Acquisitive Phenna Group swoops for Asset Management Engineers

Nottingham-headquartered Phenna Group, which invests in and partners with selected niche, independent Testing, Inspection, Certification and Compliance (TICC) companies, has made its 10th acquisition of 2025. Swooping for Asset Management Engineers (AME) – a leader in plant testing, inspection and certification – the firm becomes Phenna’s 16th business in the APAC region. Based in Perth and providing services throughout Australia, AME assists their customers in the resources, energy and industrial industries to reduce risk, meet regulations and enhance the lifecycle of their key assets. Trinity File, managing director of AME, said: “We are excited to be joining Phenna Group. We feel that partnering with Phenna provides the right support for our future growth in capability and geography. The engagement with the Phenna team has been very positive, and we look forward to working with Phil, Brett and their team.” Brett Coleman, divisional MD Asia of Phenna Group, said: “I am very excited to welcome Trinity and the team to our Group. They have built a strong business with a continued focus on expanding the services they provide their customers while ensuring the highest levels of client satisfaction. I look forward to working with Trinity and his team to continue their exciting growth.” Phil Marshall, CEO of Phenna Group, added: “I am very pleased to welcome AME to Phenna Group. Their experienced leader and team, support and expand our fast-growing operations and scope of services in the Asia region. We look forward to supporting Trinity and his team and seeing them continue their growth journey within Phenna Group.” Phenna Group were advised by RSM Melbourne and Macpherson Kelley. AME were advised by Octavian Group and Squire Patton Boggs.

Marks Electrical slips to a loss despite record revenue

Marks Electrical Group, the online electrical retailer based in Leicester, has slipped to a loss, despite record revenue.

In full year audited results for the 12 months ended 31 March 2025, the business posted a pre-tax loss of £1.7m, compared to a £616,000 pre-tax profit last year.

It came as revenue reached £117.2m, up from £114.3m in the year prior.

Mark Smithson, CEO, said: “During a challenging year for the Group and in a market where consumers continue to remain price conscious, I am proud of the strategic and operational progress we have made.

“Our ERP implementation brought minor disruption to the business during the cutover period, however, the transition has been successful and our teams have quickly embraced this transformational change.

“This has been a significant, long-term strategic investment for the business, which will allow automation of process improvements to make our operations more efficient at scale, and enable us to deliver growth, profitability and value for all our stakeholders.

“As outlined previously, we expected our pivot back to a premium focused operating model to have an impact on the speed of our revenue growth. We initiated this change in late FY25, and the impact of this shift away from entry-priced products has led to lower sales in Q1 against a strong comparative in the prior year, which also impacted operating leverage.

“However, as we focus on the right product hierarchy and sales channels, we expect this to have longer-term benefits on unit economics, and as comparables ease in later quarters we expect a return to revenue growth during FY26.

“Over the past couple of years we have invested in our operations to position Marks Electrical for long-term success. At the same time, we have continued to deliver profitable market share growth, strong cash flow generation and consistent returns in the form of dividends to shareholders thanks to our ability to allocate capital with discipline.

“Our relentless approach to providing exceptional customer service continues to be our core focus and we remain committed to becoming the UK’s leading premium electrical retailer.”

Nottingham financial planner doubles presence north of the border

Wren Sterling has doubled its presence north of the border, with the acquisition of City Financial (Aberdeen) Ltd, based in Aberdeen, Ellon and Inverness. The transaction sees over 6,000 clients and £700m of assets under management become part of Wren Sterling, boosting its overall AUM to £11bn. The City Financial transaction is the Nottingham financial planner’s third acquisition of 2025, with further deals in the pipeline. James Twining, CEO at Wren Sterling said: “We’ve been trying to build presence in the North and East of Scotland for several years to complement our existing team in Glasgow and the Central Belt, and since we first met the City Financial management team, we’ve been looking to bring them into Wren Sterling. “City Financial is a business that has grown impressively on the back of hard work and commitment to its clients. Directors Fiona MacKenzie, Kevin Munro and Sean Craig have been instrumental in the growth of City Financial and it’s a big boost to bring that experience into our business. “Our acquisition strategy has started to really pay dividends in the last six months as the businesses we’ve acquired have become fully integrated. They have got to grips with our systems and processes and found the space to grow their business again. “Our organic strategy has also started to turn our way, with a focus on client referrals, direct to consumer lead generation through digital marketing and targeting some specific verticals. We’re optimistic of continued organic and non-organic growth in 2026.” Kevin Munro, previously managing director of City Financial and now a regional director at Wren Sterling, added: “Wren Sterling was our preferred partner to allow us to expand and enhance our clients experience. “They have a very clear client proposition that we believe can add real long-term value to our clients through additional services and a strong focus on price and performance when it come to investments through its exclusive in-house DFM, Magnus. “The integration process has been thorough with plenty of hands-on support to get our clients and colleagues transferred to Wren Sterling with the minimum of disruption. “We’re pleased to be here and looking forward to growing our presence in our heartlands further with Wren Sterling’s brand strength, central functions and financial backing. We think its an exciting time to be part of Wren Sterling.”

