Transformation nears completion at Glossop Halls
The major regeneration project to rejuvenate Glossop Halls is nearing its end, with building work almost complete and High Peak Borough Council in the final stages of appointing a partner to manage the buildings and the services that will operate from them.
The Council is leading the multi-million pound transformation which will see the historic buildings remain at the heart of the town centre for generations to come.
The construction work is now nearing completion and the Council is in the process of completing the legal work to formally appoint Fork and Field Catering Limited as its operational partner following a recent decision by the Council’s Executive.
Council Leader, Councillor Anthony Mckeown, said: “This is the biggest investment in Glossop’s much-loved heritage buildings for many years. The results are fantastic and we’re so excited for everyone to see this transformation when the doors re-open next year.
“What originally started off as just repairs and replacement of the market roof became a plan, with the additional funding we were able to get, to restore and return the whole complex back to use.
“Buildings of this age and heritage inevitably present challenges and things have taken a little longer than any of us hoped. I’d like to thank people for their ongoing patience whilst we complete these final stages.
“We’re all so impressed by what’s been delivered and we can’t wait to share the results. I can promise it will definitely have been worth the wait!”
The work was funded by the Council with a £2 million grant contribution from the D2N2 Local Enterprise Partnership (now transitioned into East Midlands Combined County Authority) via their Getting Building Fund.
There will new business opportunities, including for creatives and entrepreneurs, as well as new food and drink, leisure and socialising spaces, and places for community use.
Councillor Damien Greenhalgh, Deputy Leader and Executive Councillor for Regeneration, Tourism and Leisure, said: “This is game-changing for Glossop. The major investment we’ve made provides something for everyone and will ensure these buildings are the beating heart of our town now and in the decades to come.
“We are sure, after a rigorous selection and assurance process, that our new operating partner has a clear vision, the right values and ambitious plans for the use of these buildings which match the outstanding new interiors.
“Once the paperwork is complete, we’ll be revealing the name they’ll be trading under in Glossop and sharing more details about what we all have to look forward to in the new year.”
Trio of Venture Builder-backed startups achieve major investment milestones
Three startups supported by the Venture Builder at Nottingham Business School’s Centre for Business and Industry Transformation (CBIT) have achieved significant milestones in investment and growth.
The fully funded Venture Builder programme focuses on nurturing entrepreneurs through a comprehensive suite of support, with key offerings including in-depth business model clinics and innovation sessions, business process and product road mapping, strategic growth hacking, and investment readiness.
These core services are complemented by additional resources tailored to the unique needs of each startup.
PulpaTronics, Quoroom, and Freeaim participated in the programme as part of a cohort that benefited from tailored guidance designed to enhance their ventures.
This included mapping value propositions and business models for more clarity, exploring new customer segments and channels, grant support, evaluating and validating new ideas, and receiving critical product feedback.
The mentorship and sparring partnership approach fostered an environment where these startups could refine their strategies and gain support at every stage of their journey.
Highlighting the potential of entrepreneurial ambition combined with strategic guidance from CBIT’s Venture Builder programme, this latest Venture Builder cohort have since achieved remarkable successes.
PulpaTronics recently closed its funding round with £430K of investment to achieve the company’s mission to deliver fully recyclable, metal-free and chipless RFID tags to track single-use items. The capital will allow them to accelerate product development, launch pilot trials with industry leaders, and expand its operations to meet market demand.
Freeaim – creator of Virtual Reality robotic shoes that allow the user to walk naturally in any direction while fully immersed in VR – raised £250K pre-seed funding. This investment will facilitate the immediate launch of a developer version of its flagship VR shoes and support scaling production for a full consumer release in 2025.
Quoroom, an investment management platform for angel syndicates, VC funds and founders achieved a major milestone by acquiring Investory, a company working in the angel investing sector. This acquisition added over 30 funds and angel investor groups as clients, with approximately 1,000 companies using its services.
Chloe So, co-founder & CEO of PulpaTronics, said: “Having just closed our pre-seed funding round, the timing of joining CBIT could not have aligned any better. We’ve been able to receive support around go to market strategy as well as new market segments. They have also been instrumental with grant applications.”
Recently crowned the Technology Innovation Champion at the prestigious UK Innovation Awards 2024, CBIT continues to expand its mission of empowering disruptive businesses to challenge industry norms and redefine what’s possible.
The Venture Builder programme is rooted in a vision to be more than just a support mechanism – it seeks to create a vibrant ecosystem where entrepreneurs are equipped to tackle complex challenges, embrace innovation, and scale with confidence.
