< Previous10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS ONYX Insight acquires blade specialist ELEVEN-I ONYX Insight, the Macquarie Capital-backed provider of predictive analytics for the wind industry, has acquired ELEVEN-I, a specialist in condition monitoring and advanced analytics for wind turbine blades. Founded in 2019, ELEVEN-I specialises in performance, condition and structural health monitoring of wind turbine blades. This transaction strengthens ONYX Insight’s whole-turbine predictive maintenance platform with the addition of proven blade monitoring capability – giving operators a single place to monitor and manage whole turbine risk, avoid catastrophic failures, and optimise maintenance across their fleets. “As wind turbines grow in size and complexity, blade reliability has become a critical operational risk. Failures don’t just drive unplanned O&M costs – they can escalate into catastrophic events, including blade detachment and full turbine collapse,” said Dr Zhiwei Zhang, chief commercial officer of ONYX Insight. “Through years of research and testing, ELEVEN-I has developed cutting edge sensors and damage detection software allowing for quick data capture and analysis, ensuring difficult-to-detect structural changes are identified and blades can achieve optimal performance.” Bill Slatter, CEO of ELEVEN-I, said: “We founded ELEVEN-I to help wind operators understand how their blades perform under real-world conditions. Becoming part of ONYX Insight allows us to scale that mission globally, combining ELEVEN-I’s deep technical expertise with ONYX Insight’s industry- leading predictive analytics to enhance blade reliability globally.” Autumn boost for East Midlands economy as business cashflow improves A late summer fall in the number of East Midlands businesses with overdue creditor payments, as well as a decrease in insolvency-related activity, could indicate a much-needed boost for the local economy heading into the final quarter of 2025. This is according to the Midlands branch of national restructuring, turnaround and insolvency trade body R3, and is based on an analysis of data from business intelligence provider Creditsafe. R3’s figures show that the number of East Midlands businesses with invoices overdue for payment dropped from 25,607 in July to 24,462 in August, while the quantity of debts owed by liquidated firms in the region fell by a sizeable 10.08% over the same time period. There was also a decrease in insolvency-related activity in August compared to August of last year, showing fewer liquidator and administrator appointments as well as creditors’ meetings. Jobs lost as SOS Wholesale enters administration SOS Wholesale Ltd, based in Derby, has fallen into administration, with the majority of the company’s 100 employees being made redundant. SOS Wholesale is a discount delivered wholesaler that supplies consumer goods to convenience, discount, independent, major multiple, and garden centre retailers in the UK and Ireland. Founded in 1996, the business has grown to become one of the largest wholesalers in the country, providing an extensive range of branded products, including groceries, soft drinks, toiletries, household goods, and confectionary from its warehouse and distribution centre in Derby, and supported by its sales team in Barnsley. In recent months, the business had suffered many of the challenges facing the retail supply chain, including rising input costs and changing consumer spending habits. With cashflow and profitability under pressure, the business was unable to meet its financial obligations as they fell due, and so the directors took the decision to place the business into administration. Rick Harrison and Howard Smith from Interpath were appointed joint administrators to SOS Wholesale Ltd on 8 September. Trading at the business has now ceased, and the majority of the company’s 100 employees have been made redundant. A small number of staff have been retained to assist the joint administrators in their duties as they explore options, including launching a sale process for the business and its assets. © stock.adobe.com/ Zerbor © stock.adobe.com/ engel.acwww.eastmidlandsbusinesslink.co.uk East Midlands Business Link 11 FINANCE NEWS © stock.adobe.com/ amnaj East Midlands electronics firm saved through pre- pack acquisition An East Midlands electronics manufacturer and distributor, specialising in television antennas for the caravan, motorhome and marine sectors, has been acquired following administration. Grade (UK) Limited, trading as Vision Plus, entered administration in August 2025 after several years of declining sales and challenging market conditions in the recreational vehicle sector. The company recorded a 25 per cent drop in sales in 2024, followed by a further 25 per cent decline in the first quarter of 2025. Increasing competition and changing consumer preferences compounded the business’s