training provision. It’s about progress, growth and success – core values which embody our wider purpose to create and support thriving Communities, and which will bring to life dynamic learning opportunities to support our industry and provide our current workforce with the quality learning they deserve.
“We’re not just building skills, we’re building futures – for our People and the entire sector. We’re incredibly excited and this is just the beginning.”
Tom Arey, Director of PFP Thrive, added: “The housing crisis has been hanging over us for far too long but we also have a more recent threat staring us in the face – a worsening skills shortage which is damaging our ability to deliver today and putting at risk what we know we have to deliver in the future.
“By 2032 more than 565,000 time-served skills tradespeople will retire from the industry, leaving a gaping hole of some 50,000 electricians, 45,000 carpenters and 40,000 plumbers – just to mention three critical disciplines. This doesn’t even consider the skills we need to retrofit our homes and the use of new technology or innovations that are coming down the track.
“PFP Thrive is here to tackle the industry’s growing skills shortage, preparing the next generation of ambitious professionals who are fired up and ready to grow. Our brand-new Training Academy and provider will empower People, grow skills, and shape the future of the housing industry for generations to come.”
International company chooses Oberoi Business Hub for regional relocation
DSP, a specialist database, cloud and applications managed service provider, has chosen Oberoi Business Hub in Pride Park as its new regional office.
DSP, which also has UK offices in London and Leeds as well as bases in Dublin, USA and Canada, has relocated its sales and marketing function, and some of its technical function, to serviced offices at Oberoi Business Hub in Pride Park.
DSP head of business operations John Cronshaw explained: “We were previously based in leased offices in Nottingham but were looking for a new regional base to accommodate the growing number of employees who are returning to the workplace having previously worked remotely.
“Oberoi Business Hub is the ideal solution for our sales and marketing team which is a particularly collaborative function within our people-first culture as well as some of our technical delivery.
“It is easily accessible by road and rail and provides excellent facilities and office accommodation with flexible options for the future.”
Oberoi Business Hub manager Jodie Brady continued: “We are proud to have been able to respond quickly to DSP’s requirements and facilitate a smooth transition for the team – proving from day one that our goal is to take care of the details so that businesses can concentrate on their own operations.”
Founder and managing director Kavita Oberoi OBE concluded: “DSP’s relocation to Oberoi Business Hub reflects the growing requirements for businesses of all sizes to have high quality serviced office accommodation with a prestigious business address.”
763 new homes get green light at Top Wighay, Hucknall
Vistry Group, the provider of affordable mixed-tenure homes, has been given the green light to build 763 much-needed new homes at Top Wighay, Nottinghamshire with almost £6m committed to bolstering local services.
Situated approximately 2km north of Hucknall town centre and to the east of Annesley Road (A611), the £191m development, granted outline planning permission in April 2021, is part of Nottinghamshire County Council’s (NCC) flagship mixed-use scheme. The 86-acre site, contracted in 2023 with NCC and earmarked for development for more than a decade, will also include 21 acres of employment land, a local centre with retail offering and a new primary school.
The East Midlands Vistry team is poised to start work on the 763 two-, three-, and four-bedroom homes, maisonettes and apartments. Of the new homes, 269 will be much-needed affordable properties, 97 will be available through PRS providers and 397 will be on sale on the open market through Vistry’s Linden, Bovis and Countryside brands.
In addition to new housing, the development will also offer benefits to the wider community, with £4m earmarked for future investment and £6m designated to bolstering local services. This includes £436,000 towards healthcare, £4,750,000 for education and £800,000 for highways and bus improvements.
The benefits also include new parks, sports facilities, wildlife corridors, pedestrian and cycle routes, a new primary school, and an on-site Skills Academy in partnership with Chameleon School of Construction. This innovative training initiative will aim to encourage local people not in employment or training back into work.
Andy Reynolds, Managing Director of Vistry Group’s partnerships division in the South East Midlands, said: “We are delighted to have secured reserved matters planning consents which enable us to start work on these much-needed new family homes at Top Wighay. Over the past year we have consulted with the community to finalise the details of the scheme and ensure it meets local people’s needs.
