< PreviousFINANCE NEWS 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. “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. “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.” New £81.5m fund targets growth for SMEs in Midlands and North Frontier Development Capital (FDC) has launched a £81.5 million fund to support established small and medium-sized enterprises (SMEs) in the Midlands and North of England with tailored debt financing. The Evolution Fund will offer flexible loan packages ranging from £1 million to £8 million to SMEs across all sectors. The fund is structured to support business growth, sustainability improvements, and various corporate transactions such as management buyouts, acquisitions, shareholder changes, and debt refinancing. Backed equally by the West Midlands Pension Fund and the British Business Bank, with £40 million each, the fund is positioned to address a longstanding gap in the market for sub-£10 million business loans. Its eight-year structure features ‘bullet repayment’ terms, enabling companies to defer most capital repayment to the end of the loan period, thus easing short-term cash flow pressures. The initiative is expected to strengthen regional investment flows and offer a scalable template for further institutional backing in underserved SME markets. Nottingham provider of cloud hosting services secures funding to expand Nottingham-based provider of managed cloud hosting and data centre services, CompuWeb Communications Services (CWCS), has secured funding from the Maven-managed Midlands Engine Investment Fund II (MEIF II) to support the company’s expansion plans. CWCS has secured a £500,000 debt finance package. Founded in 1999 by Karl Mendez, CWCS provides IT hosting services via its own physical dedicated servers, private and public cloud solutions, and server colocation. The company operates from its own data centre in Nottingham and leases space in facilities across Manchester and London, as well as maintaining a presence in North America. The funding will enable CWCS to expand its colocation hosting services, offering businesses dedicated space in a data centre to house its IT infrastructure while benefiting from professional management and security. The company recently acquired a new property in Nottingham to expand its data centre footprint, supporting its strategy to meet growing demand from SMEs and larger clients alike. 10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk © stock.adobe.com/SasinParaksa Les McLintic with Westerby Group managing director Stephen Harvey and Iain Johnstone of FS Legal who played a key role in facilitating the EOT FINANCE NEWS © stock.adobe.com/Sashkin Derbyshire Dales secures £1m boost for business and community support Derbyshire Dales District Council has received an additional £1.02 million in Government funding to support local businesses and community groups over the next year. The funding comes from the UK Shared Prosperity Fund and Rural England Prosperity Fund, building on a previous £2.7 million allocation. The new funding will be distributed through grants aimed at supporting business diversification, growth, digital adoption, and workforce training. Capital and revenue grants will be available across all sectors, with priority given to manufacturing and engineering firms. Businesses may also access free energy audits and apply for additional funding to implement sustainability measures and reduce operational costs. Previous rounds of investment in the area have funded a range of projects, including technology upgrades for a motor racing simulator business, energy audits for historic sites, and solar panel installations for engineering firms. Community organisations, charities, and local councils will also be able to apply for support through an expanded Community Resilience Grants programme. Funding is available until March 2026, with a focus on strengthening business resilience and addressing skills shortages in the district. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 11 Cooper Parry makes thirteenth deal in two years East Midlands professional services group, Cooper Parry has made its thirteenth deal within the past two years, increasing its footprint in the digital/tech space with the acquisition of consultancy 3RP, an Oracle NetSuite Partner of the Year. The UK and Philippines-based firm fits alongside three other recent acquisitions within Cooper Parry Digital: Cloud Orca (Salesforce), MacroFin (Netsuite) and Front Foot (Data & Market Intelligence). Ade Cheatham, CEO, Cooper Parry, said: “Right from the first chats we had with 3RP, we knew the fit would be great – commercially and culturally. On the back of our other recent deals in the digital/tech space, this is another huge milestone for CP. “The talented 3RP team have created an outstanding business. We’re thrilled to welcome them into Cooper Parry as we carry on powering our next gen professional services vision.” Mansfield marketing academy secures funding for growth Growth is on the horizon for a Mansfield marketing academy for entrepreneurs after securing funding from the Community Investment Enterprise Fund (CIEF) delivered by BCRS Business Loans. Touchpoints Marketing has received £30,000 to expand the business, including moving staff from part time to full time roles and securing key trademarks to protect the company’s intellectual property. Registered as a limited company in 2021 by experienced marketer Vic Taylor, Touchpoints Marketing