Dow Schofield Watts expands Midlands corporate finance team

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Dow Schofield Watts expands Midlands corporate finance team

Dow Schofield Watts (DSW) has expanded its recently established Midlands corporate finance team with the appointment of a new associate director. Lucy Fairclough will be based at its new Leicester office at Gresham Works on Market Street.

Her appointment comes just weeks after the team was set up and brings the total number to four. Lucy who is originally from the Midlands, spent over 15 years with PwC and KPMG in London. At KPMG she provided advice to clients including INEOS Group, National Australia Bank and Macquarie Group. Whilst at PwC she worked on deals including PFI partnerships and initial public offerings on the UK stock exchange, and spent time on secondment to a regulatory body. More recently she has combined a career break with providing consultancy to a real estate developer and an online retail business.

Lucy will support the team in advising on deals including sales, management buyouts, acquisitions and equity and debt fundraising, working primarily with owner-managed and private equity-backed mid-market businesses.

DSW’s Midlands corporate finance team was set up in September by Harry Walker, Fahim Kassam and Daniel Chouciño who joined from FRP Corporate Finance and is currently based in Leicester and Nottingham, with plans to expand further within the region in the future.

Lucy said: “I’m delighted to have returned to the Midlands. It’s where I started my career and I’m looking forward to reconnecting with my network and being part of DSW in the region. Being able to work with the highly credible team of Harry, Fahim and Daniel was a key attraction together with the strength of the DSW Network and its extensive capabilities.”

Harry Walker added: “We are really pleased to welcome Lucy to the team. Her exceptional track record and complementary skillsets will further strengthen our offer to clients and our local presence. It’s been an exciting few months for us and we’re looking forward to continuing the growth of our team and offering in the near future.” 

Skills gap is stifling growth ambitions and leaving us at a standstill, say small firms

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Skills gap is stifling growth ambitions and leaving us at a standstill, say small firms
Small businesses planning to grow continue to face a deep-rooted and unyielding skills shortage, Federation of Small Businesses (FSB) research has found. The figures, taken from the business group’s latest Small Business Index (SBI) reveal that 22 per cent of small firms now identify the lack of skilled staff as a stumbling block for growth in the upcoming year. As digital technology continues to develop rapidly and businesses of all sizes feel the impact, 38 per cent of firms in the information and communication sectors report finding appropriately skilled staff as a barrier. This sector requires constant upskilling and amid a digital skills shortfall and vying with larger companies, small businesses find meeting their labour needs challenging. Similarly, with 45 per cent of construction sector businesses citing the skills gap as a significant hurdle, this poses a concern in light of the Government’s goal to build one million homes – a target small construction firms are essential to achieving. In other sectors, skills shortages were also an issue for:
  • 28% of manufacturing businesses
  • 23% in the professional, scientific, and technical activities sectors
  • 14% in wholesale and retail trade
Previous FSB research shows that 83 per cent of small businesses have provided an average of seven days training for each employee – underscoring their commitment to maintaining skills to prevent a workforce skills gap. To make it easier for small firms to upskill, FSB would like to see the Government:
  • Ensure all schools can provide GCSE and A-Level computer science or ICT courses.
  • Ensure skills bootcamps – used by 76% of small firms – continue to play an important role in helping increase the digital skills.
  • Continue to cover 95% of apprentice training costs for small businesses hiring apprentices, easing the upskilling process, and offering incentives for growth.
  • Make training in new skills tax deductible for the self-employed, allowing them to pivot into new areas of business.
FSB Policy and Advocacy Chair Tina McKenzie said: “Small businesses are eager to grow but many find themselves at a standstill, with skills shortages putting a brake on their ambitions. At a time where the economy needs it the most, firms are left hamstrung. “This impact is especially sharp in construction, where small housebuilders are instrumental. As we shift to the digital age, too, it’s essential to support the self-employed to branch out and upskill without being held back by the tax system. “One of the main things we hear from our members is how difficult it is to recruit at all skills levels, which is why we need to invest in lifelong learning. This cannot happen overnight but will unfold over time and needs supply-side reforms to make it work. “The future of our economy relies on skills. Unless we create pathways for small businesses to tap into a readily available talent pool, the economy is at risk. This is more than just patching over a hole in the ceiling – it’s about empowering a workforce that can propel the economy forward.”