Derby council to review taxi age policy amid driver concerns

Derby City Council is set to review a controversial rule that reduced the maximum age for newly registered taxis from 15 years to five. Introduced in April, the new policy has faced backlash from taxi drivers, who argue that the change will increase operating costs and could push some out of business.

A report to be presented at Thursday’s council meeting warns that the policy may drive drivers to register their vehicles with other local authorities. However, reversing the rule could expose the council to compensation claims from those who have already complied with the new age limit.

The council has defended the measure, stating that it aims to ensure taxis are in good condition and meet modern safety and emissions standards. Notably, Hackney taxis are exempt from the new rule, and previously registered vehicles are unaffected.

The report also acknowledges the financial burden on drivers, including higher vehicle purchase, tax, and insurance costs. While the five-year limit is seen as a way to reduce emissions by removing older, polluting vehicles from the fleet, the potential for inconsistent regulatory decisions and compensation claims remains a concern.

If the petition to reverse the rule is successful, the council will delay the implementation of the policy until the next committee meeting, where potential changes will be discussed.

Collaboration drives workforce solutions in the East Midlands

The East Midlands Chamber’s People and Skills Conference 2025, held at Loughborough University, brought together businesses and educators to address key workforce challenges, including filling job vacancies, staff retention, and advancing Equality, Diversity, and Inclusion (EDI). Hosted in partnership with Loughborough University and West Nottinghamshire College, the event featured discussions aimed at shaping the region’s skills reform.

As part of the conference, Richard Blackmore, Director of Policy and Insight at the East Midlands Chamber, highlighted that over 60% of businesses in the region struggle to find candidates who meet their specific requirements. Filling vacancies remains a critical factor for economic growth, and a collaborative approach between employers and educational institutions is essential to bridging this gap.

Keynote speaker Prof. Eva Selenko of Loughborough University spoke on the importance of aligning education with business needs to tackle youth unemployment. The discussion addressed the complex challenges young people face, including mental health barriers and difficulties navigating career pathways.

Panel discussions also focused on recruitment and retention, with experts emphasising the need for businesses to recognise transferable skills and promote themselves as employers of choice. Chris Grocock of Futures and Eileen Perry of ER Recruitment emphasised the importance of collaborating with educational institutions to drive meaningful policy change and enhance workforce engagement.

The event showcased the necessity of collaboration across industries to support long-term skills development, with a call to strengthen partnerships between businesses and training providers.

International venture builder project at Nottingham Business School to train researchers in entrepreneurship

