Friday, August 1, 2025

Boss hands over financial services firm to staff in Employee Ownership Trust

Tess Egginton
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0
Boss hands over financial services firm to staff in Employee Ownership Trust
The chairman and founder of the Leicester-based Westerby Group, Les McLintic, has transferred the company to an Employment Ownership Trust (EOT). The Westerby Group’s employees are now potential beneficiaries of any future profits the company makes. To achieve this, all the ordinary voting shares in the company, of which Les McLintic owned the controlling interest, have been transferred into the trust. Founded in 1986 with just three employees, the Westerby Group is today comprised of three businesses. Westerby Investment Management Limited is based in Andover Street in Leicester city centre. Westerby Trustee Services Limited and Westerby Pension Administration Limited operate from The Crescent, King Street. The Group also has offices in Weymouth and Manchester, with a total workforce of over 100 people. Westerby Investment Management Ltd is a provider of specialist financial, taxation and independent investment advice. Established in 1996, Westerby Trustees Services Ltd are experts in the trusteeship and administration of Self Invested Personal Pension Schemes (SIPP), whilst Westerby Pension Administration Ltd specialises in the trusteeship and administration of Small Self-Administered Schemes (SSAS). “The time is right for me to transfer my shares for the benefit of our very dedicated, enthusiastic and hard-working employees,” said Les McLintic. “We have thrived through the many challenges over the past four decades to become the flourishing, successful business we are today. I firmly believe that my decision to give our staff this meaningful stake in the future of Westerby is the best way to build on our legacy of success in future decades.”

Wise reports strong customer growth and £1.4bn income forecast

April Lara
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0
Wise reports strong customer growth and £1.4bn income forecast

Wise, the UK-based fintech known for international money transfers, has forecast solid growth for its current financial year, driven by a sharp increase in customer numbers and revenue.

The company expects a 21% rise in active customers, reaching 15 million globally, and projects underlying income to grow by 16% to £1.4 billion. However, it anticipates a one percentage point decline in profit margin.

Wise is targeting underlying income growth of 15–20% for the 2026 financial year, with pre-tax profit margins expected to hit the higher end of its guidance range.

In its most recent quarterly update, cross-border transaction volumes climbed 24% year-on-year to £37.8 billion, while card and other revenue surged 39% due to greater product adoption.

To protect shareholders from dilution, Wise plans to reduce the share purchases by its Employee Benefit Trust, addressing legacy stock-based compensation equivalent to roughly 25 million shares.

The company has also reaffirmed its reclassification under the FCA’s overhauled UK listing regime, officially shifting to the Equity Shares Category as of July 2024.

Double win for Rykneld Homes at regional awards ceremony

Tess Egginton
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0
Double win for Rykneld Homes at regional awards ceremony
Rykneld Homes has won two awards at this year’s Efficiency East Midlands Building Communities Awards. The annual regional awards ceremony, now in its ninth year, is renowned for recognising and celebrating professionalism, excellence, and innovation within the housing and construction community. The team faced strong competition with a 40% increase of submissions compared to last year. The Community Involvement Team’s delivery of a Duke of Edinburgh scheme saw Rykneld named winners of the Best use of an EEM Charitable Donation Award for the second year running. And Rykneld’s partnership working with Sustainable Building Services (UK) Ltd won the Refurbishment Project of the Year Award. Judges were impressed with the delivery of the £21m retrofit decarbonisation project, which has seen improvement works to over 640 properties. Rykneld Homes was also named runner up in the Sustainability category. Entries were judged by an expert panel with a wealth of knowledge and experience in the housing and construction industry. Heather Summers, Head of Neighbourhoods at Rykneld Homes, said: “Our Community Involvement Team offer something completely unique through the Duke of Edinburgh Award and have made a real difference to the lives of the young people they are working with and their wider communities. “They thoroughly deserve to have their efforts recognised.” Helen Brown, Head of Regeneration and Redevelopment, added: “Our work with SBS has produced real results and is improving the homes of our customers – something we are committed to doing. “We’ve won several awards for our work with SBS, it’s great to be recognised again.” EEM is a not-for-profit procurement consortium set up to drive cost and efficiency savings in the public sector. Since 2010, EEM and its members have worked together to deliver comprehensive yet simplified procurement solutions, which offer a wide range of compliant, competitive and high-quality products and services. Fundraising on the night raised £30,000 for EEM’s chosen charities, the Ben Kinsella Trust and Heartsafe Bleed Kits.

Freshcut Foods rebrands as Natural Innovations to sharpen food R&D focus

April Lara
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0
Freshcut Foods rebrands as Natural Innovations to sharpen food R&D focus

Freshcut Foods, a long-standing supplier of plant-based ingredients to the food industry, has rebranded as Natural Innovations as part of a strategic shift toward deeper research and product development investment.

The Nottingham-based company, which has served food manufacturers, global food service operators, and recipe box firms for over twenty years, is repositioning itself to help B2B partners stay ahead of evolving consumer preferences.