Participating start-ups have access to an array of perks, including advanced hardware and software technologies such as drones, AI development-ready stations, 3D printers for prototyping, and credits for essential services like Notion, Miro, AWS, Siemens, Make Automation and other essential tools.
By fostering collaboration and providing access to cutting-edge tools and strategic support, the programme aspires to be a launchpad for businesses that transform industries and create lasting impact. CBIT envisions a future where every venture not only achieves their goals but also contributes to driving meaningful change in their respective industries.
Georgi Iliev, head of the Venture Builder at CBIT, said: “The achievements of PulpaTronics, Freeaim, and Quoroom showcase the value of tailored support and strategic guidance in driving innovation and growth through the Sparring Partnership Approach. At CBIT, we are proud to be a catalyst for their success and to contribute to shaping the future with disruptive businesses that change the industry norms.”
Real estate investment firm sells Leicester industrial estates
Boundary Real Estate Partners has sold an urban Leicester multi-let investment.
The investment comprises adjoining industrial estates with a total of 34 units, configured to provide a mix of functional light industrial, urban logistics and trade units. The site also includes an office complex on a five-acre site with redevelopment potential.
The overall industrial element totals 241,187 sq ft, providing an annual rental income of just under £2 million. Over the last three years of ownership, there have been 21 lettings, renewals and rent reviews across Bridge Park and Pinfold Road Industrial Estates producing an average rental growth of over 12% pa.
Strategically located in Thurmaston, one of Leicester’s prime industrial and logistics areas, the scheme benefits from easy access to the A46, A6 and M1 Motorway, as well as the A607 Melton Road, providing direct access into Leicester City Centre.
Bridge Park & Pinfold Road Industrial Estate was acquired by Boundary in December 2021 as part of the Raynsway Portfolio.
Charlie Walker, Co-Founder of Boundary, says: “Following the completion of the sales programme from the office element of the portfolio, we are delighted to have now finalised the disposal of the industrial segment, following active asset management over the last three years.
“We are now focussed on delivery of the 50 acres of development land next to the A607, following planning permission earlier this year.”
The new development will provide up to 656,620 sq ft of warehouse/industrial space to provide a gateway location into Leicester, injecting capital into the region and providing substantial employment and economic growth, along with protecting, enhancing, and extending the area’s networks of green spaces.
The development will target BREEAM Excellent and EPC A ratings, ensuring that the design, construction and operation of the buildings meet the highest environmental standards and attract best-in-class operators/tenants.
ACRE Capital advised Boundary on the sale of Bridge Park & Pinfold Industrial Estate. The purchaser was represented by APB.
Council to invest in Pleasley Vale Business Park flood measures
Bolsover District Council is to invest more than £770,000 into improving the flood mitigation measures and essential repairs at Pleasley Vale.
After doing extensive surveys on the site, work is now required to:
- bring the condition of the dam wall back up to a standard of repair,
- undertake improvements to Mill 1 pond so it can capture an increased level of water from the river Meden to slow the flow further downstream into Mill 2 and under the culverts in Mill 3,
- improve the fire alarm system,
- improve the drainage network,
- install a brand new lift in Mill 2,
- install flood defence doors to the substation at Mill 1.
IK Partners joins management to acquire majority stake in Dains
IK Partners’ IK X Fund has signed an agreement to invest in Dains Accountants alongside the management team who are significantly re-investing.
IK will succeed Horizon Capital as the majority shareholder. Financial terms of the transaction are not disclosed.
Established in 1926, Dains provides a comprehensive suite of accounting and business advisory services to fast-growing small and medium-sized enterprises (SMEs) in the UK and Ireland.
Following investment from Horizon Capital in 2021, Dains has grown rapidly as a result of 10 strategic acquisitions and organic growth. At present, the company has 765 employees who serve a customer base of over 17,000 clients.
With the support of IK, Dains will look to: continue its strong organic growth in the UK and Ireland; make further investment in its operational platform and recruitment; as well as accelerate its inorganic growth through partnering with strong, complementary firms across the UK and Ireland.
Richard McNeilly, CEO of Dains, said: “We are very excited to be partnering with IK, who we believe possesses the necessary track record and expertise required to successfully support us in this next phase of our development.
“The team’s experience in both the Accounting and Professional Services sector, as well as in executing buy-and-build strategies in the UK and Ireland will be especially important in a fragmented marketplace like ours, where we are looking to drive consolidation and reinforce our strong position as the acquiror of choice.
