Dow Schofield Watts’ corporate finance team expands again

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Dow Schofield Watts’ corporate finance team expands again

Dow Schofield Watts (DSW) has appointed an additional Partner in its expanding Midlands corporate finance team. Ryan Shields joins from Grant Thornton in Milton Keynes where he was an M&A Director.

Ryan is the fifth and final founding member to join the team, with his arrival having been delayed due to contractual commitments. He joins the existing Partners – Harry Walker and Shaf Bheda, together with Director Fahim Kassam and Associate Directors Daniel Chouciño and Lucy Fairclough, bringing the total number in the team to six.

Ryan will be focusing on building Dow Schofield Watts’ corporate finance presence in Milton Keynes and Northampton, an area where he has a strong track record.

He has spent his career at Grant Thornton, joining in 2012 and gaining his accountancy qualifications, then moving into the corporate finance team and rising through the ranks. Working with entrepreneurs, owner-managers, large corporates, management teams, and private equity he has advised on a wide range of transactions.

His sweet spot is selling privately owned businesses with a value between £10m to £50m with significant experience across the business support services (built environment and energy), industrials, and technology sectors.

“I have loved my years at Grant Thornton, but now is the time to move on and be part of building a new challenger boutique focusing on the mid-market where we all feel there is a distinct opportunity,” said Ryan.

“The DSW Corporate Finance team in the Midlands has made no secret of its plans to invest in expanding strategically to bring its signature Partner-led approach to Milton Keynes and Northampton. DSW has a highly regarded and recognised brand and corporate finance offering, which I’m thoroughly looking forward to playing a role in.”

Recent significant deals include advising private equity house Freshstream Investment Partners on their investment in Project Better Energy, the sale of Motor Parts Direct to South African listed Motus, the sale of Miers Construction Products to SIG PLC and the sale of Oysta Technology to The Access Group.

Harry Walker added: “Ryan is the last piece of the current jigsaw for DSW Corporate Finance in the Midlands. He is an established and highly regarded corporate finance operator, and his focus on Milton Keynes and Northamptonshire strengthens our geographical reach in the South Midlands and into the Central and East markets.

“On top of that, Ryan enhances our mid-market offering, being another partner with experience in delivering some of the region’s most significant private equity and owner-managed deals in recent years.

“We’re excited to have assembled a roster of dealmakers with over 60 years’ experience between them and are looking forward to building the business together with our clients and fellow Midlands professionals.”

Hopkins Solicitors expands their legal support into Derbyshire

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Hopkins Solicitors expands their legal support into Derbyshire
Hopkins Solicitors Ltd has announced the acquisition of Miles & Cash Solicitors. This strategic acquisition marks a significant milestone in the growth and expansion of Hopkins Solicitors Ltd’s footprint into Derbyshire’s legal community. By joining forces with Miles & Cash, Hopkins Solicitors Ltd strengthens its position as a provider of legal services, offering an expanded range of expertise and resources to Heanor’s local residents and small businesses. Miles & Cash’s Managing Partner, Chris Sedgwick, said: “Our search for a law firm to transform the business was easy, having known a number of the Hopkins staff personally, we knew they held the same values and high levels of quality service. “In addition, we knew that during their previous acquisitions of other local law firms they ensured that existing clients knew that the business was still there to support them, and that the employees felt secure and supported on their future career growth.” “We are excited about the opportunities that this acquisition presents for our clients and our team,” said Chris. “Joining Hopkins Solicitors Ltd allows us to continue providing the highest level of service to our clients while offering expanded resources and expertise across a wider spectrum of legal areas. We look forward to a seamless integration and continued success as part of the Hopkins Solicitors family.” Miles & Cash Solicitors has built a solid reputation for its expertise in Children and Care Law, serving a diverse client base with integrity and professionalism. This team including solicitors Chris Sedgwick (Partner) and Lucy Fisher (Associate) have stayed onboard further expanding Hopkins’ already extensive and reputable Children Law and Care Team. Martyn Knox, Managing Director of Hopkins Solicitors, said: “We look forward to getting to know and support the members of Heanor’s local community, both as clients and as future employees. We believe that our local expertise and our honest commitment to high standards is what allows us to provide a personal approach to our clients, and truly make a difference in improving people’s lives.” In March 2024 interior and exterior renovations began on the existing Miles & Cash office which is located in Heanor’s town centre just north of Derby, between Ripley and Ilkeston. Once complete, the office will be expanding and housing at least 8 solicitors offering a full range of legal support services including private family law, children & care law, residential conveyancing, wills & probate, civil litigation, personal injury & medical negligence, employment law, company commercial and commercial property law. The acquisition of Miles & Cash Solicitors underscores Hopkins Solicitors Ltd’s commitment to growth, innovation, and delivering exceptional results for its clients.

