< Previous10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Mattioli Woods and Kingswood to merge, creating major wealth management group Mattioli Woods, the specialist wealth and asset management business, and the Kingswood Group, a wealth and investment management firm, have agreed to merge. The combined group will be a leading force in the UK wealth and savings market, serving over 25,000 clients with £25 billion in assets under administration and advice (AUAA). It brings enhanced capabilities across wealth planning, investment management, and client service. Ian Mattioli, MBE DL, CEO and founder of Leicester-based Mattioli Woods Group, said: “Our stated long-term ambition is to become a national wealth management firm with £60bn in assets and up to 300 advisers. Combining with Kingswood is a transformational moment and sees us accelerate our journey to achieve these goals. “This deal brings together two highly complementary businesses with a shared commitment to putting clients first and delivering long-term value. We’ve admired Kingswood’s growth and reputation for some time. Together, we are creating a stronger, more dynamic business that is well-positioned for the future – for our clients and our people.” Cronofy secures £15m investment to supercharge growth Cronofy, a Nottingham-based provider of embedded scheduling infrastructure, has secured a £15 million investment from BGF, the growth capital investors. The funding will support Cronofy’s ongoing expansion and product development as it continues to streamline complex scheduling processes for businesses globally. Founded in Nottingham, Cronofy enables real-time, secure scheduling through its integrated platform, which is used by over 180,000 organisations worldwide. The company’s technology is embedded into business workflows and applications, powering scheduling functionality across sectors including recruitment, healthcare, and professional services. The platform was created by experienced engineers, Adam Bird and Garry Shutler, who recognised that a new architectural approach was needed to unlock embedded scheduling at scale whilst natively respecting security and privacy. The fast growth business will use the funding to enhance its core product offering, expand into new use cases, and accelerate its growth in international markets, particularly in the US where it currently generates over 60% of its revenue. The investment also provides a partial exit for Cronofy’s seed-stage investors, who have supported the company since its inception in 2016. Lincolnshire tourism body folds amid ongoing financial pressures Destination Lincolnshire, the designated local visitor economy partnership (LVEP) for Greater Lincolnshire and Rutland, has ceased operations due to prolonged financial challenges. The organisation was unable to generate sufficient income to meet its operational costs, leading to the immediate termination of all staff positions. While the operational team has been disbanded, the board of directors will remain in place to oversee the insolvency proceedings. Destination Lincolnshire had served as a central hub for coordinating tourism strategy across the region, facilitating collaboration between local businesses, councils, and tourism operators. Its closure now creates a gap in the delivery and oversight of regional visitor economy planning. The future of tourism development in the area will depend on fresh public-private partnerships and establishing a more sustainable funding model to support strategic projects and tourism infrastructure. The organisation’s legacy includes a framework for regional coordination, which stakeholders may need to rebuild or integrate into other structures. Ian Mattioli, CEO and founder of Mattioli Woods Group Adam Bird and Garry Shutler, founders of Cronofywww.eastmidlandsbusinesslink.co.uk East Midlands Business Link 11 FINANCE NEWS © stock.adobe.com/Stock87 Notts accountancy startup bets on automation, secures new funding Bright Beany Accounting, a Nottinghamshire firm offering tech- enabled accountancy services, has landed £25,000 in funding via First Enterprise and the British Business Bank’s Start Up Loans scheme. Launched by co-founders Max Polkey and Katy Dales, the business targets SMEs with a model built around automation, digital workflows, and scalable support. The funding is being used to strengthen back- office functions and build out marketing to reach a broader client base. The firm’s proposition targets a growing market of businesses looking to reduce manual accounting processes, improve real-time financial visibility, and reduce compliance admin. First Enterprise, a not-for-profit lender, backs early-stage ventures that struggle to secure mainstream finance. Its loan values range up to £150,000. Its focus remains supporting innovation and job creation across the Midlands and beyond. Inheritance Tax on pensions – still waiting for clarity A major shift in estate planning was announced in the 2024 Budget: unused pensions will, from April 2027, be brought into the scope of Inheritance Tax (IHT) on death. This marks a significant departure from current rules, which have long allowed most pensions to sit outside of the IHT net. The government launched a consultation on the proposals, which closed in January 2025. Industry professionals – including WBR Group – responded in force, highlighting practical issues and urging clarity. Yet, months later, no draft guidance has emerged (at the time of writing), leaving families, trustees, and advisers in limbo. One of the most contentious proposals is the reduction of the death benefit payment window from two years to just six months, after which IHT penalties may apply. In practice, this