Further merger for fast-growing Streets Chartered Accountants
Lincoln’s Streets Chartered Accountants, a top 40 UK professional service firm, has established Streets Spenser Wilson Chartered Accountants.
The announcement follows the merger of the Halifax firm, Spenser Wilson with the fast-growing multi regional practice, Streets Chartered Accountants. This latest merger is one of more than five completed by Streets in the last six months and has seen the practice grow, now with more than 27 offices and fee income over £39 million.
When asked about the merger, Chris Yewdall, Partner at Spenser Wilson Chartered Accountants, said: “Myself and fellow Partners Andrea Kennedy, Liz Short and Sally Shacklock are delighted to announce our merger with Streets and excited about the future for our team and our clients as we move forwards as part of the wider Streets team.
“The firm was founded in 1919 and over the years has grown into one of the leading accountancy firms in the town and wider region thanks to our strong reputation and excellent partner led service.
“As with any business we cannot stand still and to move Spenser Wilson forward and provide our clients with a greater level of service we looked for some time to find a perfect partner to support us and one with whom we share mutual values.
“We chose Streets because of the shared philosophy of providing a valuable, personal, and partner led service for clients covering all areas of expertise. In addition, we wished to retain some independence and investment in the existing business, providing for the continued longevity of the practice for our clients, our team and the town of Halifax.
“Now that Spenser Wilson is part of a larger practice, we can confidently promise greater continuity of service to our clients and improved career prospects for our team, as well as our ability to attract new recruits.
“We also believe that our clients, existing and new, will benefit in that the combined firm will be able to offer a wider range of services, some of which we previously sourced externally.
“These include specialist corporate and private client tax planning, banking and finance, grants, R&D tax reliefs, international advice and personal financial planning. Being able to offer this breadth of service all under ‘one roof’ means we can provide greater value for our clients.
“The merger should enhance our position in Halifax and beyond Calderdale and into West Yorkshire and help to form a strong Northern presence within Streets coupled with the existing Wakefield, Hull, Preston and Burnley offices along with any other firms joining us in the future.”
Looking at what the merger means to Streets, the firm’s Managing Partner, Paul Tutin, said: “In line with our strategy to become a truly UK practice we are looking at and working with a number of firms looking to become part of Streets.
“The merger of Spenser Wilson Chartered Accountants & Business Advisers is the latest in line with our plans to expand our geographical coverage and provides us a stronger presence across Yorkshire, following the recent merger of the Wakefield practice of Andrew Wright & Co and our long-standing office in Hull.
“We are really looking forward to working with Chris, Liz, Andrea and Sally to grow the practice and to further establish it as a pre-eminent accountancy, business and tax advisory firm servicing the needs of businesses and individuals across Yorkshire.
“Looking ahead with a number of further mergers and acquisitions in the pipeline, which include a number of practices across the UK, we are on track to achieve our target revenue of £40m by the end of the year.
“The profession is going through significant consolidation with heightened levels of merger and acquisition. In contrast to many, our approach seeks to build on the success of merging firms, ensuring we retain and build on their winning approach – an approach we believe is particularly liked by many of those looking to exit routes, the challenge of growing their practice or facing increased competition and the need to widen their service offering.”
Streets Law, the firm’s dedicated corporate and commercial law offering led by Managing Director and Solicitor, Adam Aisthorpe, undertook the legal work on behalf of Streets for the merger, including drafting the sale and purchase agreement and dealing with the due diligence process in collaboration with internal colleagues in the tax and audit teams at Streets.
Vistry Group secures site to build 228 new homes in Sileby
Vistry Group, the provider of affordable mixed-tenure homes, has exchanged contracts on a 28.5-acre site on Barnards Drive in Sileby. The land, with a GDV of £63.2m, is being developed to build 228 family homes to help combat the need for housing in the area.
Situated just beyond Barnards Drive on the eastern edge of Sileby, the new development will be made up of both affordable and open market homes.
The new development will integrate with the Leicestershire community with a mix of one- bedroom maisonettes, and two-, three-, four-bedroom homes.
All the houses will be constructed using modern methods of construction, with timber frame panels produced at the local Vistry Works factory in Bardon, Leicestershire. This will improve the sustainability and speed of the construction process, as well as reducing disruption for the local community.
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 bringing much-needed mixed-tenure homes for the area demonstrating our commitment to delivering high-quality, affordable homes in a sustainable manner to enhance communities and meet the diverse housing needs in the area.
“We know that people from all walks of life will relish the opportunity to live in modern family homes and to be part of a vibrant and well-connected community here in Leicestershire.”
The site has outline planning permission with Reserved Matters before the end of the year with a view to starting work in 2025.
