Mills & Reeve has advised on eight deals in the first half of the year, with a combined deal value of close to £200 million.
The Midlands corporate team has acted on a number of high-profile deals in the last six months, with 50% of transactions health-related and a quarter involving food and beverage companies. Half of deals in the first half of the year were cross-border, with one in four PE-backed.
Ryan Hawley, corporate partner at Mills & Reeve in the Midlands, said: “The first half of the year has demonstrated that when high quality businesses come to market, there is a real appetite to get deals done – from both trade and PE-backed buyers.
“Global and economic uncertainty has naturally created a more cautious deals environment, with greater focus on valuations and due diligence than ever before. However, certain sectors, such as health and care, manufacturing and construction, continue to attract the attention of both domestic and overseas buyers, as companies turn their attention towards strategic consolidation to drive growth and efficiencies.”
Significant regional deals in H1 include advising the shareholders of Ambala on its acquisition by Cake Box plc. This strategic £22 million deal marks a significant milestone in the food industry, bringing together two renowned brands to create a unique blend of traditional and contemporary delicacies. Mills & Reeve also acted on the sale of Unisurge International Ltd. – the manufacturer and supplier of Custom Procedure Packs (CPTs), disposable surgical products, surgical instruments and further OR products – to Lohmann & Rauscher Group. In addition, the team advised on sale of residential care and support provider Creative Care to specialist support service Consensus. Both companies support people with autism, learning difficulties and other complex needs, with Creative Care running 10 residential services across the East Midlands.
Junaid Haroon, corporate partner at Mills & Reeve in the Midlands, added: “The Midlands is a robust regional economy, with ambitious and high potential businesses at the heart of its success.
“Strategic growth is a clear priority from both a political and business perspective, with significant investment being committed to the region. By creating the right environment for future growth, the region will continue to attract investment from both domestic and international investors looking to scale at pace through M&A.”
Nottingham Building Society has achieved “strong financial results” in the six months ending 30 June 2025.
The Society has seen £535.1m in new lending, up from £525.7m in the same period of 2024, and £4.4bn in total mortgage assets, growing from £3.9bn.
The firm welcomed 4,076 new mortgage customers, a marginal increase from 4,069 last year, and saw a lift in total savings balance to £4.4bn, from £4bn.
£82.1m in interest was paid to savers, increasing from £71.5m.
Nottingham Building Society completed the first half of its financial year with a jump in profits, with £11m underlying profit before tax (2024: £9m), and £8m profit before tax (2024: £0.7m).
Sue Hayes, CEO, said: “We’re pleased to report a positive performance for the first half of 2025 as we consolidate the momentum built during a landmark 2024. Last year, we passed the £5bn asset milestone, delivered significant growth and recorded our highest-ever savings levels. Entering this year, our focus has been on building long-term resilience – ensuring the right foundations are in place for a sustainable future.
“Our strategy in 2025 is a deliberate one: to moderate lending growth while we implement new technology, strengthen our core banking systems and evolve our mortgage proposition to better serve customers who don’t fit the traditional mould. This transformation will enable us to grow with greater speed and agility in 2026 and beyond.
“We’ve made great strides already. We’ve launched a new mortgage platform in July, diversified our funding through a successful public Residential Mortgage-Backed Security (‘RMBS’) issuance and continued to innovate for the benefit of our broker partners and members. Our digital and branch savers have benefitted from strong rates, particularly through our ISA products, whilst we’ve continued to support members through every channel.
“We’ve also brought our new brand to life – publicly launched in October 2024 – with a positive increase in awareness and engagement. In May, we opened our first rebranded flagship branch in Nottingham City Centre, shaped by member and colleague feedback, with the response being overwhelmingly positive.
“As a mutual, community impact remains a priority. Through our partnerships with Emmanuel House, Shelter and ThinkForward, we’re helping tackle homelessness and improve access to opportunities for young people. We’ve also continued to advocate for the interests of our members, including on issues such as ISA reforms.
“While macroeconomic uncertainty and regulatory changes have added some external headwinds to the mortgage market, we remain focused on our transformation priorities. I’d like to thank our members for their continued loyalty and our colleagues for the passion and commitment they bring every day. Together, we’re building a stronger society for the future.”
Staffline, the Nottingham recruitment group, has hailed a “strong financial performance” for the six months ended 30 June 2025.
Revenue grew 8.7% to £485.8m, from £446.8m in the same period of 2024, which the company said was “supported by excellent new business momentum in the Period.”