Under the new name, Natural Innovations will continue to develop tailored, chef-led ingredient solutions, while doubling down on innovation in natural, plant-based products. CEO Matt Wood described the move as a “natural evolution” to support future growth and showcase the company’s expanded R&D capabilities.

The company’s previous work includes designing kitchen-ready ingredients and menu innovations for leading restaurant chains and retailers. The rebrand is intended to communicate better the firm’s forward-looking role in the food supply chain while retaining the service and quality standards on which it has built its reputation.

Rydal Group acquires Nottingham healthcare tech firm’s IT division

Tess Egginton
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0
Rydal Group acquires Nottingham healthcare tech firm’s IT division
Rydal Group has acquired Nottingham healthcare technology firm Trisoft’s IT division, forming part of its continued commitment to delivering trusted, future-ready IT and communications solutions to businesses across the UK. By integrating Trisoft’s experienced technical team and long-standing client base into the Peterborough-headquartered Rydal Group, the firm aims to bring greater depth and reach to its nationwide service offering. Trisoft has been a technology partner for businesses across the Midlands and beyond for over 20 years. Clients who previously relied on Trisoft for their IT support will continue to work with the same engineers, contacts, and systems, but now with the backing of a larger organisation and a broader range of services. Founded in 2008, Rydal Group has grown into a national business with regional hubs in Lichfield, Lancaster and Huntingdon. With over 90 staff, it supports a wide range of organisations — from SMEs and schools to multi-site corporates — delivering managed IT, cyber security, cloud infrastructure, voice, data and mobile solutions.  

Warehouse solutions firm lets 345,000 sq ft unit

Tess Egginton
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0
Warehouse solutions firm lets 345,000 sq ft unit
Panattoni, the industrial developer, has let a 345,284 sq ft unit at Panattoni Park J28 Central M1 to warehouse solutions and last-mile delivery business Super Smart Service. CIRRO Fulfillment, operating under the legal entity Super Smart Service, has signed a 15-year lease and will use the space to enhance its operational capacity in the East Midlands, creating around 300 new jobs in the region and contributing £8 million to the economy. The business operates more than 10 warehouses across the Midlands, working with partners such as Royal Mail, Yodel, Hermes, China Post, and DPD to process and dispatch parcels for e-commerce retailers including eBay and Amazon. Andy Preston, Head of Development, North Midlands and Yorkshire, at Panattoni, said: “The M1/J28 is a strategic logistics location in the East Midlands, and Super Smart Service will benefit from easy access across the UK to ensure reliable and prompt delivery to consumers across the country. “This letting will boost economic growth in the region, and showcases Panattoni’s ability to identify strategically-located sites and develop high-spec, state-of-the-art, sustainable buildings for use.” Charles Lu, Head of Business Development Europe at CIRRO Fulfillment, said: “Our new agreed lease at Panattoni Park J28 provides a great base for us to expand our operational capacity and reach, and serve more domestic businesses. “The size and location of the unit is crucial in our provision of second-to-none storage and distribution, and we are pleased to have worked with Panattoni to find a unit that suits our specifications and needs, and support the creation of approximately 300 new jobs and a predicted £8 million generated in the region as we continue to drive the recovery of the UK economy.” The leasing agents are FHP, CBRE and Cushman & Wakefield.

Trelleborg and Nottingham Trent University form Knowledge Transfer Partnership for smart medical textiles

Tess Egginton
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0
Trelleborg and Nottingham Trent University form Knowledge Transfer Partnership for smart medical textiles

Trelleborg, a leader in engineered coated fabrics, has formed a new Knowledge Transfer Partnership (KTP) with Nottingham Trent University’s (NTU) Medical Technologies Innovation Facility.

The Medical Technologies Innovation Facility accelerates the research, development and delivery of innovative medical technologies and services for organizations across the breadth of medical and health sectors, by widening access to world-class facilities, equipment and expertise. This collaboration, part-funded by Innovate UK, aims to expand Trelleborg’s capabilities in smart fabrics for healthcare applications through cutting-edge innovation and research-driven solutions. The partnership will propel the development of a smart mattress system designed to enhance patient care and reduce medical interventions. NTU’s Dr. Yang Wei, an expert in smart medical textiles, said: “We are thrilled to partner with Trelleborg on this project. The development of smart fabrics will significantly impact the healthcare industry, and our shared vision aims to provide innovative solutions addressing real-world challenges. “This KTP demonstrates the power of combining academic research with industry expertise to create tangible advancements.” Antony Croston, Commercial Director Healthcare & Medical for Trelleborg Engineered Coated Fabrics, said: “This KTP is an important milestone in transforming the future of healthcare textiles. “By combining NTU’s research expertise with our local capabilities in engineered coated fabrics, we aim to pioneer innovations that improve patient well-being while driving global change in medical textiles.”