TUC Midlands joins supporters of Midlands Rail Hub
The TUC Midlands has joined supporters of the Midlands Rail Hub project, news that has been welcomed by Midlands Connect.
Maria Machancoses, CEO at Midlands Connect said: “It is fantastic news the TUC in the Midlands has signed up as a supporter of the Midlands Rail Hub. The Rail Hub is our flagship project at Midlands Connect and the support of the TUC is a welcome one. We know that their members in transport, health and other unions are closely aligned to the government’s missions and we hope they can see, like we do, the Rail Hub will help deliver on these.”
Rob Johnston, interim Regional Secretary at TUC Midlands said: “The Midlands Rail Hub is a vital infrastructure project for the Midlands. Delivery is vital if we are to maximise economic growth in our region and to drive the inclusive growth that will provide the good jobs and opportunities that we want for our communities.
“We look forward to working with Midlands Connect and all other regional stakeholders to make the case for the delivery of this vital project as quickly as possible.”
Delivered in full, the proposals would provide a massive uplift in capacity in the railway network in the Midlands, with up to 100 extra trains into Birmingham each day and many more services each day between our biggest cities in the West and East Midlands.
New analysis has shown that 12,750 new jobs are expected to become available thanks to the Midlands Rail Hub project. The Rail Hub is the region’s biggest rail improvement scheme and will serve more than 50 stations, covering 7 million people. Work is expected to run from 2025 until 2033 and will see the building of two ‘chords’ as well as further engineering interventions throughout the region.
Derby commercial vehicle service providers makes acquisition
Derby-based Motus Vehicle Solutions, commercial vehicle service providers and a part of Motus Group (UK), has acquired Aftercare Response, an autonomous division of the Bevan Group.
Aftercare Response is a nationwide provider of breakdown assistance, tail lift maintenance, and emergency repairs.
This acquisition marks the latest in Motus Vehicle Solutions’ ongoing expansion strategy, as the group continues to strengthen its portfolio of specialist services and extend its customer offering.
Peter Glover, Managing Director of Motus Vehicle Solutions, said: “We are delighted to welcome Aftercare Response into the Motus Vehicle Solutions family. Their expertise in rapid response services and customer support aligns perfectly with our mission to provide the best possible service to our customers.
“Our plan for Aftercare Response is to build on their position by further strengthening its operations and ensuring they benefit from the resources of the wider group. This acquisition not only broadens our service capabilities, but also ensures customers experience improved efficiency and reduced downtime across their fleets.”
Aftercare Response’s existing team and services will remain in place, ensuring continuity for customers, while benefiting from the enhanced resources and support of the Motus Vehicle Solutions group.
Clowes Developments promotes two to associate director
Clowes Developments has promoted two employees to associate director. Sarah Day and Rob Hopkinson have been working towards their promotion since they joined the business early in 2022.
Thomas Clowes, Managing Director of Clowes Developments commented on their achievements: “Developing our team and rewarding hard work with opportunities to progress is something we’ve always been proud of. The promotion of Sarah and Rob further reinforces our commitment to nurturing talent.
“From day one they’ve bought into our ethos and line up with our ambitions for the next few years, both in terms of ethic and personality.
“Sarah has brought a keen eye for quickly identifying opportunities and analysing market trends (along with an enviable phone book) whilst Rob has been the driving force behind addressing our infrastructure concerns in a prompt and cost-effective way. Two valuable members of the team I’m happy to see moving forward.”
In 2022 Sarah made the decision to diversify her existing experience in residential development to a wider-ranging and more commercial focus of Clowes. Supporting Robert Hepwood, land and planning director, Sarah joined the Group as a senior land manager. She has been focused on identifying new land opportunities and managing the existing portfolio by progressing planning permissions and maximising land receipts.
Sarah said: “Reflecting on Clowes’ remarkable achievements over the past few years, I am both proud and grateful to be part of a company that prioritises business advancement, staff development and the delivery of exceptional quality across the portfolio.
“As we look to the future, I recognise the ambitious targets that lie ahead. However, I am confident that, through our collective hard work and dedication, we will continue to affirm Clowes’ position as a major influence and a respected leader in the industry.”
Rob joined Clowes Developments in 2022, transitioning from a regional house builder to lead the Group’s technical function as technical manager. As an experienced civil engineer, Rob supports the Land & Planning team in acquiring new opportunities, advancing sites within the Group’s extensive portfolio and managing infrastructure delivery on active development sites.
Rob said: “The past two years have been incredibly rewarding, filled with opportunities for growth and learning and I would like to thank the team at Clowes for their support.
“It is refreshing to be part of a business where hard work and dedication is recognised, and I’m very proud to have taken this next step in my career. I look forward to contributing further to the Group’s growth and success in the future.”
