Dains expands national presence with fresh acquisition

Tess Egginton
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Dains expands national presence with fresh acquisition
Accountancy and advisory services provider to the SME market, Dains Group, has made its second acquisition since securing private equity backing from IK Partners. Barnes Roffe, one of the UK’s top 50 accounting firms, will join the Dains Group on 4th June 2025, significantly strengthening the client proposition in financial advisory, corporate tax, audit, and corporate finance. The Barnes Roffe team has over 29 partners and more than 200 employees in the London area. The acquisition, which is the largest yet by the Group, means Dains will now have established four key regional hubs across the UK and Ireland — in the South-East, Midlands, Scotland and Ireland — and are on target to become a top 20 firm by the end of 2025. Stephen Corner, senior partner at Barnes Roffe, said: “By partnering with Dains we are joining a firm with the same values and underlying service proposition we have been delivering to our clients for many years and together we will deliver a truly market leading proposition for our clients. “Becoming part of a national firm widens our service proposition and increases the range of specialist services we can deliver whilst at the same time greatly enhancing the career opportunities for our talented team. We look forward to significantly growing the Dains business in the South-East.” “We are thrilled to welcome Barnes Roffe to the Dains Group,” said Richard McNeilly, CEO of the Dains Group. “It’s not often we encounter such a dynamic and client-centric leadership team. Together, we see significant opportunities to grow our presence in the London area and expand across the UK and Ireland. “The addition of Barnes Roffe strengthens our national footprint and aligns perfectly with our strategy to deliver exceptional client service and outstanding career opportunities. “With a team now exceeding 1,000 professionals, we remain committed to enhancing the value we provide to clients and investing in the development of our talented people. “Our ambition is to work in partnership with clients, offering timely, thoughtful advice rooted in a deep understanding of their goals. This approach has underpinned Barnes Roffe’s impressive growth and makes them a natural strategic partner for our group.” Pete Wilson, partner at IK Partners, added: “This strategic acquisition demonstrates our ambition to continue building Dains into the leading UK & Ireland SME advisory business by establishing a strong presence, led by an outstanding team at Barnes Roffe, in London and the South-East. We look forward to continuing to back further acquisitions as part of this exciting partnership.” Dains were advised by CMS (Legal), Eight Advisory (Financial and Tax Due Diligence), Forward Corporate Finance (Financial Modelling), Deloitte (Tax Structuring), PDW (Customer Referencing), Cyber Crowd (IT Due Diligence), and Mercia (Technical Due Diligence). Barnes Roffe were advised by KPMG CF (Corporate Finance) and KPMG Legal (Legal).

Manufacturing contraction eases but headwinds persist

Tess Egginton
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Manufacturing contraction eases but headwinds persist

UK manufacturing activity contracted for the eighth consecutive month in May, but the pace of decline slowed slightly, according to the latest S&P Global Purchasing Managers’ Index (PMI). The index rose to 46.4 in May from 45.4 in April, indicating continued sector shrinkage below the neutral 50 threshold.

Firms reported falling output and new business as both domestic and overseas demand remained subdued. New orders declined for the eighth consecutive month, with clients reportedly hesitant to commit to spending amid higher employment-related costs and economic uncertainty.

The rise in the National Living Wage and increased employer National Insurance contributions, introduced in April, have added pressure to margins. The National Living Wage rose by 6.7% to £12.21 per hour, while employer NI contributions increased to 15% for salaries above £5,100.

Manufacturers also pointed to ongoing challenges with tariffs and freight costs, energy price volatility, and extended supplier lead times. Export demand weakened further due to continued global trade uncertainty and pricing pressures.

Despite these challenges, input price inflation eased to a five-month low, and some firms benefited from improved weather-related sales. However, the overall environment remains fragile, with limited signs of a near-term rebound.