will use the funds as it builds a new portfolio of training programmes, including enabling two part time employees to go full time. The finance has also been used to promote the company at business fairs, purchase laptops for staff, invest in the launch of the company’s first book, maintain cashflow while they await payment from institutional clients and to secure trademark registrations for key offerings. Vic Taylor said: “Securing the finance from BCRS Business Loans has enabled us to put in place the changes we need to grow as a company, delivering marketing training which will enable the next generation of entrepreneurs to build businesses which have a positive impact on their communities.” © stock.adobe.com/cacaroot Ade Cheatham, Cooper Parry CEO © stock.adobe.com/alzayBakkavor exits China in £50m sale to streamline operations Bakkavor has sold its Chinese division for £50 million as it refocuses on core markets and works to strengthen its balance sheet. The buyer, Lihe Xing (Qingdao) Food Technology Co., part of China’s Lihoo Food Industry group, will take over Bakkavor China’s seven manufacturing sites and around 2,300 staff. The unit generated £105 million in revenue in the 2024 financial year. Bakkavor expects to make a £15 million profit from the sale, which is subject to regulatory clearance and is expected to be completed in the second half of 2025. Proceeds from the deal will be used to reduce group debt and support its target of reaching a 6% profit margin. The move comes as Bakkavor weighs a possible tie-up with rival Greencore, whose £1.2 billion bid could be extended, potentially leading to the creation of a combined group with £4 billion in annual revenue. This strategic exit signals Bakkavor’s intent to simplify its structure and improve margins as consolidation in the prepared food sector accelerates. MANUFACTURING NEWS n Industries takes majority stake in Derbyshire industrial brake, clutch and friction materials supplier n Industries Group has acquired a majority stake in Industrial Clutch Parts (ICP), a Derbyshire-based supplier of mission and safety critical industrial brakes, clutches, friction materials and couplings. ICP is a specialist distributor for many major industrial brake and clutch brands including WPT, Danfoss Airflex and Goizper, complemented by a portfolio of own brand products and aftermarket parts and consumables. With additional in-house manufacturing and refurbishment capabilities, ICP is a global business serving growing end markets such as wind energy, process industries, metal pressing, medical and mining. n Industries Group CEO, Jonathan Bates-Kawachi said: “It is a great pleasure to welcome ICP to the n Industries Group. ICP is one of the leading specialist distributors and manufacturers of brakes, clutches and friction materials globally. The safety critical nature of their products makes ICP a strong fit with our mission to build a group of high-quality industrial businesses.” ICP’s Managing Director, Chris Holmes, said: “Our decision to welcome n Industries as a majority stakeholder was driven by their innovative business model, which perfectly aligns with our ethos of remaining autonomous.” Rolls-Royce hails “strong start to the year” Rolls-Royce has hailed “a strong start to the year,” with all divisions performing well. In a new trading update the Derby firm highlighted that despite uncertainties associated with tariffs and continued supply chain challenges, 2025 guidance of £2.7bn-£2.9bn of underlying operating profit and £2.7bn-£2.9bn of free cash flow remains unchanged. The company noted that demand for its products and services remains strong across the group. Chief executive Tufan Erginbilgic said in a statement: “Our transformation of Rolls-Royce is progressing strongly and we continue to expand the earnings and cash potential of the business. “We are creating a more resilient and agile Rolls-Royce that is better equipped to respond to changes in the external environment. As a result, we have had a strong start to the year. “The recently announced global tariff increases have created a degree of uncertainty for the industry. We expect to offset the impact of announced tariffs on our business through the mitigating actions we are taking. We are closely monitoring the potential indirect impact on economic growth and inflation, and will continue to take the necessary actions.” 12 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk © stock.adobe.com/Timon © stock.adobe.com/Nikish H/peopleimages.comThe Bridge and QinetiQ sign materials and engineering partnership The Bridge at University of Lincoln and defence and security company, QinetiQ, have extended their ongoing partnership, after signing a new Memorandum of Understanding (MOU). The new collaboration, in advanced materials and engineering, builds on an existing MOU signed in September 2023, which focused on artificial intelligence. This expanded agreement enhances knowledge sharing and innovation, creating new opportunities for research and development. Combining business with innovation, the Bridge, hosted by the University of Lincoln, is a not-for-profit facility with specialist spaces hosting advanced instrumentation, purpose-built laboratories and training and innovation suites designed to ease access for businesses, to all aspects of materials innovation. The new agreement paves the way for exciting opportunities for students from the university, including graduate or ‘year in industry’ placements, PHD