552-bed student scheme planned for Loughborough University

Tess Egginton
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0
552-bed student scheme planned for Loughborough University

Loughborough University has launched a public consultation on a proposed new student accommodation development on its Loughborough campus.

The site for the accommodation lies in the Central Park area of the campus, close to the Edward Herbert Building. It includes the existing Car Park 5 as well as land adjacent to it, including the parts of the campus previously occupied by the Graham Oldham and Chemistry buildings, both of which have already been demolished. The new accommodation would replace existing stock on campus that has reached its end of life. The development would provide 552 bedspaces across five blocks. The blocks would be set within landscaped surroundings, including a shared plaza and a landscaped square. Feedback received as part of this consultation process will help to inform further development of the proposals, in advance of the planning application submission to the local authority.

Name for Derby’s Becketwell venue revealed in multi-year deal

Tess Egginton
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0
Name for Derby’s Becketwell venue revealed in multi-year deal
Vaillant Live has been unveiled as the new name for Derby’s new flagship Becketwell venue, in a multi-year deal. A 3,500 capacity destination for concerts, family events, sports and conferencing, Vaillant Live will bring a world-class, purpose-built entertainment venue to Derby. The venue is owned by Derby City Council, operated by Legends and ASM Global, and sponsored by local heating manufacturer, Vaillant. The new name comes as Vaillant becomes the sole sponsor of the brand new venue space. Having been located in Derby’s neighbouring town in Belper since 1964, this year will see the heating provider further expanding its manufacturing facilities, continuing its investment in Derby and the surrounding areas. The five-year sponsorship of the Derby venue will support Vaillant in its mission to support the local community, whilst being the leading heating systems manufacturer in the UK. With the UK’s focus on net zero and reducing carbon emissions, Vaillant manufactures boilers and heat pumps, providing highly efficient heating solutions for homes around the UK encouraging homeowners to take a more sustainable route to heating their homes. This new opportunity with Legends and ASM Global will see Vaillant’s Hare take pride of place throughout the new venue, providing new opportunities for the local community to engage with the manufacturer and learn more about their heating system. Marcus Sheehan, General Manager at Vaillant Live said: “As we prepare to open the new venue, we are delighted to forge this partnership with Vaillant – a local business built on outstanding quality and longevity. This resonates with us as a venue, and we’re very much looking forward to working with the Vaillant team as we bring the very best in live entertainment to the heart of Derby.“ Henrik Hansen, Managing Director at Vaillant Group UK and Ireland, said: “We are proud to partner with Legends and ASM Global to bring this incredible venue into the heart of Derby. As a large employer and a manufacturer with a long-standing heritage in the region, supporting the local area and its regeneration is important to us. “Further demonstrating our commitment to the area, we have recently opened a new manufacturing plant at Indurent Park, Derby. Sponsoring the Vaillant Live venue is a perfect opportunity to reinforce our activities and focus our involvement with the community. “We hope that the Vaillant Live venue will increase awareness of Vaillant, not only for playing a role in the region’s economy but also providing entertainment to the City of Derby and its surrounding areas. “We look to create heating systems that make people’s homes warm and cosy through our heat pump and boiler technologies and keep our customers at the forefront of our decisions. This new venue will look to reach our customers in different ways outside of their home through entertainment so that they can create warm memories with their friends and families.” Councillor Nadine Peatfield, Leader of Derby City Council and Cabinet Member for City Centre, Regeneration, Strategy and Policy, said: “We’re thrilled to welcome Vaillant to the Becketwell team! Securing a naming partner is a fantastic addition to Derby’s new city centre venue and we couldn’t be happier that a locally-based company has the honour. “With their headquarters in Belper and manufacturing site at Indurent Park Derby just outside of the city centre, Vaillant have already invested heavily into Derbyshire and I’m really pleased to see this continue. “I can’t wait to see Vaillant Live officially opened and for residents and visitors to Derby to begin enjoying live music and events in our fantastic new venue.”

More shared ownership buyers increasing stakes in homes

April Lara
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0
More shared ownership buyers increasing stakes in homes

Leicestershire housing association Platform Home Ownership has reported a 50% rise in staircasing enquiries, as more shared ownership buyers seek to increase their equity in their homes.

Staircasing allows homeowners to gradually buy additional property shares, reducing rental costs and moving toward full ownership. Platform, which offers shared ownership homes across the county, has seen a 179% increase in total sales in the current financial year compared to the previous one.

Most shared ownership buyers start with a stake of between 10% and 75% of a property’s market value, paying rent on the remaining portion. Deposits for these schemes typically range from 5% to 10% of the share purchased, making entry into homeownership more affordable.

Market conditions influence staircasing costs, with each transaction requiring a valuation by an accredited surveyor. Platform Home Ownership’s Staircasing and Resales Manager, Laura Hathaway, noted that 72% of the association’s customers ultimately staircase to full ownership, while 28% purchase additional shares on an interim basis.

The surge in staircasing enquiries reflects a growing demand for long-term housing security, as buyers look for flexible ways to build equity and manage housing costs.

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