difficulties, despite investment in Wi-Fi-enabled antenna technology. Joint administrators secured a pre-pack sale of Vision Plus to an unrelated buyer, aiming to maintain business continuity, preserve jobs, and maximise returns for creditors. Financial filings for the year ending December 31 2023, show Grade (UK) Limited held fixed assets of £1.1 million and current assets of around £1.2 million, resulting in net assets just under £2.1 million. Pre-pack acquisitions remain a common mechanism for rescuing companies, though regulatory scrutiny has tightened, particularly for sales involving connected parties. All eyes are on the Chancellor’s Budget on 26 November , with rumours swirling about further tax and pension shake-ups that could hit business owners and pension savers. We already know big changes are coming. From April 2027 , so-called “unused” pensions and death benefits will fall within inheritance tax (IHT): the current position on this is that whilst draft rules have been issued, the final rules are awaited. So, whilst we have a steer on the practicalities of the new approach, we don’t have all the detail we need yet. This year, speculation centres on the Pension Commencement Lump Sum (PCLS) – the tax-free cash available from age 55 (rising to 57 in 2028). Currently, you can take up to 25% of your pension (capped at £268,275). Media chatter suggests this could be reduced – just as we heard last year. That rumour triggered a rush of people acting on the rumours and then trying to “unwind” their lump sum withdrawals, which in most cases wasn’t possible. The takeaway? Don’t act on speculation . If you’re thinking about taking your PCLS, make sure you’re doing it for the right reasons, not because of headlines. Once taken, there’s generally no going back. As ever, the best move is to speak with your financial adviser before making any major decisions. Caitlin Southall – Director of SSAS at WBR Group © stock.adobe.com/ OleksandrRolls-Royce appoints Balfour Beatty for Derby site expansion Rolls-Royce has selected Balfour Beatty as the construction partner for the fissile element of its Raynesway site expansion in Derby. The move follows the company’s plan to double the size of its submarine manufacturing facilities to meet increased Royal Navy demand and support future attack submarine programmes under the AUKUS trilateral agreement. The expansion will include new manufacturing and office facilities and create more than 1,100 skilled roles across engineering, manufacturing, and technical disciplines. Work on the nuclear-licensed site requires enhanced safety and regulatory standards, with Balfour Beatty building on its existing involvement as a non-fissile construction partner to ensure continuity across the programme. PROPEL is delivering design work, a joint venture between AtkinsRéalis and Mott MacDonald, for the fissile facilities, while WSP manages the non-fissile design components. Together, the collective of partners will implement the full Raynesway expansion. Rolls-Royce Submarines employs over 5,000 staff and supplies pressurised water reactors for the Royal Navy’s submarine fleet. The company supports current Astute and Dreadnought programmes, provides global operational support from Derby, and maintains technical teams across Barrow-in-Furness, Devonport, Faslane, Glasgow, Cardiff, and Thurso. 12 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS GIC secures future manufacture of Cotswold Mechanical weighers Cotswold Mechanical weighers will continue to be manufactured in Britain, thanks to GIC, the vertical form fill and seal packaging machinery manufacturer. Cotswold Mechanical Ltd went into liquidation earlier this year, with GIC purchasing the company’s intellectual property, stock, and spare parts inventory. GIC has pledged to retain the brand name as it moves the manufacturing of Cotswold linear weighers from Gloucester to its Lincolnshire factory. GIC will continue to service existing machines and offer spare parts to customers. Established in 1995, Cotswold Mechanical Ltd manufactured linear weighing and counting machines, conveyors, and product handling systems which are used in a broad range of industries, including food, pharmaceutical, agricultural and hardware production. GIC, based in Gainsborough, has worked closely with Cotswold Mechanical’s team for nearly 20 years, with both companies’ machinery featuring alongside each other on many installations. Derbyshire engineering firms collapse, 17 jobs cut Four engineering companies in Derbyshire have entered administration, disrupting ongoing projects and affecting local supply chains. The group includes Greenbank Terotech, Greenbank Engineering Services, Ammegen, and Greenbank Group UK Holdings. The businesses offered services spanning design, manufacturing, and installation across industries, including bulk handling, rail, energy-from-waste, and water treatment. Collectively, they employed 43 people at the Swadlincote premises. The administration follows earlier financial failure within the group and reflects mounting trading pressures throughout 2025. Seventeen staff were made redundant immediately, while the remaining team will temporarily manage existing contracts, recover outstanding payments, and support potential buyers. Administrators are seeking investors or buyers interested in acquiring the businesses, their assets, or ongoing projects. The collapse highlights the ongoing challenges facing regional engineering firms under tight cash flow and competitive market conditions. © Rolls Royce GIC’s Luke Murphy and Andy Beal with a Cotswold weigherwww.