studentships and the sponsorship of Masters level projects. It also grants QinetiQ employees access to use the advanced technology and instrumentation based at the University of Lincoln, enabling the analysis and characterisation of advanced materials delivered by The Bridge. MANUFACTURING NEWS PepsiCo launches food waste and employment initiative in Leicestershire PepsiCo is expanding a sustainability and employability initiative in Leicestershire, focusing on reducing food waste and creating local jobs. The company is strengthening its partnership with FareShare, a leading UK food redistribution charity, with a £210,000 investment. The program has two parts: Surplus with Purpose and the Leicestershire Employability Program. The former redirects surplus vegetables from farms to a network of 8,000 charities across the UK, providing an estimated 550,000 meals. The latter focuses on Leicestershire residents, offering job readiness workshops, mentoring, and application support to prepare over 600 individuals for roles in the food and retail industries. This move reinforces PepsiCo’s sustainability footprint in Leicestershire, home to its Walkers Crisps manufacturing site, and supports its ongoing work with 290 UK farmers to promote regenerative farming. The initiative also contributes to broader efforts to reduce food waste and strengthen local economies through targeted upskilling. Travis Perkins sells staircase manufacturer Travis Perkins, the Northampton-headquartered distributor of building materials, has sold its specialist floor kit, i-joist and staircase manufacturer Staircraft. Gait Consulting, which is majority owned by the founder of Coventry-based Staircraft, has snapped up the firm for cash consideration of £24m. Chief financial officer Duncan Cooper said: “The sale of Staircraft is another step towards simplifying the Group’s operating model with a clear focus on being the UK’s leading distributor of building materials. “The proceeds will be used to strengthen the Group’s balance sheet and will support our disciplined approach to reinvesting in our core assets. “I would like to thank all colleagues in Staircraft for their contribution as part of the Group and wish them all the best for the future as an independent business.” © stock.adobe.com/Michael Derrer Fuchs www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 13 © stock.adobe.com/ASDF © stock.adobe.com/Jevanto Protography © stock.adobe.com/AskarPROPERTY NEWS Work gets underway on £18m agri-tech centre at Leicestershire college A ground breaking ceremony has been held for SMB College Group’s £18 million campus development at Brooksby, which will bring some of the best agricultural equipment and facilities to Leicestershire. In attendance at the ceremony were representatives from Tilbury Douglas and Gleeds, in addition to SMB College Group delegates including Dawn Whitemore (principal and CEO), Jason Spencer (assistant principal for estates), James Fryer (director of land-based and farm) and Andy Graham (director of campus). Also present were four Level 3 Animal Management students, Amelia, Amelia, Noah and Leah, who were in attendance to represent the college’s Brooksby Campus students. The Department for Education funded project will bring a brand new state-of-the-art agri-tech centre to Brooksby, featuring equipment such as GIS software for field and yield mapping, virtual learning environments, purpose-built labs, drones, and robotics – all of which will benefit students and apprentices studying a range of qualifications at the specialist land-based campus. There are also additional buildings, including a new refectory and student services area. Planning permission granted for Nottingham student accommodation scheme A purpose-built student accommodation scheme in the centre of Nottingham has been given planning permission. Peveril Securities and PMI Developments are working with Nottingham-headquartered CPMG Architects to create a residential offering consisting of 37 shared cluster flats and 50 studios – equating to a total of 247 rooms across sections ranging from three to nine storeys. Originally proposed in spring 2022, the scheme located on Glasshouse Street in the Eastside area of Nottingham has been adapted through collaboration between the project team and Nottingham City Council to ensure it brings the client’s vision together with the needs of key stakeholders. Chris White, director at CPMG, has led on the project since its inception. He said: “Throughout the design process, we’ve incorporated lots of feedback from various interested parties, while maintaining PMI Developments’ commitment to creating a high- quality offering which contributes to revitalisation of the Eastside. “The result is much-needed student accommodation that will improve the student experience while also supporting the local economy in Nottingham.” Phoenix Brickwork secures double win worth £4.5m Phoenix Brickwork, based in Pinxton, Derbyshire, has won two major projects with a combined value of £4.5m. Working with client Willmott Dixon, Phoenix will supply the brickwork package for the University of Staffordshire’s new student village in Stoke-on-Trent. At the same time, Phoenix will also work on a multi-million-pound contract to build a new 28-bed children’s facility in Sleaford, Lincolnshire – providing much-improved facilities for young people. Work on Stoke’s landmark project will see 700 new student rooms built in cluster blocks and townhouses alongside a village ‘hub’ facility – which will include a roof-top terrace, well-being spaces and a study area. In addition, BMH Scaffolding, part of the Phoenix Brickwork group of companies, will provide the scaffolding for this scheme, which is estimated to take 40 weeks. In Lincolnshire, the project to build a new children’s home has been funded by the Department for Education and is expected to be complete by 2027. The flagship build has been designed to reach net-zero in operation and provide an innovative partial grid solution – supported by solar panels and a state-of-the-art power storage. 