Profit before tax, meanwhile, doubled to £0.6m from £0.3m.
The results follow the firm’s divestment of PeoplePlus, which completed in February, as Staffline transitions to a pure-play recruitment platform.
Albert Ellis, CEO of Staffline, said: “I am delighted that the Group has produced such a strong financial and operational performance in the first half of the year. Pleasingly, Staffline continues to secure new business and grow our market share despite the ongoing challenging macro-economic backdrop within the UK economy.
“Having now created a leading pure-play recruitment platform across both the blue and white-collar recruitment markets, following the divestment of PeoplePlus, we are ideally placed to continue to capitalise on a number of exciting new organic growth opportunities.”
A new wave of workplace volunteering is reshaping how the East Midlands business community is approaching productivity and employee wellbeing.
New research commissioned by national charity Royal Voluntary Service, found 62% of firms in the East Midlands now offer paid volunteering time to staff, with 28% introducing it in the last 12 months alone.
The data suggests this uplift in volunteering in East Midlands companies is being driven by a desire to tackle employee burnout (38%), engage staff (43%) and boost performance (24%), as well as to deliver social impact – 87% of businesses in the region agree volunteering is important to their company purpose and ESG goals.
1,000 UK companies were questioned for the study, with the findings published in a new report: Untapped impact: unlocking the 140 million hour opportunity.
The report also features new analysis by the Centre for Economics and Business Research (Cebr), which reveals that increasing participation in employee volunteering could also generate substantial financial gains.
Cebr’s analysis suggests the UK economy could stand to benefit from productivity gains worth £32.5 billion each year, or £5,239 per employee working in professional and managerial occupations – if workplace volunteering days were fully utilised.
The study stresses these productivity gains could be higher still, if the voluntary efforts of those in other job roles were also considered and if paid volunteering time was offered to more employees.
However, despite the momentum, across all regions, companies are not realising the full potential of their volunteering programmes. Employers offer an average of 2.3 days annually, but the study showed more than 140 million hours of gifted time went unused last year.
Additionally, not all employees are being given equal access to volunteering opportunities – less than one in five (19%) firms with programmes offer it to all their employees. On average, just half of employees receive the benefit.
Reasons businesses cited for not realising the potential of programmes included a lack of flexible one-off volunteering opportunities (28%) and team activities (17%), difficulty finding the right roles (21%), and not knowing where to start (12%).
In response, Royal Voluntary Service has unveiled a new Volunteering Marketplace – a suite of services designed to help businesses build, embed and optimise their volunteering and social impact activities.
Catherine Johnstone CBE, chief executive, Royal Voluntary Service, said: “Employee volunteering programmes are fast becoming one of the smartest investments a business can make. As our research shows, those who do it are seeing great results – from improved staff wellbeing and motivation to increased productivity.
“If just some of those 140 million lost volunteering hours were used it could be transformational in its effect. With our new Volunteering Marketplace we will help unlock that potential – making volunteering work for more businesses and their employees and enabling them to click and connect to the causes they care about.”
Chris Breen, head of economic insight at Cebr, added: “Business leaders and employees alike may wonder what’s in it for them when it comes to volunteering. Our research shows the answer is quite a lot. If every employee in a professional or managerial role offered volunteer days actually used them, it would have resulted in a £32.5 billion boost to UK productivity in 2024 alone.”
Knapton Wright has joined the sponsor line up for the East Midlands Bricks Awards 2025, backing the Most Active Agent category.
Knapton Wright is a marketing agency that works with brands that put people and the planet first. Whether you are aspiring to be better and do better, are already stuck into your sustainability journey but could be better at shouting about it, or need expert input on what step to take next, the team can support you with all of it.
From heritage projects to sustainable development and renewables, the Knapton Wright team loves getting stuck into creating marketing that demonstrates the awesome work you’re doing.
Alex Wright, Co-Founder and Managing Director of Knapton Wright, said: “As an agency that works with brands who put people and the planet first, sponsoring a category in the East Midlands Bricks Awards 2025 – which is working to regionally recognise a sector that is increasingly emphasising the importance of sustainability across the board – was a natural choice for us.
“Property and construction as a sector keeps the business world moving, often quite literally and provides essential expertise for businesses of all shapes and sizes. After years spent studying architecture and the built environment at The Bartlett, I’m always keen to support those doing great things in the industry.