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS East Midlands manufacturers see weak start to second half of the year East Midlands manufacturers have seen a weak start to the second half of the year with output and orders turning negative, while recruitment intentions continue to suffer from the increase in National Insurance Contributions. According to the Make UK/BDO Q3 Manufacturing Outlook survey, output and orders in the third quarter came in at a balance of -6% and -17% while the balance on recruitment intentions was similarly negative at -6%. The one bright spot for the region was an increase in investment intentions, albeit quite weak, to a balance of +6%. The survey also showed the United States has recovered its position as the second most favoured market for growth prospects, having dropped out of the top three global blocs in Q2 for the first time in the history of the survey in response to tariff uncertainty earlier in the year. However, the survey also shows that almost three quarters of companies (70%) expect further increases in business tax in the forthcoming Budget at a time when a similar number (68%) have said their costs have already increased more than expected in the last six months. As a result, more than half of companies (58%) have already raised prices this year, while a similar number (53%) intend to do so in the next six months highlighting that inflationary pressures for manufacturers remain in the pipeline. Rolls-Royce to lead new clean aviation project Rolls-Royce has been chosen by the European Union’s Clean Aviation programme to lead one of 12 new projects aiming to decarbonise aviation. These initiatives, which include new aircraft concepts and innovative propulsion technologies, will receive funding of around €945m. The Clean Aviation Joint Undertaking (CAJU) is the European Union’s leading research and innovation programme for transforming aviation towards a sustainable and climate neutral future. The UNIFIED consortium is led by Rolls-Royce and contains key industrial, academic and research partners across France, Germany, the Netherlands, Norway, Spain and the United Kingdom. Subject to successful completion of grant preparation, the project will enable ground testing of an UltraFan technology demonstrator at a short to medium range thrust class for future narrowbody aircraft and also enable the preparation of key activities towards future flight test of the UltraFan architecture. Alan Newby, director of research and technology, Rolls-Royce, said: “We are delighted that Rolls- Royce has been selected to lead the UNIFIED project. This recognition underscores once again our commitment to reshape aviation and further reduce its environmental impact. “UltraFan provides ultra-efficient and credible technology for future narrowbody applications and within UNIFIED we will demonstrate that we have the relevant, next-generation capability ready to deliver best-in-class performance in thrust, fuel burn, noise, emissions and durability.” © stock.adobe.com/ vegefox.com Fusion technology company acquires Leicester firm Tokamak Energy, the fusion technology company, has accelerated the growth and manufacturing capabilities of its TE Magnetics business with the acquisition of specialist engineering company Ridgway Machines. Leicester-based Ridgway Machines will operate as a subsidiary of Tokamak Energy, with the existing brand, workforce and facility remaining unchanged. TE Magnetics launched in September 2024 to focus on the industrial deployment of transformative high temperature superconductors (HTS). Ridgway Machines, founded in 1920, develop solutions for winding and insulating superconducting magnets and cables, and will enable TE Magnetics to scale up its UK manufacturing facilities to produce commercial products fit for multiple industries. Andy Glanville, Ridgway Machines managing director, said: “Throughout our hundred-years history, Ridgway has always been forward looking. This track record means we are well suited to expansion and this new period of growth. In Tokamak Energy, we’re proud to be joining one of the UK’s most exciting technology businesses and to play our part in their ambitious and transformative plans. “Both businesses exist to