A £400,000 project led by the Centre for Business and Industry Transformation (CBIT) at Nottingham Business School aims to bridge the gap between academic research and industry by training technology transfer professionals and STEM researchers in entrepreneurship – with a focus on AI to empower businesses. At the heart of the initiative is a “Train the Trainer” model developed by CBIT, which will prepare 40 staff from partner institutions to mentor researchers in commercialisation and innovation practice. Unlike traditional technology transfer offices, this approach is designed to build enduring local capacity for venture creation – equipping mentors to guide researchers beyond patents and licensing into real-world venture building. By embedding entrepreneurial expertise within institutions, the program fosters self-sustaining ecosystems of innovation. These trained mentors will play a pivotal role in delivering the STEAM Founder Program, which will support 120 researchers from the UK and Thailand in aligning their work with the needs of industry and society. The program equips STEAM researchers (science, technology, engineering, arts and mathematics) with the practical tools to work across disciplines, engage with external stakeholders, and develop solutions with global relevance. With funding from the British Council’s prestigious International Science Partnerships Fund and Thai Science Research and Innovation, it will be delivered as part of an established partnership with Chiang Mai University’s Science and Technology Park (STeP). The program will focus on personal AI and health technology to address Thailand’s pressing socio-economic challenges and align with its national strategies. The country faces significant gaps in healthcare access, especially in rural areas, and is prioritising innovation-driven economic growth, particularly in the health and wellness sectors. The project also opens up access to new expertise, partnerships and global markets for UK researchers. In addition to fostering interdisciplinary thinking, the program develops the commercial capabilities needed for international venture building. Participants will gain practical skills in opportunity assessment, sustainable business modelling, and market validation—preparing them to take research-driven products to market. With Thailand acting as a launchpad into Asian markets, and the UK serving as a gateway to Europe, the program positions researchers to grow globally connected ventures from day one. Researchers will test early-stage products with a range of selective ventures from CBIT Venture Builder in the UK and Chiangmai Science Park in Thailand, gaining experience in applying their ideas in real-world, international contexts. The program will evolve into a formal course and will be supported by a new International Network of Entrepreneurial Interdisciplinary Champions (INEIC), which will build lasting partnerships and promote knowledge-sharing between the UK and Thailand. The network will connect researchers, entrepreneurs, and innovation professionals to collaborate on real-world challenges. CBIT has a proven track record in developing scalable, market-ready solutions and a growing global reputation as a convener of interdisciplinary and cross-border partnerships. Professor Xiao Ma, project lead and director of CBIT, said: “UK researchers often work within single disciplines and focus on academic goals, which can create a disconnect between their work and real-world industry needs. “This narrow approach limits the practical impact of their research and contributes to lower industry research income compared to countries like the US. The program addresses this by promoting interdisciplinary collaboration to better align research with real-world applications.” Dr Phavika Mongkolkittaveepol, general manager of STeP, which boasts a network of more than 2,700 researchers and will provide incubation platforms to support the commercial adoption of innovation, said: “The Train the Trainer model is critical for building national capacity that drives transformational economic growth. By equipping institutions with the ability to nurture entrepreneurial talent, the programme lays the groundwork for a more dynamic, innovation-led economy. “Coupled with an emphasis on international venture building, it enables researchers to scale their ideas beyond local contexts and position Thailand and the UK as regional launchpads for global innovation.”

Ideagen swoops for US firm in second acquisition of 2025

Nottingham-headquartered software firm Ideagen has strengthened its policy management and productivity capabilities with the acquisition of ConvergePoint. Ben Dorks, Ideagen CEO, said: “We’re delighted to welcome ConvergePoint to the Ideagen family. “It’s a natural fit, you only have to look at the industries both businesses support to see how perfectly we align. Our customers will be able to benefit from a broader range of tools designed to streamline compliance and improve efficiency while ConvergePoint’s customers will benefit from access to Ideagen’s greater depth of solutions to strengthen their resilience.” Based in Texas, USA, ConvergePoint enables organisations using Microsoft 365 to efficiently manage policies and procedures, contracts, conflict of interest disclosures, safety and incident tracking and investigative case management. Their customers include global technology brands like Samsung, financial services companies such as Paysafe and KeyBank, alongside utilities businesses like Ameren. “Our combined capabilities create real strength in the compliance and policy management space,” said Aju Koshy, CEO of ConvergePoint. “Joining forces with Ideagen positions us to better serve our customers with innovative solutions that respond to the challenges of today’s regulatory landscape.” This marks Ideagen’s second acquisition in 2025 and twelfth since the start of 2023.

East Midlands Bricks Awards 2025: “I would encourage everyone to get nominating for these awards and help celebrate this industry,” says Nottinghamshire County Council

As Business Link’s East Midlands Bricks Awards 2025 draws closer, marking 10 years of the event, Nottinghamshire County Council is encouraging businesses to enter. Nottinghamshire County Councillor, James Walker-Gurley, Cabinet Member for Economic Development and Asset Management, said: “The property and construction industry is vital to our local economy and one to be proud of in Nottinghamshire and the region. “The industry generates skilled jobs, investment and contract opportunities for the supply chain. And with the STEP fusion prototype powerplant due to be built right here in our county, this will bring many more lucrative opportunities. “So I would encourage everyone to get nominating for these awards and help celebrate this industry.” 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 the property and construction industry in Derbyshire, Nottinghamshire, Leicestershire, Lincolnshire, and Northamptonshire. With nominations for the prestigious event now open, it is the ideal time to make your submissions, ahead of the deadline – Friday 15th August. Entering 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 awards ceremony and networking event, which will welcome Councillor Nadine Peatfield, Leader of Derby City Council and Deputy Mayor of the East Midlands, as keynote speaker.

To make a nomination for the East Midlands Bricks Awards 2025, please click here, or on the category headings below.

Categories include: 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.