Work starts on new Towcester special school

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Work starts on new Towcester special school
Construction works have started on the development of a new special school located in Towcester which will provide much-needed places for children and young people with special educational needs and/or disabilities (SEND). Construction firm Wilmott Dixon are underway with the development of the new school, called Tiffield Academy, which is set to open in autumn 2025 and will cater for children and young people between the ages of four to 18 with autistic spectrum conditions (ASC), speech, language and communication needs (SLCN), as well as those with severe learning difficulties (SLD). The school will be designed to physically accommodate 250 pupils, although it will operate to an admissions number of 230, with the remaining 20 places expected to be filled through emergency placements or other extenuating factors. Commemorating the occasion with a ground-breaking ceremony, stakeholders came together to mark the start of the project, which will take shape over the next 18 months. Cllr Fiona Baker, Cabinet Member for Children, Families, Education and Skills at West Northamptonshire Council (WNC) was joined by representatives Wilmott Dixon who are delivering the project and Greenwood Academies Trust who will be responsible for running the new school. This work follows planning approval in January this year for a three-storey building that is specially designed to create an environment for children to learn, grow and thrive. The school will have general and practical teaching spaces, a lift providing access to the upper floor, with each key stage next to a calm room, intervention room and a group room. There will be two halls proposed to provide physical activities, music, drama and assembly spaces. The Early Years phase will be co-located with need specific sensory rooms and separate dining spaces for primary and secondary pupils. Cllr Fiona Baker, Cabinet Member for Children, Families, Education, said: “It is positive to see work underway at the Tiffield site in preparation for opening in Autumn 2025 as we know these additional spaces are very much needed and will make a significant difference to the children and young people who will attend the school, as well as their families. This school will provide an engaging environment and excellent teaching and learning facilities to help our students learn, develop and connect. “This is a step forward and is part of our wider programme of creating 600 new specialist places locally as we continue to see a high demand for SEND places to meet the needs of our children and young people. “We know this is not a solution for all and that there remain challenges with demand in other areas. We are working hard to provide support in all areas across our SEND offer and are working with schools and learning providers to embed a graduated response to ensure children’s needs are identified as early as possible and met in the best way. We are also reviewing the needs of all children to understand if and when additional specialist provision is needed.” Spokesperson for Wilmot Dixon said: “We would like to thank West Northamptonshire Council for providing us with the opportunity to be a part of this new prestigious SEND project. As a result of the collaborative approach between each stakeholder, we are well underway to delivering this exciting new facility. Our goal is to assist West Northamptonshire council and the Greenwood Academy Trust in creating a positive legacy for the trust and the wider community for many years to come.”

Vistry Group completes deal to deliver 133 affordable homes for Rushden

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Vistry Group completes deal to deliver 133 affordable homes for Rushden

Vistry Group, the provider of affordable mixed-tenure homes, has sealed a £34 million deal to bring 133 affordable family homes to Rushden in partnership with Platform Housing Group.