provide innovative solutions to some of the most pressing and important technological challenges the world is facing, and we can’t wait to get started on new projects together.” © stock.adobe.com/ Parilov © Tokamak Energy East Midlands Business Link 13 © stock.adobe.com/ Joseph CreamerChesterfield Market traders welcome completion of major regeneration work Chesterfield Market traders are celebrating the completion of major regeneration work to revitalise the main square. The transformation has delivered a welcoming space, featuring new feature paving, restored historic cobbles, bespoke market stalls with traditional coverings, upgraded facilities, and stylish street furniture. These improvements create an inviting environment where visitors can shop, relax, and enjoy the heart of Chesterfield. The redesigned layout offers wider, more open avenues for shoppers to explore, along with a new central flexible space designed to host a variety of events throughout the year. It is the first major area to be completed as part of Chesterfield Borough Council’s multi-million pound Revitalising the Heart of Chesterfield project. The first full day of trading in Market Place took place on Thursday 18 September. Councillor Kate Sarvent, Chesterfield Borough Council’s cabinet member for town centres and visitor economy, said: “This is the start of a new chapter for our town centre, with the historic market at its heart. The improvements we’ve made will ensure we can attract great traders and more customers to Chesterfield for many years to come.” Capital Angling hooks first unit at Origin’s ARK Capital Angling has snapped up the first unit at ARK, a new £27m GDV scheme at Markham Vale, an industrial scheme delivered by HBD. ARK is being developed by Origin, a joint venture partnership between HBD and Feldberg Capital. The fishing brand has taken a 17,050 sq ft unit at the sustainable new industrial and logistics (I&L) development close to the M1 in Chesterfield. Work began on-site in Spring 2025 to deliver the first phase of ARK, which includes four units ranging from 17,000 sq ft to 36,000 sq ft. The buildings will complete later this year. HBD recently submitted a planning application for the final 53,000 sq ft unit at the scheme. Work is expected to begin on-site later this year subject to planning consent. Vivienne Clements, executive director at HBD, said: “Markham Vale is an attractive location for fast-growing businesses like Capital Angling, which can take advantage of its strategic location right off the M1 and its excellent infrastructure.” Tilia Homes to deliver 560 new homes at Ashton Green Leicester’s Ashton Green development is set to enter its fourth phase with Tilia Homes appointed as the preferred developer. The company plans to build approximately 560 homes across 55 acres, with up to 30% designated as affordable housing for rent or shared ownership. Ashton Green, a 320-acre mixed-use project on the city’s northern edge, is planned to eventually deliver around 3,000 homes alongside community, health, retail, and employment facilities. The first 100 houses were completed in 2020. The second phase has delivered 245 of 307 homes, while a third phase of 441 dwellings is expected to begin next year. Leicester City Council is the main landowner and promoter of the development, with the Diocese of Leicester owning 13 acres of the site. The fourth phase will start once planning permission is secured, continuing the city’s efforts to meet housing demand and support local economic growth. Tilia Homes, part of the untypical group, previously delivered the second phase of Ashton Green and will continue its work under the Tilia Homes brand, focusing on sustainable residential communities aligned with Leicester’s growth strategy. 14 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk PROPERTY NEWS © Leicester City CouncilHealth and Wellbeing Hub reaches new heights in Worksop A significant milestone has been marked in the construction of an £8.5m Health and Wellbeing Hub in Worksop, with a steel signing ceremony held. Builders Tilbury Douglas are transforming the long vacant site on Newgate Street, which is owned by Bassetlaw District Council, and when completed the building will be leased to the NHS and operated by the Newgate Medical Group. Cllr Julie Leigh, leader of Bassetlaw District Council said: “This marks a major step forward in transforming the once-vacant site into a new Health and Wellbeing Hub that will benefit residents and patients throughout the area. “A great deal of work has gone into reaching this point, and we’re excited to continue working closely with our NHS partners to bring this important development to life.” The healthcare hub is on track for completion early next year and will enhance both accessibility and capacity for patients. It will include 24 consulting rooms, three treatment rooms and additional space for administration and support