East Midlands backs green tech innovation with first round of business grants

April Lara
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East Midlands backs green tech innovation with first round of business grants

The East Midlands Investment Zone (EMIZ) has completed its first year by awarding over £500,000 in funding to 15 pilot projects aimed at accelerating the commercialisation of low-emission technologies. The initiative is part of a £160 million, ten-year commitment from the UK Government to position the region as a national leader in innovation-led, clean growth.

These “fast start” projects pair businesses with academic researchers from the University of Nottingham, University of Derby, and Nottingham Trent University. The partnerships are focused on four strategic sectors: zero-emission propulsion, clean energy, green construction, and sustainable advanced manufacturing. These sectors were selected based on the East Midlands’ existing industrial strengths, research expertise, and relevance to emerging clean technology markets.

The grant programme has a broad regional footprint, with more than half of the funded businesses located outside of Nottingham and Derby. Projects include hydrogen fuel cell applications for rail transport, AI-enhanced digital twins for industrial maintenance, rail-based vibration energy harvesting, and lightweight power converters for electric propulsion systems.

Alongside the grants, sector-specific technology roadmaps are being developed to identify the region’s competitive advantages and shape future investments. Led by the University of Nottingham in collaboration with industry specialists, these roadmaps are expected to be published in summer 2025 and will help guide the allocation of subsequent EMIZ funding.

EMIZ operates under the East Midlands Combined County Authority and sits into a broader suite of regional growth initiatives, including the East Midlands Freeport and the upcoming Local Growth Plan. The programme combines direct financial support with incentives such as tax relief and business rate retention to encourage the development of commercially viable, net-zero-aligned technologies.

Custodian REIT secures regional portfolio in all-share deal

April Lara
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Custodian REIT secures regional portfolio in all-share deal

Custodian Property Income REIT has expanded its portfolio through the £22 million acquisition of Merlin Properties, a family-owned investment firm. The deal, completed entirely in shares, adds 28 regional assets valued at £19.4 million and approximately £2.7 million in residential stock.

The assets are primarily located in the East Midlands and comprise a mix of office, high-street retail, and retail park properties. The commercial portfolio, with an average asset value of £700,000, generates annual rental income of around £1.7 million. The residential units (newly built and not income-producing) are expected to be sold in the near term.

To complete the acquisition, Custodian issued 22.9 million new shares to Merlin shareholders, with a further 1.7 million shares to be issued once the final accounts are agreed. These shares will represent roughly 5.6% of Custodian’s enlarged share capital.

This transaction reflects Custodian’s strategy to scale via portfolio or corporate acquisitions, offering liquidity and tax efficiency to private property owners while consolidating regional assets under a listed structure. The move may serve as a model for future deals with family-owned property firms facing generational transitions or capital gains considerations.

Leicester accelerates regeneration with Waterside housing investment

April Lara
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Leicester accelerates regeneration with Waterside housing investment

Leicester City Council will retain a block of new-build apartments from the Waterside regeneration scheme to serve as temporary accommodation for homeless families. The eight two-bedroom flats, known as Lambert House, are part of the wider Waterside project, a £80 million-plus initiative being developed in partnership with Keepmoat Homes.

The mixed-use development comprises more than 350 homes, with over 200 already complete, alongside new public spaces on former industrial land adjacent to the Grand Union Canal. Additional phases are underway, with 34 homes on Soar Island scheduled for completion by year-end and 53 more properties to follow in the Canal Frontage phase by 2026. A separate specialist care facility, delivered by a third-party provider, is also expected to break ground later this year.

Four commercial units are planned within the scheme, positioning the project as a key component in Leicester’s strategy to revitalise disused industrial zones into liveable, mixed-use communities. The redevelopment has also included infrastructure upgrades, such as the refurbishment of the Soar Lane bridge, which improves connectivity across the site.

The council’s decision to allocate Lambert House for temporary accommodation supports its broader goal of delivering 1,500 new social or supported housing units by 2027, addressing the city’s rising levels of homelessness.