With the support of Sarah and Rob, the Group has acquired two new sites within the last few months. Harrier Park and Pleasley Hill, both on the outskirts of Nottingham, will provide the Group with a total of 800,000 sq ft of commercial development opportunities, housing, convenience and leisure use facilities designed to enhance their respective surrounding areas with employment and improved amenities. Works have already begun to deliver both schemes; it is expected that both business parks will be operational by the end of 2025.
4Zero Marketing raises over £1,000 for Baby Loss Awareness Week
In support of Baby Loss Awareness Week, the 4Zero Marketing team recently took part in a 26-mile charity walk around Nottingham, successfully raising vital funds for Forever Stars, a charity dedicated to supporting families affected by baby loss.
This event united businesses and individuals, raising awareness and providing essential financial support for the charity’s bereavement services.
Baby Loss Awareness Week occurs every October, offering a time to remember babies lost during pregnancy or shortly after birth while raising awareness of the necessary support for grieving families. Charities like Forever Stars are instrumental in providing emotional support and bereavement services, including dedicated spaces within local hospitals.
The charity walk commenced at the Harrington Arms in Sawley, Nottingham, and journeyed past notable landmarks such as Attenborough Nature Reserve, Beeston Marina, Trent Bridge, City Ground, Meadow Lane, Holme Pierrepont, and concluded at the Boat and Horses back in Beeston.
4Zero Marketing joined other businesses and dedicated individuals in this important initiative to bolster the vital work of Forever Stars for bereaved families.
Jemma Taylor-Smith, Director of 4Zero Marketing, said: “Walking for Forever Stars allowed us to come together for a purpose that is truly meaningful. We were touched by the stories shared and feel grateful to have played a part in raising awareness and funds for such a vital service.”
Emily Miller, Director of 4Zero Marketing, added: “Participating in this walk was a deeply moving experience for our team. We are incredibly proud to support Forever Stars and contribute to the awareness and understanding of baby loss. It’s a cause that resonates with many, and we hope our efforts will help make a difference.”
Founded in 2014 by Richard and Michelle Daniels after the stillbirth of their daughter Emily, Forever Stars has worked tirelessly to provide bereavement suites in local hospitals, offering families much-needed care during their most challenging times.
Thanks to the generous support of donors, 4Zero Marketing raised over £1,000 for Forever Stars, aiding the charity in its ongoing efforts.
Donations are still being accepted via a Just Giving page.
East Midlands business confidence rises in October
Business confidence in the East Midlands rose 11 points during October to 50%, according to the latest Business Barometer from Lloyds.
Companies in the East Midlands reported higher confidence in their own business prospects month-on-month, up seven points at 64%. When taken alongside their optimism in the economy, up 13 points to 35%, this gives a headline confidence reading of 50% (vs. 39% in September).
Looking ahead to the next six months, businesses in the East Midlands identified their top target areas for growth as investing in their team, for example through training (50%), evolving their offering, for instance by introducing new products or services (31%) and entering new markets (30%).
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
National picture
Overall UK business confidence dipped slightly in October to 44% – down three points from September’s 47%.
This was driven by marginal falls in firms’ confidence about their own trading prospects (53% vs. 56% in September) and the economy (35% vs. 38% in September).
The North East of England was the most confident UK nation or region in October (63%), followed by London (56%) and the North West (53%).
Sector insights
Firms’ trading prospects pulled back for the third consecutive month in manufacturing to 46%, the lowest level since March. There were also moderate declines of 3 points in both retail and services to 51% and 57% respectively.
Expectations in construction bucked the trend, rising to 50%.
Dave Atkinson, Regional Director for the East Midlands at Lloyds, said: “It’s great to see East Midlands firms bucking the national trend with a rise in confidence, and particularly encouraging to see many businesses feeling optimistic when it comes to their own prospects.
“Firms will be working hard to translate this sentiment into further growth, and we’ll continue offer the support they need to help them meet their goals.”
Corby investor acquires refrigerated coldroom firm
Nene Capital, a Corby-based investor in small and medium-sized enterprises (SMEs), has acquired Cold Tech (Services), a refrigerated coldroom and cabinet maintenance firm.
This acquisition enhances Nene Capital’s portfolio with a company renowned for its bespoke solutions in food, retail, pharmaceutical, and logistics sectors.
Cold Tech (Services) Ltd. will continue under its established brand, ensuring uninterrupted service and trusted relationships. Nene Capital will support Cold Tech by investing in resources to expand its capabilities while maintaining quality and customer satisfaction.
Stephen Bayliss, Managing Director of Nene Capital, said: “We are thrilled to welcome Cold Tech (Services) Ltd. to our growing portfolio. This acquisition represents a significant step in our mission to invest in businesses that offer sustainable value and operational excellence.”