Important milestone for Rolls-Royce’s UltraFan technology in Derby

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Important milestone for Rolls-Royce’s UltraFan technology in Derby
Rolls-Royce has successfully run its UltraFan technology demonstrator to maximum power at its facility in Derby. The initial stage of the test was conducted using 100% Sustainable Aviation Fuel (SAF).
This is an important milestone for the UltraFan demonstrator, which was successfully tested for the first time earlier this year. Since then, the UltraFan team has been gradually increasing the power as part of the rigorous testing regime and the demonstrator has performed in line with expectations. The results of the test will provide valuable learning and data, which Rolls-Royce teams will now take away and continue to analyse. Rolls-Royce says this achievement reinforces its confidence in the suite of technologies that has been developed as part of the UltraFan programme. Confirming this capability is a big step towards improving the efficiency of current and future aero-engines as UltraFan delivers a 10% efficiency improvement over the Trent XWB, which is already the world’s most efficient large aero-engine in service. In total that’s a 25% efficiency gain since the launch of the first Trent engine. UltraFan’s scalable technology from ~25,000-110,000lb thrust also offers the potential to power the new narrowbody and widebody aircraft anticipated in the 2030s. As part of the UltraFan development programme Rolls-Royce has identified a number of technologies that are potentially transferable to its current Trent engines, which will provide customers with greater availability, reliability and efficiency.
Tufan Erginbilgic, CEO, Rolls-Royce plc, said: “Hitting full power with our UltraFan demonstrator sends a strong message that Rolls-Royce is at the cutting-edge of innovation and technology, leading the way in the transition to more efficient and sustainable aviation. This fantastic milestone puts us in a strong position to support the plans of our customers as they develop the next generation of super-efficient aircraft.”
Simon Burr, Group Director of Engineering, Technology and Safety, Rolls-Royce plc, added: “We estimate that to reach Net Zero flying by 2050, a combination of highly-efficient, latest-generation gas turbines such as UltraFan operating on 100% SAF are likely to contribute around 80% of the total solution, which is why today’s announcement is such an important milestone for Rolls-Royce and the wider industry.”
The UltraFan demonstrator run to full power took place in the world’s largest and smartest indoor aero-engine testing facility – Testbed 80, in Derby. Testing the demonstrator is the culmination of many years work, which has been supported by the UK Government through the Aerospace Technology Institute (ATI), Innovate UK; the EU’s Clean Sky programmes plus LuFo and the State of Brandenburg in Germany. UltraFan has been a decade in the making, with the concept unveiled publicly in 2014.

61-home development set for Higham on the Hill

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61-home development set for Higham on the Hill
Owl Homes has gained full planning permission for a 61-home development in Leicestershire. The 6.39 acre site in Higham on the Hill consists of a mix of one, two, three and four bedroom homes, with 36 allocated for private sale and 25 designated as affordable homes. The site was acquired earlier this year as part of Owl Homes’ strategic growth drive. Dave Bradley, Managing Director of Owl Homes, said: “The acquisition of full planning permission for our Higham on the Hill development is an important milestone.” Construction is expected to start Spring 2024

Provider of contract services, plant hire and haulage services enters voluntary liquidation

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Provider of contract services, plant hire and haulage services enters voluntary liquidation
Lyndon Thomas, a provider of contract services, plant hire and haulage services to the construction industry, has entered voluntary liquidation. The Northamptonshire firm provided heavy earthmoving equipment and skilled operators, and specialised in bulk earthworks and major civil, infrastructure and utilities projects. According to reports from Construction Enquirer, the business’s issues were compounded by bad debts. The company, founded in 2000, recently hit headlines after one of its hired excavators was used to demolish an 18th Century pub, Crooked House, in the West Midlands. While the fire damaged venue had been given the go ahead by councillors to be made safe and debris removed, the digger, hired prior to the fire, was used to demolish the pub. The firm’s MD, Lyndon Thomas insisted the business has done nothing wrong, rather just hired out the equipment.