Rotherhill acquires Alfreton industrial investment

Tess Egginton
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Rotherhill acquires Alfreton industrial investment
Midlands-based property developer and asset manager, Rotherhill, in partnership with a long-standing private office joint venture partner, has acquired a 78,770 sq ft industrial investment split across two neighbouring buildings on a 5.96-acre site in Alfreton, Derbyshire. The property is fully let to TRT (Turbine Repair Technology) Limited, a joint venture between Rolls-Royce Plc and Chromalloy UK Ltd, on two coterminous leases running until 2033. With site coverage of just 25%, the asset offers strong underlying fundamentals and future potential. As part of the acquisition process, Rotherhill worked closely with both the vendor and the tenant to implement a comprehensive lease regear. The new lease structures consolidate occupation across the entire site, remove a break option in 2026, and introduce a clear upward-only rent review mechanism in 2028 alongside guaranteed annual stepped rental increases throughout the term. Clarity has also been introduced around the condition of the premises at lease expiry, ensuring a clean handover for all parties following the removal of TRT’s extensive plant and machinery. Ed Jeffrey, director of Rotherhill, said: “We are very pleased to have completed this purchase. We’ve worked hard with the seller and tenant to restructure the leases, unlocking value for all parties. “The property is well located, let at a discount to current market levels and benefits from guaranteed rental growth, making it an excellent addition to our asset management portfolio. “Our thanks go to Andrew Mellor of Penningtons Manches Cooper who undertook all legal work, Andy Price of AP Investment who provided investment agency advice, and Ned Jones and Harry Abell at Cushman & Wakefield who acted for the seller.” Andy Price, director, AP Investment, said: “In a continuing competitive industrial investment market, it was pleasing to complete the acquisition as it offers a strong underlying location, high yielding initial return, further guaranteed rental performance and long term future options.” Andrew Mellor, partner, Commercial Real Estate, added: “It’s been a pleasure working with the Rotherhill team and the other parties and advisers on this latest acquisition and re-gear of the occupations. The project has been challenging at times, but I’m delighted that it’s completed. This investment makes a great long-term addition to the Rotherhill portfolio.”

Geary’s Bakery unveils £36m Leicester factory

Tess Egginton
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Geary’s Bakery unveils £36m Leicester factory
Geary’s Bakery, the family-run business behind Jason’s Sourdough, has unveiled a new, £36m, custom-built bakery in Leicester. The third facility in its growing portfolio will double production capacity and create 380 new jobs. The expansion represents a significant step forward in the company’s ongoing growth strategy, with the new site set to boost total headcount to 950 by year end – nearly quadrupling the workforce in just four years. “This allows our business to move to the next chapter of our growth” said Jason Geary, fourth generation, master baker of Geary’s Bakery and Jason’s Sourdough. “The demand for Jason’s Sourdough and real artisanal bread continues to grow, and we are constantly inspired by how much people love our bread. “This new site enables us to get our products into more stores and in more homes – while staying true to the quality and craft that set us apart. “This new facility is a vital part of achieving our ambition to make proper bread more accessible to more people.” As appetite for sourdough and premium bread continues to rise, Jason’s Sourdough is now available in 4,000 stores nationwide. The brand has achieved 107% value growth in the past 12 months and now accounts for around half of the company’s turnover. The new bakery will ramp up in two phases, with phase one just opened and phase two coming on-board in September of this year.

Established funeral director expands with Swadlincote site

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Established funeral director expands with Swadlincote site
Rushton Hickman has let 65 High Street, Swadlincote to Marc Stephens Funeral Services, continuing the business’s expansion. The 1,930 sq ft property comprises a modern ground floor double-fronted retail unit located in High Street, Swadlincote. The premises have the added benefit of vehicular and pedestrian rear access from Civic Way. The new tenants are already well-established in their field and will bring a trusted name to the high street. Marc Stephens Funeral Services are a family run business and have been operating for over 20 years. Director, Marc Davidson, has been the driver in opening branches in Shelton Lock, Mackworth, Allenton and now his latest branch in Swadlincote. Taylor Millington, the agent responsible for the deal, said: “We are delighted to have found a trustworthy tenant for our client. It has been a pleasure dealing with Marc and helping expand his portfolio. The relationship we are building with him is brilliant and we hope to find more premises in the future.”