timeframe is incredibly tight, especially where more complex pension arrangements such as SSASs (Small Self-Administered Schemes) are involved. SSASs remain one of the most tax-efficient tools for business owners, providing flexibility in investment (including commercial property) and succession planning. Any rule change must recognise this role. Until the draft legislation is released, advisers cannot confidently guide clients – yet all parties are aware that significant change is on the horizon. The hope is that common sense prevails and the final rules reflect the practical realities of pension administration. For now, trustees and members must wait and watch – but remain alert. The decisions made in the coming months could reshape pension estate planning for years to come. For further information call 0333 320 9230 or visit wbrgroup.co.uk Caitlin Southall, Director of SSAS Transformation and Proposition, WBR Group © stock.adobe.com/Pixel-Shot12 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS Nottingham steelwork contractor on track to achieve carbon net zero Nottingham-based Caunton Engineering, the steelwork contractors, is on track to achieve carbon net zero following the launch of a company-wide sustainability drive. The family-owned company, which has an annual turnover of around £100 million and employs more than 250 people, is moving forward with its ‘zero-carbon roadmap’ to reduce carbon emissions. The roadmap is driving a range of carbon reduction initiatives working together with clients, consultants and supply chain partners. These include design optimisation and efficiency, low embodied carbon materials and product innovation, off-site manufacture and assembly and seeking alternatives to liquid fossil fuels for on-site plant and equipment. As part of this stated commitment towards achieving net zero, Caunton is undertaking a multi-million investment to transform its loading fleet across the company’s fabrication facilities into an all-electric operation. This includes replacing the gas-powered CombiLift multi-directional forklift with an upgraded electric alternative, and introducing a new fleet of three all-electric Baumann side loaders, providing the latest in 120v battery technology and high levels of performance with wheel times of up to nine hours. Funding support sees Leicester manufacturer gear up for global growth A Leicester-based family manufacturing business is accelerating its global growth following a six-figure funding package from Lloyds. DMMP Limited, a subsidiary of the fourth-generation, family-owned George A. Palmer Group, designs and distributes high-precision fertiliser spreaders for the amenity and landscape sectors. Originally established as a UK wholesaler in 2009, the company pivoted to manufacturing its own products in 2023 in response to rising international demand. To support the next stage of its expansion, Lloyds provided a £400,000 funding package to enable operations through DMMP’s new Indian manufacturing arm, Indian Small Tool Equipment Company (ISTEC). Located near Pune in Western India, the site now employs more than 40 staff and has capacity to produce a container’s worth of spreaders daily for export worldwide. Since establishing the Indian facility in early 2024, DMMP has seen its turnover triple. Looking ahead, DMMP Limited is forecasting further growth with the potential to double turnover again over the next 24 months. To support this, the company is investing in new metalworking machinery to bring more of the manufacturing process in-house. Toyota shifts GR Corolla production to Derbyshire for US exports Toyota is moving a portion of its GR Corolla sportscar production from Japan to its Burnaston plant in Derbyshire to meet strong demand from North America and reduce delivery times. The company is investing approximately ¥8 billion (£41 million) to set up a dedicated production line at the UK facility, with plans to manufacture 10,000 units annually for export. Shipments to North America are expected to begin in mid-2026. The Burnaston site, which already produces the standard Corolla hatchback, will absorb some of the output from Toyota’s Motomachi plant in Japan, currently at full capacity. Last year, 8,000 GR Corollas were produced out of a total of 25,000 vehicles on that line. The production shift aligns with a recent UK-US agreement that reduces tariffs on British car exports to the US from 25% to 10% on up to 100,000 vehicles per year, providing a more favourable trade environment for manufacturers like Toyota. Japanese engineers will temporarily assist in setting up operations in Burnaston, which began operations in 1992. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 13 MANUFACTURING NEWS Saint-Gobain to bring 250 jobs to Leicestershire with new factory Saint-Gobain has unveiled plans for a new low-carbon stone wool insulation plant in Melton Mowbray, Leicestershire, expected to begin production in 2027. The factory will be built on the site of the former Holwell Foundry Works and when operating at full capacity has the potential to deliver 250 new jobs for local people. Construction of the factory will create approximately 100 construction jobs, during the first phase. The facility will initially produce 50,000 tonnes per year of high-performance stone wool insulation for the UK market with the potential to double its output to 100,000 tonnes per year. The new manufacturing facility will feature cutting-edge technology, including a fully electric furnace, powered by renewable electricity. This investment will help customers reduce the embodied carbon of construction projects by lowering the CO2 (scope 1 and 2) footprint of stone wool insulation. Geary’s