Supporting imagery, video, documents, or links to these, can be sent to bricks@blmgroup.co.uk. Video nomination pitches are also welcome as an alternative or companion to written entries. 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 here Dress code: Standard business attire Thanks to our sponsors:                                                                                          

To be held at:

With a limited number of sponsorship opportunities remaining, please contact Angie Cooper at a.cooper@blmgroup.co.uk to learn more if you are interested in becoming an East Midlands Bricks Awards 2025 sponsor.

Manufacturing output weakens in three months to June

Manufacturing output volumes fell in the quarter to June, at a similarly steep pace to the three months to May, according to the CBI’s latest monthly Industrial Trends Survey (ITS). Looking ahead, however, firms anticipate that the pace of decline will slow over the three months to September. Total and export order books remained weak in June, with both balances broadly unchanged from last month and below their long-run averages. Manufacturers indicated that stock adequacy for finished goods fell slightly relative to May, with the balance dipping below the long-run average. Expectations for selling price inflation eased this month relative to May but remain above the long-run average. The survey, based on the responses of 335 manufacturers, found:
  • Output volumes fell at a steep pace in the three months to June, broadly similar to May (weighted balance of -23%, from -25% in the quarter to May). Manufacturers expect output volumes to decline at a slower pace in the three months to June (-5%).
  • Output decreased in 14 out of 17 sub-sectors in the three months to June, with the decline driven by the chemicals, metal products and mechanical engineering sub sectors.
  • Total order books were reported as below “normal” in June (-33% from -30% in May). The level of order books remained significantly below the long-run average (-14%).
  • Export order books were also below “normal” and broadly unchanged from last month (-26% from -29%). The balance stood below the long-run average (-18%).
  • Expectations for average selling price inflation eased in June (+19% from +26% in May) but remained above the long-run average (+7%).
  • Stocks of finished goods were reported as more than “adequate” in June (+6% from 10% in May), but the balance fell below the long-run average (+12%).
Ben Jones, CBI lead economist, said: “The UK’s manufacturing sector is under significant pressure, contending with high energy costs, rising labour costs, pervasive skills shortages, and a volatile global economic environment. With departmental budgets now set following the Spending Review, businesses are looking to the government to dismantle barriers to growth ahead of the Autumn Budget. “Welcome progress has been made with the recent infrastructure and industrial strategies setting a clear long-term economic vision for the UK. This is complemented by a US-UK trade deal expected to mitigate tariff uncertainty, especially for automotive and aerospace, and British Steel’s agreement to provide 337,000 tonnes of rail track for Network Rail. “With long-term strategies presented, the government must now continue to back up its ambitions with short-term delivery. This includes rolling out welcome energy cost interventions as soon as possible; delivering on Growth and Skills Levy flexibility; and pushing technology adoption to boost productivity. “Businesses are ready to work in partnership to translate long-term ambitions into near-term investments, job creation and opportunities.”

113,000 sq ft let at Derby’s Dove Valley Park

A 113,000 sq ft property at Dove Valley Park, Derby, has been let to an unnamed occupier. The property is part of the Axis Portfolio created by Hines, a global real estate investor, comprising eight new industrial and logistics facilities across the East Midlands. Six of the eight properties comprising over 800,000 sq ft are now let, the latest letting being DVP 113, measuring 113,137 sq ft, at Dove Valley Park, Derby, which completed in June. Dove Valley Park is a 200 acre industrial/distribution development. It provides over 1.75 million sq ft of accommodation and current occupiers include JCB, GXO, Futaba Industrial, MEG and Truma. The Axis Portfolio comprises three speculatively built units on Dove Valley Park of 113,000 sq ft, 152,000 sq ft and 196,000 sq ft. Mickey Scott, director at Hines, said: “We are delighted to complete the lease on this top quality building to a strong tenant, and we look forward to seeing them operating from the unit.” The agents are FHP Property Consultants and Cushman & Wakefield. In a deal arranged by the FHP team of Darran Severn, Tim Gilbertson and John Proctor, they commented: “It has been great working alongside Hines on this scheme. “We initially set out to raise the profile of Dove Valley Park across the region, building on the quality of the existing occupiers and its accessible location between the M1 and M6.  Dove Valley Park appeals to both local and national occupiers given its central location with the North West, West Midlands and East Midlands all within a 1 hour drivetime. “Not only does the location offer cost effective warehousing, but the local towns and cities of Derby, Burton on Trent, Uttoxeter and Stoke on Trent provide a good supply of accessible labour. “With strong take-up across the East Midlands throughout the first quarter of 2025, there remains little stock between 100,000ft² and 200,000ft² within our area. As a result, the remaining two buildings at Dove Valley Park are receiving good interest from both distribution and manufacturing occupiers.”