Loughborough College wins sustainability award for pioneering green education project

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Loughborough College wins sustainability award for pioneering green education project
Loughborough College has been named the winner of the Sustainability Project category at the Midlands Sustainability Excellence Awards 2025, held at Edgbaston Park Hotel. The award recognises the College’s ground breaking work through the East Midlands Institute of Technology (EMIoT), a trailblazing initiative dedicated to driving sustainability in education, infrastructure, and industry collaboration. The EMIoT, housed within Loughborough College, was honoured for its innovative approach to embedding sustainability into every aspect of its operations. The project was supported by a £9.6m DfE grant investment and is designed as a low-energy facility, featuring solar panels, advanced insulation, mechanical ventilation with heat recovery, and heat pump technology. These features all contribute significantly to the institution’s net zero ambitions. “We are incredibly proud to be recognised for our commitment to sustainable education,” said Dale Richardson, director of estates and sustainability at Loughborough College. “This award is a testament to the dedication of our staff, students, and industry partners who are working together to build a cleaner, greener future.” Key highlights of the EMIoT’s sustainability project include:
  • £6.5 million secured from the IoT Innovation Fund to support green skills development.
  • A curriculum driven by Environmental, Social, and Governance (ESG) principles.
  • Plans to train 2,000 students by 2027 in clean energy and digital sectors.
  • Strong partnerships with leading businesses in construction, energy, and manufacturing.
By creating inclusive, forward-thinking learning environments and fostering deep industry ties, Loughborough College is equipping the next generation with the green and digital skills necessary to address global climate challenges. With its vision set firmly on becoming the UK’s leading hub for green skills and sustainable technologies, Loughborough College’s EMIoT continues to pave the way for environmentally responsible education and industry transformation. The project design was developed by Race Cottam Associates and delivered on site by Lindum Construction. Lindum Construction manager, Mark Robertson said: “This award recognises the high level of commitment Loughborough College has to sustainable education and Lindum is proud to have been their chosen construction partner in creating their pioneering new Institute of Technology building. “We are pleased to have delivered the building which has a low energy demand, with highly efficient passive design features and building services systems. Technologies incorporated include mechanical ventilation with heat recovery and heat pumps for heating and hot water. These technologies, plus solar panels on the roof, are compatible with a net zero carbon future. “As a regional construction Company, Lindum continues to strive to improve its sustainability performance and we look forward to hopefully employing some of the highly skilled graduates that the EMIoT will produce in the future, helping to advance our understanding and practical appliance of greener technologies.” Carl Hubbard, director at sustainable MEP design consultancy CPW, added: “I am so pleased to see this project recognised. Loughborough College has been truly dedicated to creating a highly efficient, low carbon building – we are proud to have worked alongside them to support on the journey to a net zero carbon future, championing passive design features and a fabric-first approach.” The East Midlands Institute of Technology (EMIoT) is an innovative partnership between Loughborough College, Derby College Group, Loughborough University and the University of Derby.

Solar farm approved near M1 services in Northamptonshire

April Lara
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Solar farm approved near M1 services in Northamptonshire

A new solar development has been approved for an 18-acre site near the M1 Watford Gap services, positioning it close to key transport infrastructure and existing warehousing.

The site, located near the A5 corridor and adjacent to operational wind turbines, will host over 15,000 solar panels. Once operational, the array is expected to generate up to 6 megawatts of renewable electricity, sufficient to supply approximately 2,100 homes.

West Northamptonshire Council’s strategic planning committee approved the proposal without objections. The visual impact was deemed minimal due to the surrounding industrial landscape.

The site, previously used for livestock grazing, will continue to support sheep alongside the solar infrastructure, integrating renewable energy generation with agricultural use.

The project adds to the region’s growing portfolio of onshore renewable energy assets, contributing to the UK’s broader decarbonisation targets and domestic energy production.

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