services. Paul Ellenor, regional director at Tilbury Douglas, said: “The steel signing ceremony represents an important milestone in the delivery of the Newgate Street Health & Wellbeing Hub.” Major student accommodation scheme completes in Nottingham McLaren Construction Midlands and North has reached practical completion on a landmark 323-bedroom student accommodation scheme in the heart of Nottingham. Delivered on behalf of McLaren Property, the £26m scheme now known as Fabric, which is located at 77 Talbot Street, has transformed the site of a former office block into high-specification student living. Designed by Leonard Design Architects, the nine-storey building offers a mix of en-suite cluster bedrooms and premium studios, alongside amenities including a gym, yoga studio, cinema room and social study spaces. The top floor features large-format studios with panoramic views across the city. The development has achieved BREEAM Excellent and incorporates traditional foundations into the city’s sandstone bedrock, alongside specialist works which have included cave probing to meet complex planning conditions. Around 40% of the workforce has been sourced locally, supporting regional employment and skills. Housebuilder secures land for 161 new homes in Corby Allison Homes East is set to bring 161 new homes to Priors Hall Park in Corby, after acquiring land within the new community. The development will provide a mix of one, two, three, four and five bedroom homes. Construction work on the site, which spans just over nine and a half acres, is due to commence in March next year. Set within 907 acres of parkland, Priors Hall Park is a new community being delivered by master developer Urban&Civic. Already home to key facilities such as Priors Hall Park Primary School, Corby Business Academy, a district centre with nine shops and services, four large play areas and an amphitheatre, the development is designed to grow with its community. At completion, Priors Hall Park will include 5,325 homes, two additional primary schools, more sports pitches, formal green spaces and further community infrastructure. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 15 PROPERTY NEWS © Bassetlaw District Council Phase one at Priors Hall Park16 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY W ith a raft of redevelopment and regeneration projects making progress, the East Midlands is a region undergoing significant change. Indeed, in the last couple of months alone major milestones have been reached. G F Tomlinson, for example, has completed phase 1 of the multi-million- pound redevelopment of the former Sutton on Sea Colonnade and Pleasure Gardens. The project, delivered in partnership with East Lindsey District Council, CPMG Architects, and Alan Wood Associates through the Pagabo Medium Works framework, marks a significant step in the transformation of the coastal landmark. The recently completed redevelopment includes a pavilion featuring space suitable for a sea-view café or restaurant fit-out and a modern exhibition area. Enhancements to the former Pleasure Gardens provide recreational areas and open community space, alongside a base to receive 15 new beach huts supplied by the Council. A link bridge now connects the promenade to the new Seaview Colonnade, improving public access and the visitor experience. Popular nearby existing features have been retained, which include the refurbished paddling pool, tennis court, and anchor water feature. Adrian Grocock, group managing director at G F Tomlinson, said: “Delivering this project has been a privilege, and we are pleased to see the colonnade restored as a key destination for the local community and visitors. The redevelopment balances modern enhancements with the area’s heritage, creating a space that will bring long-term benefits to Sutton on Sea.” The scheme followed Henry Brothers Construction handing over a new workspace development in Leicester, created from a cluster of heritage buildings. The conversion at the former Pilot House site on King Street – now named Canopy – will open this autumn, with nine of the 25 Regional redevelopment projects rage on A region of transformation, redevelopment and regeneration projects are gathering pace across the East Midlands. 