“Our team cannot wait to start building a fantastic community of high-quality properties for people in the area to call home.”
Work is expected to start on site in spring 2025.
East Midlands business confidence sees September dip
Business confidence in the East Midlands fell 13 points during September to 39%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
However, companies in the East Midlands reported higher confidence in their own business prospects month-on-month, up seven points at 57%. When taken alongside their optimism in the economy, which dropped 31 points to 22%, this gives a headline confidence reading of 39% (vs. 52% in August).
Looking ahead to the next six months, businesses in the East Midlands identified their top target areas for growth as investing in their team, for example through investing in training (45%), evolving their offering, with the introduction of new products or services (42%) and entering new markets (36%).
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
National picture
Overall UK business confidence in September dipped slightly, to 47%, down from August’s 50%.
Though there was a marginal increase in their own trading prospects (up two points month-on-month to 54%), firms’ confidence in the overall economy dropped nine points to 38%.
The joint-most confident regions in the UK were the West Midlands and London, both reporting overall confidence of 59%. Only Northern Ireland, Wales, London, the South West and North West reported an increase in overall confidence.
Sector insights
Projections for output were mixed across the sectors, with some showing significant changes from previous results. In construction, the sharp increase last month was largely counteracted by a drop in expectations in September, falling by 12 points to 46%.
Similarly, in manufacturing, trading prospects fell for a second month to 53%, although this figure is still stronger than the year-on-year figure. However, the falls in manufacturing & construction sectors were more than offset by a small rise in retail and a bigger rise in the dominant service sector.
Dave Atkinson, Regional Director for the East Midlands at Lloyds Bank Commercial Banking, said: “Despite an overall dip in confidence, businesses’ optimism in their own prospects has rebounded, a promising sign of on-the-ground success.
“Coupled with a clear determination to hone in on particular areas for expansion – like staff training and diversification – these results paint a picture of quiet confidence in the region, in spite of wider economic challenges.
“And regional businesses’ focus on evolving their offering and entering new markets isn’t just theoretical, as a recent study by the East Midlands Chamber and Derby Business School found that the number of businesses that have made income from environmentally friendly goods and services increased by 7% in the last year.
“As even more businesses take this leap, Lloyds Bank will continue to offer on the personalised, on-the-ground support that they need.”
Fintech company to acquire Nottingham lender in $71m deal
Propel Holdings, the Canadian fintech company, has entered into a definitive agreement to acquire Stagemount, trading as QuidMarket, the Nottingham-based digital only consumer lender specialising in providing short-term installment loans.
The existing management team at QuidMarket will continue to operate the business on a go-forward basis.
The $71m deal is an important step in Propel’s global expansion strategy. Since its initial public offering in October 2021, Propel has continued to broaden its product and geographic offerings with the introduction of Fora Credit in Canada, Lending-as-a-Service partnerships in the US, and, most recently, an embedded lending partnership with KOHO in Canada.
QuidMarket has served UK consumers since 2011. A fully online, lending solution, QuidMarket is built on scalable and flexible technology that has originated over 310,000 loans in the UK since beginning operations in 2011.
Supported by Propel’s AI technology, financial and operational expertise, and capital resources, QuidMarket is expected to accelerate its growth.
“The acquisition of QuidMarket will accelerate Propel’s growth and is a critical step in our journey to becoming a global leader,” said Clive Kinross, Chief Executive Officer, Propel.
“When we went public three years ago, we set a goal to grow globally. As disciplined operators with a track record of profitable growth, this acquisition had to meet our strict acquisition criteria including a favourable operating jurisdiction, a strong cultural fit and to be financially accretive to our shareholders.
“QuidMarket serves a market of more than 20 million underserved consumers in the UK where the demand for credit far exceeds supply. Backed by Propel’s AI-powered technology, financial and operational expertise, and capital resources, we believe QuidMarket will be able to accelerate its growth while broadening access to credit for more underserved consumers.
“The QuidMarket team has demonstrated deep experience and a customer focus that sets them apart. United by a shared purpose, together we will build a new world of financial opportunity for consumers globally.”
The acquisition is expected to close in either Q4 2024 or in early Q1 2025.