“We would also like to take this opportunity to thank Luke and his team at Horizon Capital for their unwavering support over the past three years.”
Pete Wilson, Partner at IK Partners and Advisor to IK X Fund, said: “Dains is a strong business with an impressive history of delivering exceptional client services and business growth year on year. The breadth of services offered by their accountancy experts across the UK and Ireland has built an excellent reputation for Dains amongst fast-growing SMEs.
“With our track record in supporting similar businesses in the Business Services sector, we look forward to partnering with Richard and his team in the next phase of the Company’s journey.”
Luke Kingston, Managing Partner at Horizon Capital, added: “We are so proud to have played a part in the growth of Dains over the last three years and to have backed Richard and his team to build a leading business in its niche.
“This was a fantastic investment, and we are thrilled to have delivered an excellent outcome for all stakeholders involved. We wish the Company every success in the future.”
New product demand supports bullish East Midlands firms heading into 2025
Almost nine in 10 (89%) private business owners in the East Midlands are confident of delivering growth in 2025, according to KPMG UK’s first ever Private Enterprise Barometer.
The new poll gauged optimism among 1,500 private business owners, including 126 in the East Midlands, across a range of sectors including professional services, finance, technology, industrial manufacturing and retail.
Increased demand for products and services was identified as the main reason for this confident outlook – cited by more than half (55%) of respondents. Looking ahead, almost three quarters of businesses (72%) in the region have plans to diversify through new products or services in the next five years.
Plans to target international expansion are a lower priority, however, with only 52% of businesses citing this as a key diversification strategy, 11 points below the national average of 63%.
Elsewhere, investment into technology and more specifically AI is a key priority for firms across the East Midlands, with seven in 10 (70%) respondents citing this as the main area of technology they would be looking to invest in in the future.
This investment into AI will support firms across the region to improve customer experience, with two-thirds (66%) of respondents citing this as a key priority.
Securing and developing the necessary skills for businesses to capitalise on these opportunities also remains a key priority for the region though.
Businesses across the East Midlands are generally optimistic about their ability to do this, with almost three in five (59%) expressing confidence in their ability to recruit people with the right qualifications and experience for their businesses – ahead of the national average (55%).
With fewer than a fifth (14%) of firms having difficulty accessing funding, it’s notable that internally generated funds and private equity were seen as the most popular sources of funding to support long-term diversification, ahead of bank debt.
Marc Abrams, Nottingham Office Senior Partner at KPMG UK, said: “Emerging from what many businesses will have experienced as a challenging year, it’s heartening to see that private firms in the East Midlands are optimistic about their 2025 growth prospects.
“Predominantly driven by an increased demand for their products and services, many are primed to make their expansion ambitions a reality in 2025.
“While upskilling continues to be a preoccupation for the region’s businesses, it’s heartening to see that the majority are confident in their ability to address this shortfall through recruitment, feeding into a wider picture of positivity among private business leaders.”
2025 Business Predictions: Jane Biggs, Managing Director at Bygott Biggs
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to legal recruitment expert Jane Biggs, Managing Director at Bygott Biggs.
1) Back to office working policies are definitely making recruitment more challenging, as candidates are voting with their feet to join law firms and in-house teams who offer hybrid or remote working opportunities.
2) Similarly candidates want to see a commitment to ED&I and improving diversity statistics at all levels within law firms. Strong CSR initiatives also help attract the best talent which increasingly focus on what firms are giving back.
3) Generally speaking, law firms continue to publish healthy growth with revenues up year on year. Consolidation still seems high on the agenda and looks set to continue. With a new government there looks set to be a focus on growth in particular legal specialisms such as infrastructure, planning, construction and renewable energy.
They would be my three key predictions. Of course there is also the Budget, where it remains to be seen what the impact will be on areas like corporate, banking and real estate which experienced high levels of activity in the lead up to the Budget.
University of Nottingham spinout secures £340k for electric car technology
University of Nottingham spin-out, The Thinking Pod innovations (TTPi), has secured £340,000 in its first investment round to commercialise pioneering power electronics technology, which reduce the environmental impact and cost of electric vehicles.
TTPi has developed groundbreaking technology in collaboration with the University of Nottingham, which will boost the efficiency and range of electric cars.
The company was founded in 2017 and to date, the firm has been funded through grants from Innovate UK, UKRI, Driving the Electric Revolution and income generated from commercial development agreements with partners such as Advanced Electric Machines, National Grid ESO and Infineon Technologies.