“As a creative agency, we love people who make a difference, bring great energy and make stuff happen. And, having worked with a handful of agents over the past few years, we’ve seen firsthand the time, knowledge and effort that goes into being a trusted partner for businesses looking for premises. In a time when the economy is feeling the pinch, it’s fantastic to see commercial agents being creative, innovative and recognising that first-class service is essential to ongoing success.
“The team are looking forward to catching up with existing contacts and making new connections with the cream of the property and construction sectors at Trent Bridge in October, what a venue! It’ll be interesting to see which businesses are crowned category winners in what we know is a very competitive space.”
Guests network at the East Midlands Bricks Awards
The East Midlands Bricks Awards, which will take place on Thursday 2nd October at Nottingham’s famous Trent Bridge Cricket Ground, celebrates the successes of property and construction companies in Derbyshire, Nottinghamshire, Leicestershire, Lincolnshire, and Northamptonshire.
Recognising those behind the changing landscape of the East Midlands, the occasion highlights development projects, businesses, and people in commercial and public building across the region – from office, industrial and residential schemes, through to community projects such as leisure schemes and schools. It also toasts the work of architects, agencies, and those behind large schemes.
Nominating a company or project for the awards is a great way to showcase your successes, recognise your team’s efforts, bolster morale, and reach our audience of over 60,000 business readers, while also offering a chance to connect with respected professionals. It’s completely free to enter and making the top three finalists in your category also wins you free tickets to the event.
Alex Wright added: “Demonstrating what you can do and winning an award, or awards, for that, not only gives you the recognition you deserve, but is arguably the most impactful way to raise your business’s profile. People want to work with award-winning companies, and great people want to work for them, too. It’s not hard to see how effective awards can be when they’re included as part of your business development and recruitment activity.
“The real value of entering isn’t just about winning either; it’s about the insight the process offers. Preparing an entry forces you to pause, reflect on achievements, identify areas for improvement, and celebrate success. Even if you don’t walk away with a trophy, you gain insights, benchmarking against peers, and opportunities to raise your profile through PR, networking, and credibility.
“With nominations not closing until August 15th, businesses still have plenty of time to submit their applications. Our top tips? Use clear evidence and measurable results to back up your application. Show the judges what makes you stand out. Every word counts, use them wisely.”
To make a nomination for the 10th annual East Midlands Bricks Awards, please click here or on a category link below.
All finalists will have the chance to take home the Overall Winner award, which this year comes with a grand prize of a year of marketing/publicity worth £20,000, with the opportunity to split or gift the marketing to a charity of your choice.
Nominations will close on Friday 15th August.
New for this year, all entrants will also have the opportunity to be featured on our dedicated nominee showcase on the East Midlands Business Link website, providing space for marketing your achievements. Upon submitting a nomination, we will get in touch for any information, imagery, and video nominees would like to be featured on their showcase page.
The East Midlands Bricks Awards 2025
What: The East Midlands Bricks Awards 2025
When: Thursday 2nd October (4.30pm – 7.30pm)
Where: Derek Randall Suite,Trent Bridge Cricket Ground, Nottingham
Keynote speaker: Councillor Nadine Peatfield – Leader of Derby City Council, Cabinet Member for City Centre, Regeneration, Strategy and Policy, and Deputy Mayor of the East Midlands
Tickets: Available hereDress code: Standard business attire
Thanks to our sponsors:
UK businesses are grappling with a surge in financial distress, with the latest Begbies Traynor Red Flag alert indicating a significant increase in companies facing critical financial challenges. By the end of Q2 2025, 49,309 businesses were in “critical” distress—an increase of 21.4% from the previous year and 8.6% from Q1 2025.
Regions including London, the South East, and the Midlands were the hardest hit, while the North West recorded a high number of companies in distress, with over 69,500 businesses facing significant issues. The financial difficulties have extended across almost all sectors, with consumer-facing industries such as Bars & Restaurants, Travel & Tourism, and Retail seeing the most severe declines.
Despite a slight recovery in Q1, the second quarter of 2025 revealed a marked deterioration in the UK’s economic health, with sectors like Support Services and Construction experiencing a sharp increase in financial distress. The overall number of businesses in significant distress rose by 10.8% compared to last year, putting over 666,000 companies at risk.
The financial burden on businesses, particularly small and medium-sized firms, has been exacerbated by rising labour costs, including hikes in National Insurance contributions and the national minimum wage. These pressures are forcing many companies to explore cost-cutting measures or restructure to survive the ongoing economic turmoil. With no clear end to the current economic strain, many businesses are at risk of insolvency in the months ahead.