18 ÁHenry Brothers Construction has handed over ‘Canopy’, a new workspace development in Leicester. G F Tomlinson has completed phase 1 of the redevelopment of the former Sutton on Sea Colonnade and Pleasure Gardens, which was celebrated with a time capsule burial 18 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY available workspaces for creative businesses already let. Leicester City Council is leading the £13.3m project to transform the former factory buildings into a new development offering 40,000 sq ft of accommodation for creative businesses. The redevelopment will provide a range of workspaces, alongside meeting rooms and conference facilities, a co-working lounge, reception area, and outdoor courtyard. The public will also be able to enjoy Canopy’s central hub area which will present event and exhibition space and a café. Existing heritage features – including exposed brick and beams and original parquet flooring – have been retained. These are complemented with contemporary elements such as a glazed roof in the central hub area and a new entrance on King Street. The design of the new scheme was developed by rg+p, which will relocate its Leicester studio to Canopy. Major demolition works, meanwhile, are progressing at Northampton’s 35–45 Abington Street as the regeneration of the town centre picks up pace. The removal of long-vacant buildings, including the former M&S, BHS, and Job Centre, is clearing the way for a new development that will bring modern homes, retail, and leisure opportunities to the heart of the town. Specialist contractor Colemans has completed key preparatory works, involving internal soft strip, services disconnection, and the safe removal of asbestos. Hoarding and scaffolding have been installed along Abington Street and Wellington Street, and heavy machinery, including 40- tonne and 70-tonne excavators, has entered the site to begin mechanical demolition, initially focusing on the former M&S building. Once demolition is complete, the site will be transformed into a residential-led development with flexible ground-floor units for retail and leisure. Furthermore, in Nottingham, Wavensmere Homes has been selected to bring forward the Waterway House site, accessed off Crocus Street, just south of Nottingham Railway Station and tram stop. The residential development opportunity has been promoted through the planning process by Rainier Developments and Strategic Land, with full consent granted by the City Council last year. The existing site comprises Waterway House – a vacant 1970s two- storey office building with around 750 sq m of floorspace – and cleared hardstanding areas. Previously owned by Nottingham City Council, the site has lain largely vacant and unoccupied since 2021. Wavensmere has appointed architects Corstorphine and Wright to work up new plans for a residential scheme. Public consultation on the new design proposals is expected to take place before the end of this year, prior to a planning application being submitted. James Dickens, managing director of Wavensmere Homes, said: “Nottingham has been a key target for us for several years, but the site needed to be right. Our Nightingale Quarter development is moments away from Derby Train Station, while Canalside South is next to Wolverhampton Transport Interchange. Given its sustainable city centre location – by the train station and tram stops – we are very excited about the potential for the Waterway House site, which is a genuine gateway into Nottingham’s city core. It’s the opportunity we’ve been waiting for and we’re delighted to be selected by Rainier to take this site forward.” Finally, laying out plans for future redevelopment, Derby City Council has formally adopted new Interim Planning Guidance (IPG) for a new quarter around the city’s main train station. The proposed Station Quarter will create a sustainable urban community, and a transport hub fit for the 21st Century. Adopting the IPG paves the way for the Council to bid for funding to deliver what would be a major scheme at one of the city’s main gateways. As Derby City Council works on its new Local Plan, the IPG document will set the direction for the redevelopment of the area in the meantime. This will ensure a coordinated approach to any planning applications in the area. At the heart of the proposals is the restoration of www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 19 COMMERCIAL PROPERTY historic buildings, allowing the delivery of new and improved spaces for hospitality, meeting up, and entertainment. Coupled with this is the construction of up to 1,500 new city centre homes. Councillor Nadine Peatfield, leader of Derby City Council and cabinet member for city centre, regeneration, strategy and policy, added: “Adopting this IPG document is a significant step in the Station Quarter project. With this guidance, we will now be able to begin seeking funding to develop the plans further. As one of the main gateways to our city for millions every year, it’s crucial that the area around Derby Railway Station offers an attractive and welcoming environment. These plans will create a vibrant and thriving hub for living, working, and leisure that can serve as a catalyst for wider growth in the city.” These projects represent just a handful of those making progress across the East Midlands, as the region welcomes a wealth of redevelopment and regeneration schemes. Wavensmere Homes has been selected to bring forward the Waterway House site in Nottingham. Pictured are Richard Mees of Rainier Developments and James Dickens of Wavensmere Homes Next >