Duo raise more than £1,600 for local causes by conquering Three Peaks Challenge

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Duo raise more than £1,600 for local causes by conquering Three Peaks Challenge
The chance to conquer three peaks, covering a distance of 21 miles in just ten hours was the huge challenge facing two members of the team from luxury lifestyle store Bell of Northampton. Director Dave Richardson and Bathroom and Tile Manager, Parshin Pourmozafari took part in the challenge to help raise money for Cynthia Spencer Hospice and the Northampton Hope Centre as part of the Northampton store’s 125th anniversary. To date, the pair has raised more than £1,600 for the local causes which are close to the hearts of everyone at Bell. Dave said: “We have both spent time out in the Peak District so challenging ourselves to conquer the three peaks of Kinder Scout, Bleaklow, and Higher Shelf Stones was something we were both keen to do. “We went with a guide so there was just three of us and the views were absolutely incredible. “It was really intense, and the last few miles of the challenge were tough – physically and mentally. But we were thrilled to finish and raise so much for Cynthia Spencer Hospice and Northampton Hope Centre.” Parshin said: “It was really tough, but what kept us going was the incredible support we have both had from our friends, family, customers and suppliers who have all been so generous with their donations. “Thinking of them and the incredible work these charities do for our community really kept us going.” Throughout the year, the team at Bell has been taking part in a number of fundraising challenges as part of its 125th anniversary celebrations. So far, the team has raised more than £9,600.

Clay Cross town centre regeneration becomes a reality as green light granted

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Clay Cross town centre regeneration becomes a reality as green light granted
Clay Cross Town Board and North East Derbyshire District Council have reached a major milestone in their proposals for the Town Deal’s Town Centre Regeneration, as Planning consent was approved by the Planning Committee. The approval covers several key elements which are:
  • The creation of a new Town Square which will become a public space to be used for markets, seasonal events and as a public forum.
  • Food and beverage and leisure units – the route from Broadleys to the public square to be lined with artisan food companies, leisure operators and cafes and restaurants.
  • The pedestrianisation of Market Street, creating more public space for visitors.
  • Repurposing an existing historic building with the aim of providing a quality food and drink offering and leisure opportunities, directly overlooking the public square.
  • Improving connections through the town by re-opening access between Bridge Street and Market Street.
Further work is also being undertaken by the Town Board to explore the possibility of direct access to a car park via the A61. Clay Cross Town Board Chair, Lee Barnes said: “I’m overjoyed to see the town centre proposals approved. “It’s a milestone very personal to me, as a Clay Cross business owner, and someone who has spent a career in regenerating urban areas, so to be able to see the go-ahead for great improvements coming to a town that is local to me, has been a great privilege as Chair.” Clay Cross Town Board member and North East Derbyshire District Council Leader, Cllr Nigel Barker said: “Following months of hard work and collaboration between officers, members and partners, we’re delighted to see our efforts pay off to earn the approval of a really solid set of proposals that will bring Clay Cross’ town centre into an exciting new era for residents and businesses. “Clay Cross has not seen significant investment for many years and to be able to now deliver the news that this project will go ahead and put Clay Cross on the map, bring employment opportunities for our communities and having fantastic facilities and a centre for the town is really exciting. I am honoured to be able to deliver this for all of us.” Martin Kirkpatrick, Director of Buttress, who have been central to the design of the Masterplan, added: “This is good news. The development holds great promise in supporting the Clay Cross Town Board’s vision to provide a vibrant hub for both visitors and business opportunities. “The historic buildings within the Clay Cross conservation area, with this investment, are poised to become the heart of the town, offering a catalyst for new and exciting entrepreneurial prospects.” This decision follows a string of recent Town Deal milestones in recent months, such as launching the Low Carbon grants for businesses and the significant progress of developing the Clay Cross Active leisure facility, in what is set to be one of the most pioneering community assets in the region.