Bakery unveils £36m Leicester factory Geary’s Bakery, the family-run business behind Jason’s Sourdough, has unveiled a new, £36m, custom-built bakery in Leicester. The third facility in its growing portfolio will double production capacity and create 380 new jobs. The expansion represents a significant step forward in the company’s ongoing growth strategy, with the new site set to boost total headcount to 950 by year end – nearly quadrupling the workforce in just four years. “This allows our business to move to the next chapter of our growth,” said Jason Geary, fourth generation, master baker of Geary’s Bakery and Jason’s Sourdough. “The demand for Jason’s Sourdough and real artisanal bread continues to grow, and we are constantly inspired by how much people love our bread. “This new site enables us to get our products into more stores and in more homes – while staying true to the quality and craft that set us apart. “This new facility is a vital part of achieving our ambition to make proper bread more accessible to more people.” © stock.adobe.com/golfass1 Leicester business expands with a tasty acquisition Aarti Sweet Centre has acquired Sangam Paneer, a manufacturer of paneer, supported by a seven-figure funding package from HSBC UK. The acquisition will allow Aarti Sweet Centre to grow its client base by integrating Sangam Paneer’s roster of long-standing customers, including major supermarkets. The deal secures 22 existing jobs and is expected to create new employment opportunities as Aarti Sweet Centre continues to expand. It will also increase the business’s overall production capacity, enabling it to meet rising demand across the UK. Hardas Keshwala, director at Aarti Sweet Centre, said: “With HSBC UK’s backing, we’re delighted to welcome Sangam Paneer into the Aarti Sweet Centre family. This strategic acquisition strengthens our production capabilities and enables us to serve an even wider client base across the UK. “We’re committed to preserving the heritage and quality Sangam Paneer is known for, while continuing to grow our offer.” Hitesh Mistry, relationship manager at HSBC UK, added: “This acquisition not only safeguards and creates local jobs but also brings together two respected brands to deliver high-quality vegetarian food at scale.” © stock.adobe.com/Елена ТруфановаConstruction of landmark rail innovation centre begins Construction of a modern rail innovation and training centre in Barrow Hill – which will create jobs and skills opportunities for local people, and bolster Chesterfield’s ambitions to be a leading destination for the rail sector – has started on site. The Derbyshire Rail Industry Innovation Vehicle (DRIIVe) will sit next to the historic Barrow Hill Roundhouse and will provide classroom and training areas, specialist research and development facilities including a digital laboratory, and commercial workshop space. DRIIVe is part of the multi-million-pound Staveley Town Deal programme and has received additional funding from Chesterfield Borough Council and East Midlands Combined County Authority. Councillor Tricia Gilby, leader of Chesterfield Borough Council and vice chair of the Staveley Town Deal Board, said: “This is an exciting project for Staveley, our borough and our region, that will allow both our residents and our businesses to access high-quality skills and jobs – whilst also strengthening our borough’s position in the rail sector. “It has taken a lot of work to get to this point, but it is great to see works getting started on site.” Winvic to commence construction at £200m Towcester employment park Winvic Construction has been appointed by IM Properties (IMP) to commence construction work at a major new employment park, Towcester Park. Expected to create 1,500 jobs when fully occupied, Towcester Park will provide skills and training opportunities for local people and fund projects through a dedicated £100,000 community fund. Commenting on starting the initial phase of the 1.1 million sq ft development, Danny Nelson, managing director – industrial, distribution & logistics at Winvic, said: “We’re proud to continue our long-standing partnership with IM Properties and work together to deliver the first stages of this high-quality employment space with industry-leading sustainability credentials.” Richard Sykes, development director at IM Properties, said: “Winvic is a trusted and valued member of our supply chain who understands our ambitions to deliver legacy projects and work in partnership with the community. “They have successfully delivered several of our previous schemes and will work closely with our team to help shape the first stages of this strategically important development.” Award-winning retail marketing agency takes whole building at Dock 3-5 Dock 3–5 has leased 17,077 sq ft – the entirety of its Dock 4 office building – to innovative retail marketing firm Array UK. Supporting global brands such as L’Oreal, Maybelline, Givenchy and Boots, the firm currently employs 87 people in the UK and was previously based in Leicester’s Friars Mill Business Centre. The move comes after international recognition of the firm’s commitment to innovation and sustainability, with Array UK earning nearly 150 industry awards across Europe. The company joins inaugural tenants Kazzoo IT Solutions, Somerbys IT, IN Focus ITS, Employee Zero, World Products, Translatr, Impact Venture, and The VoIP Shop. The Dock development is on track to house 120+ businesses and over 600 employees once fully occupied. Dock 3 – 5 is Leicestershire’s first net carbon-zero workspace development. Leicester-based firm Brackley Property Developments served as the development partner, with construction carried out by county-based Wilten Construction Ltd. Dock 3 – 5 is owned and run by Leicester City Council. 