Simon Stringer, Finance Director of Nene Capital, said: “Cold Tech is a well-established business with over ten years of successful trading during which it has achieved a strong position in its market. We are excited to take the business into the next stage of its development.”
The transaction was supported by the corporate deal team at solicitors Howes Percival LLP and the Growth Finance team at Allica Bank.
117-home Woodthorpe development gets green light
Plans have been approved by Charnwood Borough Council to pave the way for a new 117-home housing development to be built in Woodthorpe.
Miller Homes, the housebuilder behind the scheme, is to build 117 new homes on a 14.4-acre parcel of land to the south of Terry Yardley Way in the village, including 35 homes to be provided as affordable housing.
The plans were approved by the council at its planning committee meeting on Thursday, 24 October, with construction work set to begin on the site of the new homes in early 2025.
Miller Homes East Midlands, whose regional offices are located at nearby Pride Park in Derby, will build a mix of two to five-bedroom homes for private sale in Woodthorpe, as well as a collection of one to four-bedroom affordable properties, at its development which is to be known as Meadowbrook Chase.
The developer will also provide a locally equipped area of play to the south of the development, which will include a variety of sustainable play equipment for children, such as swings, a see-saw and a multi-play structure.
Tom Roberts, operations director for Miller Homes East Midlands, said: “Our plans for this development in Woodthorpe have been carefully considered throughout all phases of the planning process, and so we’re naturally really pleased to have secured consent via Charnwood Borough Council for our proposed scheme.
“Woodthorpe has been identified as an area for residential growth within the local plan for the area, and we will now be able to deliver new career opportunities within the jobs market locally, as well as enhancements to local services and support for the community, through our 117-home development, to be known as Meadowbrook Chase.
“Miller Homes will be building 82 homes for private sale, alongside a further 35 affordable homes at this site, which will go some way towards achieving the council’s goals from its local plan and will deliver attractive new build housing for this area, with a strong mix of size and style of property to suit homebuyers looking to move to or within Woodthorpe.”
Many of the properties to be built by Miller Homes will feature bird or bat boxes to enhance and protect local wildlife, while the developer’s landscape strategy also provides areas to the north of the site earmarked for a planting buffer and an attenuation pond to support the drainage system at the site.
The first homes are due to be completed in Summer 2025.
Rail links could boost tourism economies in East Midlands hotspots
Improvements to the Castle Line rail corridor in the East Midlands would boost economic growth in tourism and hospitality sectors, according to the latest research.
The Castle Line is an important route linking multiple key destinations – Nottingham, a business and nightlife hotspot, renowned for the historic legend of Robin Hood, Lincoln, a historic cathedral-city, and Newark, a quaint market town.
Midlands Connect submitted plans to upgrade the route, to the Department for Transport last year. The proposals include increasing the line speed from predominantly 50mph to 75mph, with a long-term aim to double the frequency of services in the future.
A recent report titled ‘Tourism on Track’ explores how improved connections to the East Midlands would expand the visitor bases of these hotspots, shift the demographic groups attracted to the area and reduce car use.
Hamish Falconer, MP for Lincoln, said: “I wholeheartedly support Midlands Connect’s outline business case for funding to improve the Castle Line from Nottingham to Lincoln, allowing for faster and more frequent trains along the route.
“Lincoln has a lot to offer its visitors, with sites of major historic significance, as well as a bustling network of medieval streets, packed with quaint pubs and charming independent shops. But it is clear that the state of the city’s rail links has become a barrier to the city’s growth as a competitive tourist destination.
“Visitors are a major driver of our local economy, and by investing in the Castle Line rail upgrades – better connecting Lincoln to the wider Midlands and East Coast main line – we would support our tourism industry to flourish.
“Midlands Connect’s plans have my full support, and I hope to see the project progress.”
Tourism stakeholders in the East Midlands outlined concern that the current rail provision between Lincoln and Nottingham is presenting a challenge to the tourism and hospitality sectors in both cities.
The research found these sentiments were shared by rail customers who referenced issues such as slow, crowded and infrequent trains, affecting the appeal of using the trains for tourism.
Current timetable re-structuring is providing the opportunity to increase to two services an hour between Nottingham and Lincoln and these plans are also being considered.
Claire Ward, Mayor of the East Midlands, said: “Investing in the Castle Line rail corridor will be a significant step forward for the East Midlands’ visitor economy.
“By improving the speed and frequency of services between key destinations like Nottingham, Lincoln, and Newark, we will unlock new opportunities for tourism growth across the region.
“This investment would not only attract more visitors to our historic cities and market towns, boosting local businesses in hospitality and leisure, but also support sustainable travel options, reducing car use and enhancing the overall visitor experience.
“The East Midlands is rich in culture, history, and natural beauty, and better rail connections will ensure more people can enjoy everything we have to offer.”