Green light for Grantham social housing scheme

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Green light for Grantham social housing scheme
New and affordable housing for Grantham has moved a step closer with the granting of planning permission for 21 new homes to be built for South Kesteven District Council (SKDC). The Larch Close project is part of SKDC’s housing strategy to build much needed homes across the district and will bring a mixture of one-bedroom flats and two to four-bedroom houses, each with their own parking and cycle storage. The site, owned by SKDC and on the town’s Earlesfield estate, was previously a play area subject to occasional anti-social behaviour. Replacement public open space planned for the north of the site is scheduled to be planted with wildflowers and native trees and would include a seating area with ornamental planting. Council Leader Cllr Richard Cleaver said: “South Kesteven District Council is committed to working with our partners to provide good quality affordable new homes that people want and need. “This development shows that we are moving forward with this in a sustainable way and it is part of series of important projects across the district which are now at various stages of delivery.” Planning permission was granted subject to a series of conditions relating to deadlines, archaeology, drainage, ecology and landscaping, plus the completion of a Section 106 agreement.

Council appoints NTU to help local businesses better understand Net Zero

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Council appoints NTU to help local businesses better understand Net Zero
Bolsover District Council has appointed Nottingham Trent University as the contractor to deliver its Hyper-Local Net Zero Innovation Programme (NZIP) and create a programme of support for Bolsover District-based businesses. As part of Bolsover District Council’s UK Shared Prosperity Fund (UKSPF) Investment Plan for Bolsover District, it is committed to helping develop businesses’ skills and understanding around Net Zero. To help deliver this commitment, the council appointed the academic partner who will provide activities such as:
  • A programme of monthly networking events, Net Zero boot camps, workshops, and seminars.
  • One-to-one support for businesses to develop and implement decarbonisation plans and projects.
  • Knowledge exchange activities between academic institutions and businesses to improve innovation and adoption of new technology.
  • Supporting engagement between businesses, industry bodies, other Net Zero initiatives and grant funding programmes to support innovation projects.
  • Supporting businesses to develop green skills and talent.
  • Providing access to academic research, expertise, labs, and equipment for testing new technologies, products and/or services.
Cabinet Member for Growth, Councillor John Ritchie said: “It is great news that we are able to carry out this project to help our local businesses have a better understanding of what is needed and required for us to achieve Net Zero. “Just having an understanding of what green energy is available can be a minefield, so if we can help break down any barriers and assist our businesses reduce their carbon footprint, then it has to be good for them and the environment in general. “I would urge our local businesses to keep an eye out for our events and workshops and get involved as much as they can so we can help you and ensure this programme has a positive impact.” The contract with Nottingham Trent University will last until 31 March 2025. This project is funded by the UK Government through the UK Shared Prosperity Fund.

Company appointed to carry out works at new Northampton cultural hub

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Company appointed to carry out works at new Northampton cultural hub
Chartered Building Contractor Steele and Bray Ltd, based in Northampton, have been appointed by West Northamptonshire Council (WNC) to carry out the second phase of improvement works to 24 Guildhall Road. NN Contemporary Art and West Northamptonshire Council are working in partnership to transform this historic building into a major new cultural centre in the heart of Northampton’s cultural quarter. The £4.7 million project will see the five-storey heritage building transformed into a vibrant creative community, with a contemporary art gallery, affordable creative studios and public space. Through extensive regeneration, the building is being brought to life to provide a gallery and artists spaces alongside cultural-commercial opportunities. The second phase of works started on site in October and consist of installing new heating and electrical systems, improvements to the expansive upper floors and detailed refurbishment to NNCA’s space. Cllr Daniel Lister, Cabinet Member for Economic Development, Town Centre Regeneration and Growth at WNC, said: “We are delighted to be working with local based contractors Steele and Bray to carry out the second phase of work to deliver this ambitious project. Once open, 24 Guildhall Road will offer a unique cultural hub in the heart of the Cultural Quarter in Northampton, complementing the ongoing redevelopment of this part of town. “Working in partnership with NN Contemporary Art and SEMLEP, we are able to combine our vision to regenerate this central building and offer a space for artists and entrepreneurs across our county and beyond. We look forward to continuing to offer local jobs as we enter into the second phase of redevelopment works, supporting our local economy.”
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