14 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk PROPERTY NEWS Picture shows Peter Chandler, Leicester City Council; Sally Robertson, Array Marketing; Peter Deacon, Array Marketing; Sir Peter Soulsby, City Mayor; Lisa Thomas, Array Marketing; Robert Shelvey, Array Marketing; Crystal Carter, Leicester City Council Electrical engineering giant moves into new 100,000 sq ft facility at Fairham Business Park Fairham Business Park in Nottingham, developed by Clowes Developments, is welcoming a major new occupier: global technology leader ABB. The 100,000 sq ft building, designed by IMA Architects and built by TanRo, will accommodate ABB’s growing demand for Furse earthing and lightning protection solutions. It incorporates advanced technology, flexible automation, R&D and testing capabilities, and digital systems to increase production capacity, improve efficiency, and support sustainable manufacturing. More than 100 employees will relocate to the new site from ABB’s existing Nottingham premises, continuing the company’s deep local heritage—Furse was founded in Nottingham in 1893, and ABB has operated in the city for over a century. James Richards, development director at Clowes Developments and Fairham Business Park, said: “We’re thrilled to welcome ABB to Fairham Business Park. Their investment validates the site’s exceptional location, diverse occupier mix, and top-tier industrial units. As we launch the next phase of development, we look forward to delivering even more opportunities.” 103-acre residential land sale completes in Burton Nurton Developments (Quintus) Ltd has completed a major residential land deal at its flagship mixed-use development at Branston Locks, Burton upon Trent. Places for People (PfP) – the social enterprise – has acquired 103 acres on the scheme to support its ambition of accelerating the delivery of affordable housing across the country. Tim Gardiner, group development director from Places for People, said: “We are delighted to get involved in this development which will see around 1500 new mixed-tenure homes delivered including private sale, affordable rent and shared ownership. “PfP is committed to supporting the government’s ambitious target to build 1.5 million homes and is experienced in creating and supporting thriving Communities. Developments like this, which contribute positively to the local area, are vital in providing much-needed housing, particularly affordable housing, as well as improved infrastructure, and enhanced community facilities.” Previous residential land deals on the site have been completed with national and regional housebuilders including Crest Nicholson, Taylor Wimpey, Lovell, and Cameron Homes. To date, more than 500 homes are occupied, with a further 400 under reserved matters approval. Housebuilder, Keepmoat is investing more than £102m into a housing regeneration scheme at the former Boots site in Nottingham, now named Beeston Canalside, following a partnership with Platform Housing Group. The multi-million pound site will deliver new, energy-efficient and affordable homes, transforming the disused brownfield land. The large- scale regeneration project will see Keepmoat deliver 604 multi-tenure new homes, with construction due to complete in 2029. Of the new homes, more than half will be delivered by Platform Housing Group for affordable rent and shared ownership, with 157 allocated for affordable rent and 162 for shared ownership. Adam Sharpe, regional managing director at Keepmoat East Midlands, said: “At Keepmoat, we’re proud to be a brownfield specialist housebuilder and we’re passionate about working to transform sites that have been previously developed and left unused. “We’re extremely proud to play our part in unlocking one of the most significant land deals in the last decade. We’re also thrilled to be continuing our fantastic work with Platform Housing Group to deliver high quality, sustainable homes set to regenerate this flagship site.” Housebuilder to invest £102m to transform former Boots site www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 15 PROPERTY NEWS16 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY Home to the UK’s logistics ‘Golden Triangle’, warehouse and distribution properties are in high demand in the East Midlands. F ollowing news in Business Link’s last Commercial Property report of the Drummond Estate and Inverock’s sale of Enderby Logistics Hub in Leicester — which will see Royal London Asset Management Property and Canmoor speculatively develop 1.2 million sq ft of prime logistics space — the region has continued to bubble with new starts, completions and lettings. In Hinckley, Mountpark has started construction on a 1.46 million sq ft logistics park, after securing approval for a complex hybrid planning application from Rugby Borough Council, Hinckley & Bosworth Borough Council and Nuneaton & Bedworth Borough Council. Detailed consent has been granted for the development of a 491,926 sq ft unit, which has been pre-let to a major supermarket retailer. Winvic Construction has been appointed to deliver infrastructure and enabling works, as well as the vertical build of Unit 1, which is scheduled for practical completion in spring 2026. Mountpark has additionally submitted Reserved Matters Applications for the two A golden logistics market www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 17 COMMERCIAL PROPERTY remaining plots, which will provide 514,100 sq ft and 258,000 sq ft of logistics space. Tom Kilmister, senior development director at Mountpark, said: “This marks an exciting step forward with construction now underway on site at