The site, which was formerly owned by Co-op, benefits from full planning permission and work is expected to start in summer 2024. This new development will consist of one-, two-, three-, and four-bedroom houses and maisonettes, including air source heat pumps to reduce carbon emission, with thoughtfully designed green spaces to create a new area which will integrate well with the local community. As well as new homes, the development will also mean more than £700,000 of investment in services to benefit the whole community. All the homes will be manufactured off site using open panel timber frames from the Vistry Works East Midlands factory in Bardon. Building homes using this modern method of construction (MMC) reduces the carbon footprint of every property. Each home built using these panels emits 14,460kg CO2e less than a traditional brick-and-block house. Andy Reynolds, managing director of Vistry South East Midlands, said: “We are thrilled to be working with Platform Housing Group on this 100% affordable development which will not only meet the housing needs of the community but create beautiful green spaces which blend with the local environment. “We’re excited to be a part of Northampton’s growth and to be entrusted with the build of these much-needed new homes which will contribute to the unique character of the area as well as releasing over £700,000 of investment in local services to create a thriving and sustainable community.” Ann Taylor, director at Savills, acting on behalf of Co-op, said: “We are delighted to see this site complete and come forwards for development. The land has been vacant for a long time, therefore the new homes, the significant S106 contributions into the wider community, and the associated new jobs are all a welcome benefit of development. It is exciting to finally see this scheme become a reality.” Michael Baggett, director of land and partnerships at Platform Housing Group, added: “Strong partnerships that truly work for all parties will be the key to unlocking opportunities and delivering affordable housing at scale. At Platform we are determined to keep building homes and working with Vistry we are proud to be offering so many people the chance to have a place they can call home.” The parties’ professional advisors were Rachel Saint of Paris Smith acting for Co-op, Patrick Aide of Freeths acting for Vistry Group and Gabor Taller acting for Platform Housing Group.

Fluid Ideas creates drive-in Derby studio to rival London and Manchester

Michael Fisher
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Fluid Ideas creates drive-in Derby studio to rival London and Manchester
Creative agency Fluid Ideas has unveiled the latest phase of its expansion – a drive-in studio for filming, photography, recording and events. The studio, called Flux, features an infinity cove, a fully-functional kitchen set and an audio booth for recording voiceovers and podcasts. Fluid has invested a six-figure sum to transform a 1,300sq ft building next to its headquarters in a former cotton mill at Darley Abbey Mills, a World Heritage Site on the outskirts of Derby. Jamie Hovell, an associate partner at Fluid, said the new multipurpose facility – in the old Engine House – gives the Midlands a genuine alternative to Manchester and London for filming, photoshoots and recordings. “The combination of the drive-in feature, the infinity cove with overhead lighting rig and the kitchen set means we have a distinctive and really versatile space which our team will utilise for client projects,” he said. “In just 10 weeks, we’ve transformed a vacant and unloved industrial building to create a real point of difference for Fluid and the region, and one which we are confident will appeal to our clients and the wider creative community. “It’s a spacious open studio with plenty of space for lighting and cameras. The infinity cove is brightly lit and curves into the floor, so there are no corners or shadows. It can easily be repainted according to the colour needs of each client. “We’d been scoping out places to create a facility of this kind for some time, and visited a number of potential sites before the Engine House became available. It’s the perfect location, and seeing the new space we had envisioned for so long transformed from a blank canvas and spring into life over the weeks has been a real joy.” Jamie added: “We see Flux becoming a hub in the Midlands. Until now, people have had to travel to Manchester or London for such a facility. “Now there is somewhere closer to home which businesses, art directors, marketing teams and other agencies can hire for their own projects. It can also be used for off-site meetings, product launches, get-togethers and workshops.”

Rolls-Royce to invest in Derby

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Rolls-Royce to invest in Derby
Rolls-Royce is investing in its assembly, test and shop visit capacity in Derby and Dahlewitz, Germany to address growing long-term demand for new civil large engines and improve customer aftermarket support services for its global Trent fleet.
As outlined at last year’s Capital Markets Day, Rolls-Royce expects an annual increase of 7 – 9% of Rolls-Royce powered aircraft in service for the remainder of the decade and forecasts engine flying hours to reach 120 – 130% mid-term compared to 2019 levels. To prepare for this growth, Rolls-Royce is investing £55m and recruiting more than 300 front-line operations roles, split between its operations in Derby and Dahlewitz. About half of the investment and about two thirds of the jobs will be created in Derby. The investments include expansion of engine build capacity in Derby to deliver over 40% more new engines per year from 2025 – compared with average deliveries over the last 10 years – and increase of services capacity. These investments follow last month’s announcement to invest £1bn in a continuous improvement programme for the Trent engine family. Rob Watson, President – Civil Aerospace, Rolls-Royce, said: “These latest investment in our engine build and services capacity is further proof of our commitment to deliver both excellent products and services to our global customer base. We are ready to support our continued growth in the widebody market – delivering even greater availability, reliability, and efficiency.”