East Midlands Airport has been fined £892,500 after being found guilty of breaching environmental permits. The offences, which took place between 14 January and 4 February 2022, involved discharges of drainage water contaminated with de-icing fluid from aircraft and runways.
The Environment Agency reported that the airport’s surface water drainage system failed to meet required quality standards, leading to potential long-term damage to watercourses and overall water quality. These discharges, which violated the conditions set out in the airport’s environmental permit, raised concerns over the risk of water pollution in the area.
In response to the breaches, the airport has committed to significant improvements. Over £11 million has been invested in upgrading its drainage and water management systems. This includes the installation of advanced monitoring equipment, enhanced water treatment capabilities, and a new daily inspection and maintenance regime. The airport has also introduced measures such as using adapted sweepers to remove de-icing fluid before it enters the drainage system. These steps aim to ensure compliance with environmental standards and prevent future violations.
The Westerby Group has acquired Bristol-based pension specialist Cabot Trustees Limited. This brings its acquisitions in the financial sector to four since 2022.
Cabot Trustees Limited has been providing trusteeship and administration to members of its Self Invested Personal Pension Schemes (SIPP) for over 20 years.
The Westerby Group now has over £2 billion assets under administration and management. The deal also expands Westerby’s reach further across England, with offices now based in Bristol, Weymouth and Manchester, in addition to the group’s original two sites in Westerby’s home city of Leicester.
Stephen Harvey, group managing director of Westerby, said: “We’re delighted to welcome the staff and clients from Cabot Trustees Limited. This acquisition further strengthens our expertise in the financial services market. It also establishes us as uniquely positioned to work with individuals heading for retirement to ensure their financial planning is set up to maximise the potential of any assets.”
Nick Perris, founder and managing director of Cabot Trustees Limited, said: “By integrating Cabot’s portfolio into the Westerby brand, we’re confident that our valued clients will continue to receive the excellent service they have come to expect from us, with the added bonus of continuing their established relationships with the Cabot Trustees Limited team in Bristol.”
In April this year, the Westerby Group transformed its corporate structure into an Employment Ownership Trust (EOT) with chairman and founder Les McLintic transferring all the company’s ordinary voting shares into the trust. Its employees are now potential beneficiaries of any future profits.
Having negotiated and completed this latest acquisition for Westerby, Les McLintic is now pursuing further acquisitions with the objective of gaining greater market share within the financial services sector.
“We will be celebrating 40 years of successful trading with our Ruby Anniversary in January 2026,” adds Les McLintic. “This latest acquisition both reinforces and elevates our position as Independent Advisers and SIPP/SSAS Trustees and Administrators, ensuring that we continue to offer both current and new clients a fully comprehensive high level of service.”
Work to create two mental health units in Derbyshire has been completed by Phoenix Brickwork.
The specialist in brickwork, scaffolding and steel frame systems (SFS), delivered the full masonry package to the newly opened Derwent Unit, which is based at Chesterfield Royal Hospital in Chesterfield.
At the Carsington Unit, which sits in the grounds of Kingsway Hospital in Derby, Phoenix provided masonry and BMH Scaffolding supplied all the scaffolding requirements to support the new 54-bed facility.
Work was carried out for Integrated Health Projects (IHP) – an alliance between Sir Robert McApline and VINCI Building UK – and the combined package totalled £5m.
Christian Watson, group chairman at Phoenix Brickwork (UK) Ltd, said he was excited to deliver on these two mental health units in Derbyshire.
He said: “These momentous projects were carried as part of Derbyshire Healthcare NHS Foundation’s Trust’s £150m Making Room for Dignity programme.
“The Phoenix Group embraced the work at both developments, which ushers in a new era of care for people in Derbyshire with acute mental health needs.”
Inside Derby’s Carsington Unit, there are single rooms and en-suite accommodation across three wards. It will serve adults of working age, relocating from the Radbourne Unit at the Royal Derby Hospital site.
This development provides a rare investment and a unique opportunity to improve the county’s adult acute care facilities to benefit the people of Derbyshire, giving service users and staff an opportunity to shape the future of mental health facilities and environments.
Mark Powell, chief executive of Derbyshire Heathcare NHS Foundation Trust, said he was confident that the new development will enhance the services that are currently available.
These two developments are the second of six facilities to open as part of Derbyshire Healthcare NHS Foundations Trust’s £150m Making Room for Dignity programmes, which will eradicate the use of dormitory-style accommodation across the county’s mental health facilities.