Mountpark Hinckley, following over five years of dedicated work by our planning team to bring the development to fruition. This project reflects our commitment to unlocking new sites, our continued investment in the East Midlands’ logistics infrastructure and our ability to deliver high-quality space that supports market demand for our customers. The pre-letting of Unit 1 is a testament to our customer-focused approach, working closely with occupiers to deliver tailored solutions that align with their operational needs and long-term growth ambitions.” Meanwhile, in Northampton, SEGRO has completed a 35-acre Strategic Rail Freight Interchange at its multimodal development SEGRO Logistics Park Northampton. Maritime Transport is to operate the terminal which connects to the West Coast Mainline via the Northampton Loop Line and is expected to play a pivotal role in shifting freight movement from road to rail, reducing emissions and congestion. The rail terminal is part of SEGRO’s wider £200 million investment in local infrastructure around Northampton, delivered in partnership with National Highways, Network Rail and local authorities. Kate Bedson, senior director, national markets at SEGRO, said: “We’re excited to see real momentum at SEGRO Logistics Park Northampton, with the completion of the rail freight terminal infrastructure and strong progress on Yusen Logistics’ new facility – the first warehouse on the park to be constructed. Each freight train can remove up to 76 HGVs from the road with a consequential reduction in carbon emissions, making this a crucial step towards more sustainable logistics. With rail freight contributing £1.7 billion to the economy, this milestone is not only a shot in the arm for growth, also it supports a greener, more efficient supply chain.” The logistics park development has consent for 5 million sq ft of logistics and warehousing space and is anticipated to create around 7,500 jobs. Furthermore, in Leicestershire, a new lease agreement between logistics network Pall-Ex and commercial property developer and investor Barberry will see the construction of a state-of-the-art freight distribution hub. Pall-Ex’s new Centre of Excellence – thought to be the largest build to suit pre-let deal in the UK this year – will cover 408,000 sq ft, with an additional 100,000 sq ft canopy, on a 35-acre site. The £80 million facility will serve as the A new lease agreement between logistics network Pall-Ex and commercial property developer and investor Barberry will result in the construction of a state-of-the- art freight distribution hub in Leicestershire 18 Á18 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY flagship logistics hub for the network and will house Pall-Ex’s UK and European headquarters. With construction to begin later this year, the Centre of Excellence has been designed with sustainability and innovation in mind, aiming for EPC A+ and BREEAM Excellent accreditation, and once complete it will be energy self-sufficient. Barberry has lodged a planning application at Hinckley and Bosworth District Council for the development on land at Bardon. The proposals show it is expected to create around 500 construction jobs and an estimated 534 permanent jobs. Jonathan Robinson, Barberry development director, said: “We are thrilled to announce that we have secured a pre-let agreement with Pall-Ex to deliver the company’s new national centre of excellence in Leicestershire – the largest build-to-suit pre-let in the UK this year. Working closely with Pall-Ex we plan to create a new national palletised freight distribution center that will deliver new ESG credentials, carbon net zero in occupation, staff welfare recreation zone incorporating football pitch, basketball court, club house helping attract and retain staff while providing Pall-Ex with the operational excellence that will make the business stand out amongst its UK competitors. After agreeing a long-term lease with the company, we have now submitted a planning application to Hinckley and Bosworth District Council for a 408,000 sq ft warehouse at Bardon, located just a couple of miles from junction 22 of the M1, providing access to the national motorway network.”www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 19 INSURANCE I n today’s volatile economic landscape, it’s more crucial than ever for businesses to secure the right insurance coverage. Having effective insurance can be the difference between weathering a financial storm or facing an unexpected crisis that could jeopardise the future of your company. With trading conditions increasingly precarious, many companies have discovered the hard way that failing to take out appropriate cover can leave them exposed and out of pocket. From property damage to employee-related claims, the risks are vast and varied. Businesses in the East Midlands, with its diverse mix of industries ranging from manufacturing to high-tech start-ups, face a wide range of risks. The region has long been a hub for industries such as logistics, retail, and engineering, and these sectors, which rely heavily on infrastructure and supply chains, are especially susceptible to disruptions like the recent supply chain issues that have plagued businesses globally. The ongoing threat of cyberattacks and natural disasters further complicates the landscape. Unfortunately, despite these risks, many business owners remain underinsured or fail to regularly review and update their insurance policies. Industry experts warn that this lack of Securing the right insurance With rising risks and unpredictable conditions, businesses in the East Midlands must ensure they have the right insurance to protect against financial losses. 20 ÁNext >