14 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk The new student village in Stoke-on-TrentPROPERTY NEWS Nottingham car dealership site sold in off-market deal A dual-franchise car dealership site on Hucknall Road, Bobbers Mill, Nottingham, has changed hands in a discreet off-market transaction. The high- profile property, home to Hyundai and Citroën dealerships operated by Vertu Motors, has been owned by private investors for several years. The sale was handled by Salloway Property Consultants on behalf of the sellers. Director Stephen Salloway said: “Our clients are prudent family investors who regularly review their portfolio. While there was no immediate plan to sell, the timing of this approach aligned with other opportunities, and they were willing to consider a serious offer.” The buyer was represented by Will Torr of heb: “We were actively seeking long term income for private investor clients and we identified this site as a suitable addition to their portfolio. We opened a discussion with Steve Salloway and quickly reached terms that satisfied both parties.” Salloway added: “The transaction progressed smoothly, thanks in large part to the professional efforts of Kerry Elliott of Actons, who acted for the seller, and Carla Dawn and Heather Jellyman at RJS Solicitors, who represented the buyer. Their work was instrumental in bringing the deal to a successful close.” The Hyundai and Citroën dealerships are unaffected by the transaction. E-commerce prep and logistics company moves into new Ilkeston HQ Craner & Kirkman, the growing e-commerce prep and logistics company, has moved into a new headquarters at Soloman Park, Ilkeston. The move marks a major milestone for the business, which has grown to over £500,000 in turnover in less than three years under the leadership of founder Tom Singleton. Singleton, a former account director at Inspired Thinking Group (ITG) in Birmingham, left agency life after a decade to launch Craner & Kirkman. Originally started as a side hustle, the business now supports sellers across Amazon, Etsy, TikTok Shop, eBay, and Shopify. The new facility at Soloman Park more than doubles the company’s operational space and allows Craner & Kirkman to meet growing demand from UK and EU-based sellers. “We’ve built this business from the ground up — no outside funding, just good service and word of mouth,” said Singleton. “Moving into our new HQ gives us room to grow, but it also lets us keep raising the bar for e-commerce logistics.” Hortons has submitted a planning application for the redevelopment of Sinfin Commercial Park, Derby, which will deliver 270,000 sq ft of new light industrial and logistics space. The masterplan proposes 17 new units, ranging in size from 5,000 – 70,000 sq ft, on a 23-acre site near the Rolls-Royce Sinfin campus, with connectivity to the A50 and M1 motorway. The scheme will target EPC A+ and includes electric vehicle charging points, photovoltaic panels and the creation of green amenity spaces to enhance the estate’s environmental credentials. Hortons recently commenced demolition works on a redundant 207,000 sq ft warehouse unit at the park, paving the way for the proposed new development. The company acquired the vacant unit last year, following its earlier acquisition of 21 fully occupied warehouse units on the adjoining estate. Hortons owns an additional eight acres of open storage and development land, contiguous with the holding. Plans unveiled for 270,000 sq ft light industrial scheme in Derby www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 15 16 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk APSS Q&A What’s the first thing a business should do when planning an office move? Check your lease. Honestly, it’s not the most exciting place to begin, but it’s essential. You need to know your notice period, whether there are any penalty clauses, and what kind of condition you need to leave your current office in. There’s nothing like a surprise dilapidation clause to ruin your day. Dilapidation clause? What is that? It’s basically the landlord saying, “put it back how you found it.” That could mean repainting, repairing, or removing anything you’ve added. It’s the office equivalent of not losing your rental deposit. If you do this yourself rather than through the landlord, you could save yourself a lot of money. three weeks debating where the coffee machine goes. When should you get the team involved? Early enough that they feel heard, but not so early that every Friday turns into a design debate. A simple questionnaire does the trick, ask what they love (and loathe) about the current space, what they’d like to see in the new one, and what they need to work better. It’s a great way to spot trends - if everyone’s asking for better breakout areas or quieter zones, that tells you something. Let’s talk about finding the new office. What should be on the checklist? Think beyond