Space firm behind ‘shoebox-sized laboratory’ comes to Leicester

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Space firm behind ‘shoebox-sized laboratory’ comes to Leicester
The creators of a shoebox-sized laboratory which enables experiments to be carried out in space are now working with Space Park Leicester. Frontier Space Technologies’ SpaceLab is designed to host numerous experiments in microgravity and the firm aims to launch its first on-orbit demonstrations next year. The technology will make space research and development far more accessible and affordable to industry and the firm’s logistics and technology innovation will cut the time it takes businesses to get their research into space from around five years to as little as a month for Frontier Space Technologies’ repeat customers. This has huge potential for a variety of sectors, including the pharmaceutical and manufacturing industries, as they will not have to wait as long to see a potential return on their investment into space research. Frontier Space Technologies has also become the latest company to be accepted on the European Space Agency – Business Incubation Centre for the United Kingdom (ESA-BIC UK) programme at Space Park Leicester, the University of Leicester’s pioneering £100 million science and innovation park. Frontier Space Technologies Co-founder and Chief Technology Officer Mateusz Zalasiewicz said: “The market we’re targeting is rapidly growing – space has only recently turned commercial, and commercial space biotech has huge potential for human therapeutic innovation, so this is an exciting time for us. “The advice and support we receive from ESA-BIC was one of the big draws of the programme; we’ve already attended very useful events and we’re keen to start using all the technical support available to us. “We’re delighted to join the eco-system at Space Park Leicester. Leicester is the perfect place for us because it has a growing space economy and there are a lot of life sciences and pharmaceutical companies in the city.” Carrying out experiments in space is attractive to business because of its microgravity. Mateusz explained: “If you want to research or manufacture new medicines you often use protein crystals during the process. “On Earth, if you try to make large crystals they tend to be imperfect due to gravity gradients causing sedimentation. The crystals you get in microgravity tend to be much larger and much purer, and that’s a major research benefit. “It’s the same for other industries – if you want to manufacture semi-conductors crystal of an extremely high purity you can do that in microgravity to a better degree. “It really depends on the industry, and what you’re trying to do, but in general the absence of gravity, and also access to space background radiation for certain things, is extremely useful and you can’t really replicate that on Earth.” Fellow Co-founder and CEO Dr Aqeel Shamsul added: “Lots of businesses aren’t aware you can do this in space or they think it’s going to be expensive. The paradigm shift is that this is all becoming much more accessible now and access to this unique environment can significantly improve products and processes here on Earth.” Vinay Patel, Head of Commercial and Innovation at Space Park Leicester, said: “Frontier Space Technologies is playing a vital role in opening up space experimentation to industry. “We’re very excited about the work they’re doing and are thrilled they’ve joined us in Leicester.”

East Midlands manufacturers see mixed start of the year

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East Midlands manufacturers see mixed start of the year

East Midlands manufacturers are seeing a mixed picture as they start the year but confidence is remaining robust despite the UK economy remaining weak overall.

However, Make UK is forecasting growth for manufacturing of just 0.1% in 2024 and 0.8% in 2025 which is weaker growth than the economy overall.

The findings come in the Q4 Manufacturing Outlook survey published by Make UK and business advisory firm BDO. According to the survey, output in the East Midlands was negative in the first few months of the year. However, looking forward both output and orders are set to pick up substantially in the second quarter of the year with orders in the next three months especially strong.

This positive picture is reflected in strong recruitment by firms and a jump in investment intentions to the highest level of any English region, which may be due to the full expensing policy announced by the Chancellor in the Autumn Statement. 

Chris Corkan, Region Director for the Midlands at Make UK, said: “After the economic and political shocks of the last few years there is now strong confidence among manufacturers in the East Midlands, despite the mixed picture. While growth in the economy is not exactly supercharged, the positive announcements in the Autumn Statement and Budget can at least allow them to plan with more certainty for the future.”