Integrated Doorset Solutions (IDSL) Group has marked a year of significant growth following the first year of its partnership with LDC, part of Lloyds Banking Group.
Founded in 2016, Mansfield-based IDSL Group comprises three businesses. IDSL is a leading manufacturer of specialist performance doorsets, including fire and security doors, for use in hospitals, schools, student accommodation, commercial and high-end residential properties. Additionally, Fire Door Inspection Solutions (FDIS) and Hartland Fire both specialise in inspection, maintenance and replacement activities across the UK.
In the 12 months since the investment, the business has seen a 21% increase in turnover to £42.9m. This performance reflects a continued focus on operational improvement, investment in delivery and infrastructure, and financial discipline.
IDSL Group began the current year with a strong order book and has continued to build momentum. Headcount has also risen by 47% to 420 people, supporting capacity growth and rising customer demand.
Since LDC’s investment in May 2024, IDSL Group has strengthened its leadership team with the appointment of Adrian Ringrose as chair and Brian Talbot as a non-executive director. Andrew Gratton is also set to join in August as chief operating officer.
Adrian was previously chair of Churches Fire & Security, while Andrew joins from global manufacturer ams OSRAM. The business also completed the acquisition of Hartland Fire in November 2024, broadening its capabilities in passive fire upgrades within defence estates.
The Group is also in the process of expanding its manufacturing footprint and is on track to open a new site in Mansfield later this year to increase capacity and support future growth, and continues to invest in new technology and equipment to drive efficiency.
Alongside its financial performance, IDSL has made meaningful progress on its environmental, social and governance (ESG) agenda. It achieved ISO 14064 accreditation to establish a clear baseline for carbon measurement, introduced a new fleet emissions reduction programme and enhanced waste management processes in line with new national recycling legislation.
IDSL also maintained its FSC certification following a successful audit, demonstrating that the timber used in its products is responsibly sourced from well-managed forests, and expanded its community engagement through new partnerships with local education providers and grassroots sports teams, including an internship placement programme with West Notts College and support for the under-7s team at Ravenshead Reds FC.
Ash Malhan, founder and managing director of IDSL, said: “Our first year with LDC has been defined by real progress – financially, operationally and culturally. LDC’s support and financial backing has enabled us to accelerate our growth strategy, invest in talent and infrastructure, and make headway on our sustainability goals.
“The support and insight David and the team have provided has been invaluable, and we’re incredibly proud of what the team has achieved so far. We’re now focused on building from this foundation and continuing to scale in a way that’s sustainable, strategic and people-first, including considering more opportunities to acquire.”
David Bains, partner and head of LDC in the East Midlands and East of England, added: “IDSL’s performance over the past 12 months is testament to the strength of its management team, the quality of its product offering and its commitment to client service.
“The team has delivered impressive growth, extended its reach and taken meaningful steps to future-proof its operations. We’re excited to support Ash and the team as they continue to build a standout business in the sector.”
LDC invested in IDSL in May 2024 to support the company’s growth strategy, with a focus on operational scale, leadership development and strategic acquisitions.
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Knapton Wright is a marketing agency that works with brands that put people and the planet first. Whether you are aspiring to be better and do better, are already stuck into your sustainability journey but could be better at shouting about it, or need expert input on what step to take next, the team can support you with all of it.
From heritage projects to sustainable development and renewables, the Knapton Wright team loves getting stuck into creating marketing that demonstrates the awesome work you’re doing.
Alex Wright, Co-Founder and Managing Director of Knapton Wright, said: “As an agency that works with brands who put people and the planet first, sponsoring a category in the East Midlands Bricks Awards 2025 – which is working to regionally recognise a sector that is increasingly emphasising the importance of sustainability across the board – was a natural choice for us.
“Property and construction as a sector keeps the business world moving, often quite literally and provides essential expertise for businesses of all shapes and sizes. After years spent studying architecture and the built environment at The Bartlett, I’m always keen to support those doing great things in the industry.
“As a creative agency, we love people who make a difference, bring great energy and make stuff happen. And, having worked with a handful of agents over the past few years, we’ve seen firsthand the time, knowledge and effort that goes into being a trusted partner for businesses looking for premises. In a time when the economy is feeling the pinch, it’s fantastic to see commercial agents being creative, innovative and recognising that first-class service is essential to ongoing success.
“The team are looking forward to catching up with existing contacts and making new connections with the cream of the property and construction sectors at Trent Bridge in October, what a venue! It’ll be interesting to see which businesses are crowned category winners in what we know is a very competitive space.”