just location and square footage. How easy is it to get to? Is there enough parking? What compromises will you have to make? And don’t sign anything without a site survey. We’ve seen businesses move into offices with wiring straight out of the 80s. Glamorous, but not very practical. Once you’ve found your dream space, what happens next? The fun begins - design and fit-out. This is where you get to turn a blank canvas into a workspace that actually works for you. Layout is everything. It’s not just desks and chairs—it’s collaboration zones, meeting rooms, kitchen areas, storage… and yes, even a quiet corner for your finance team to hide from the rest of the office. This is where APSS shines and what we do best! How long does a fit-out take? Anywhere from 6 weeks to 6 months, depending on how much work is needed. We’ve been doing this for over 28 years, and we know how to keep things on track. Q&A The office move survival guide Moving office? Deep breaths. It doesn’t have to be a logistical nightmare. We sat down with Richard Mycroft, the new MD of office design and fit out company APSS, to break down the big questions, and even bigger pitfalls, of office relocation. What’s the biggest mistake you see companies make during a move? Leaving it too late and underestimating how much time it really takes. It’s not just a case of booking the removals van and popping the kettle in a box. In reality, a smooth move can take up to a year of planning. And then there’s the budget. Costs mount quickly, especially if you don’t build in a contingency for the unexpected. Should someone internally take charge of the move? Absolutely. Appoint a project manager—ideally someone organised, and with a mild obsession for spreadsheets. And keep your decision- making team small. Three is perfect. Any more than that and you’ll spend Richard Mycroft Managing Directorwww.eastmidlandsbusinesslink.co.uk East Midlands Business Link 17 APSS Q&A Bring us in early and we’ll help you avoid those late-stage dramas - like realising the server room has no power points. What about the technical side - IT, power, that sort of thing? It’s not the most glamorous part of the move, but it’s one of the most important. Take stock of what you’ve got, what you everything. Otherwise you’ll end up with marketing using the accounts printer and no one will be happy. Back up your servers, do a final inspection of the new space, and share a mini checklist with the team so they know where to be, when, and what to pack. Last question - what’s the one piece of advice you’d give anyone planning an office move? Plan early, get expert help, and don’t try to do everything yourself. A well- managed move can give your business a real boost—not just a new postcode, but a better working environment for your team. And if you do it right, you might even enjoy the process. Thinking of moving? Download the APSS Office Relocation Guide for a full checklist and important hints and tips on how to get organised from the moment you start thinking about it through to moving day. For more information visit www.apss.co.uk, call on 01522 688771 or email enquiries@apss.co.uk need, and how that might change as your business grows. Make sure you’ve got enough data points and sockets - no one wants a cable spaghetti situation in their shiny new office. We’re down to the wire - what are the final steps before moving day? Get labelling. Desks, chairs, boxes - SCAN ME!18 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk RELOCATION AND INWARD INVESTMENT Relocation, relocation, relocation The economy is not in a great place – so should relocation be the last thing on a business owner’s mind? Not always. A tumultuous economy may not sound like the best time to relocate a business, but for many it can become the catalyst itself. The need to relocate isn’t always made with downsizing or upsizing in mind, though this may be a necessary action either to save money or to enable a company to grow and expand its operations. Sometimes a relocation is made more with thought toward employment opportunities or the company’s image. With businesses across all regions struggling to grasp and retain top talent, relocating to an area with higher levels of candidates can open new labour markets. Graduates often flock to cities because of better employment prospects and higher wages, which can Relocation, relocation, relocation www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 19 RELOCATION AND INWARD INVESTMENT mean that while businesses enjoy rural landscapes, they don’t always enjoy access to top candidates. Having an office in a city centre often means more potential hires if a company either wants to expand or is struggling to fill available spaces. Relocation or building new facilities can be poised to take advantage of factors such as lower operating costs, access to skilled labour, favourable regulatory environments, or proximity to key markets. By investing in new facilities, such as manufacturing plants, offices, or research and development centres, jobs can be created to feed the local economy or provide spaces that contribute to the development of local industries. Businesses are also increasingly considering relocation as a means to reduce carbon emissions and operate from more environmentally friendly and cost-effective premises. By investing in purpose-built developments, eco- friendly features can be integrated into almost any premises, from recycled materials to renewable energy sources 20 ÁNext >