Jonathan Lanes, Head of Manufacturing at BDO in the Midlands, added: “Manufacturers in the East Midlands have continued to show their ability to overcome wave after wave of challenges, but they cannot continue to do this indefinitely without some more long-term support from the Government.

“Despite the challenges faced across the region, demand for labour remains strong with investment intentions higher than in any other English region. That said, the next few months will be critical to the sector within the East Midlands.” 

Administrators appointed to Robinsons Caravans group companies

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Administrators appointed to Robinsons Caravans group companies

Ryan Grant and Chris Pole from Interpath Advisory were appointed joint administrators to Golden Castle Caravans Limited and Robinsons Caravans Limited on 11 March 2024 and 14 March 2024.

Both companies are part of the Robinsons Caravans group which retails caravans and motorhomes from dealerships located across the Midlands and the South West.

Based in Twigworth, Gloucester, Golden Castle Caravans Limited sells new and used caravans and motorhomes, including from some of the UK’s leading manufacturers.

Robinsons Caravans Limited sells new and used caravans and motorhomes from two sites in Chesterfield, Derbyshire, and Worksop, Nottinghamshire.

While certain companies across the Robinsons Caravans group have been historically profitable, others have experienced lower than expected sales volumes in the wake of the cost-of-living crisis and pressure on household disposable incomes. This in turn served to place financial pressure on the wider group, which in recent times had become increasingly unsustainable.

As a result of these mounting pressures, the directors sought to undertake a review of their investment, refinance and sale options. When it became clear that a solvent solution could not be found, they took the decision to seek the appointment of administrators.

Immediately following their appointment, the joint administrators sold the business and assets of Golden Castle Caravans Limited to Gloucestershire Leisure Limited, a connected party by virtue of one of the directors. Seventeen members of staff have transferred to the purchaser as part of the transaction.

Separately, following their appointment to Robinsons Caravans Limited, the joint administrators sold certain of the business and its assets to a Storebon Holdings Limited, part of the Couplands Caravans group. Nine members of staff based at the Robinsons Caravans site in Worksop have transferred to the purchaser as part of the transaction.

The Robinsons Caravans site in Chesterfield, however, is not included in the transaction and as a result, will close with immediate effect. Consequently, 16 members of staff have been made redundant. The joint administrators will be providing support to all those impacted by redundancy, including assisting with claims to the Redundancy Payments Service.

Ryan Grant, managing director at Interpath Advisory and joint administrator, said: “These have been testing times for many businesses across the leisure sector as a result of high cost inflation and fragile consumer confidence. We are pleased to have secured these two transactions which safeguard the future of Golden Castle Caravans and the Robinsons Caravans operations in Worksop.”

Leicester College re-opens Advanced Manufacturing and Engineering facilities following multi-million investment

Michael Fisher
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Leicester College re-opens Advanced Manufacturing and Engineering facilities following multi-million investment
Leicester College will formally open its Advanced Manufacturing and Engineering facilities at the Abbey Park campus following an exciting multi-million-pound investment in resources, equipment and teaching spaces. This will enable the College to provide industry standard technical training to students and employers across the region. Leicester College is one of the largest providers of advanced manufacturing and engineering education in Leicester and Leicestershire. The project was supported by capital funding via the T Level capital fund. The upgraded facilities will improve the practical and technical experience for existing and future students, studying for T Level qualifications in Design and Development for Engineering and Manufacturing (Electrical, Electronic and Mechanical Engineering) and Maintenance, Installation and Repair for Engineering and Manufacturing, together with a range of other programmes, including new Higher Technical Qualifications (HTQs) in Engineering. They will also enable the College to continue to support regional employers to develop the skills and knowledge needed to develop the engineering workforce of the future. Verity Hancock, Principal of Leicester College, said: “I’m so excited about this huge refurbishment. Our hard-working engineering students and staff deserve the superb facilities and equipment that have been developed. The College is grateful to the Department for Education for their investment and to everyone – designers, architects and builders – who have made this happen.”
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