Now, the growing company has sought external equity investment for the first time. In a notable show of support for co-founders and directors Prof Lee Empringham, Dr Liliana de Lillo and their team, the new finance has been provided by fellow academics within the field of power electronics, the University of Nottingham, as well friends and family.
TTPi’s novel technology enables the creation of smaller, lighter, more efficient power converters and motor drive systems, which are essential in electric vehicles, aircraft, and any dynamic industrial processes that rely on electricity as a power source.
Currently, these components can be bulky and heavy, but using TTPi’s knowledge and applications allows them to be packaged into lightweight, compact units that will produce major savings in terms of precious raw material use, energy and cost, and deliver a better performance compared to anything currently available.
“The support for TTPi from fellow academics, friends and family is exceptional,” said company chairman David Whelan, who has over 35 years of business development experience, with particular expertise in expanding companies, while increasing company turnover and profitability.
“I have been working with spin-outs for 15 years and this shows what the investors feel about Lee and Liliana and their colleagues, as well as the future of the company, the technology it is developing and where that can go.
“We believe this technology and the products it supports will make a real difference in the transition to net-zero carbon emissions across multiple industrial sectors.”
This investment in TTPi will facilitate the commercialisation of cutting-edge components aimed at the electric vehicle industry. It will enable further development of TTPi’s DC-to-DC modular converter unit for use in electric vehicles, fund new staff and the creation of commercial licence agreements and patents.
The demand for improved power electronics components is huge, as all industrial sectors strive to manage the environmental impact of production and achieve net-zero greenhouse gas emissions.
The market for more compact and efficient electric vehicle (high-voltage DC-DC) power converters alone, is estimated to be $1.46 billion in 2024, rising to $2.82 billion in 2029.
The interest in and support for TTPi derives from the fact that its technology and modules have already been tested and field-trialled with excellent results.
“Industry is turning to electricity to meet the environmental challenges facing the planet and power electronics is the backbone of our increasingly electrified world,” said Prof Empringham, a leading member of the Power Electronics Machines and Control (PEMC) Research Institute and Standards Chair for the Industrial Power Converter Committee of the IEEE Industrial Application Society.
Prof Empringham explained that in an electric car, for example, a 400V or 800V battery is used to drive the wheels, but other systems like air conditioning and power steering require a lower voltage such as 42V and 12V systems.
“That’s where power converters come in, but their size and weight is currently a problem,” added Prof Empringham who has previously collaborated with leading global companies, including Boeing, GE Aviation, Infineon, Liebherr-Aerospace, Airbus, Ultra Electronics, Jaguar Land Rover.
“TTPi is ideally placed to help meet these challenges and supply these growing markets with state-of-the-art power dense, efficient and sustainable solutions, which includes power converters and motor drive systems.”
TTPi’s converters are lighter than existing products and are currently in prototype testing. TTPi is now working towards Technology Readiness Level (TRL) 6 and samples will be available for third-party testing in Q2 2025. The company plans to undertake a second investment round late next year.
In addition, TTPi recently unveiled its new advisory board, which includes Professor Jon Clare, Emeritus Professor of Power Electronics at the University of Nottingham and a leading international authority on the subject.
He is joined by Dr Simon Hart, an Honorary Associate Professor (Electrification of Transportation) and an Entrepreneur in Residence at the University of Nottingham, who has held senior positions at several technology companies, and Riona Armesmith, CTO at magniX, a company that is pioneering the development of electric aircraft.
TTPi was founded in 2017 and spun out of the University of Nottingham in 2020.
Consultancy constructs charity Christmas hampers
Kind-hearted colleagues at a Northampton-based construction consultancy have spread festive cheer by building Christmas hampers and donating gifts to local families needing support.
Bhangals Construction Consultants wore Christmas jumpers to put together the 100 hampers at their Grange Park base on Tuesday.
The parcels are full of both essential and luxury items including biscuits, tinned goods, pasta, rice, shampoo, conditioner, shower gel, face wash, toothpaste, toothbrushes, chocolates and toys for the children.
It is the sixth consecutive year that the generous team have put together the hampers, which cost a total of £2,000.
The bumper bags were then handed over to innovative community support hub SCCYC Waterside Connect, who work tirelessly to provide vital services to the local community and much needed food and supplies to families living in poverty, and in crisis.
Bhangals Construction Consultants associate operations director Katie Newman said: “We are delighted to be able to support SCCYC Waterside Connect for another year with our Christmas hampers. They are an incredible charity and the work they do makes such a positive impact on families who are struggling, particularly at this time of year.
“Spreading some Christmas spirit brings us all great joy and I hope that our contribution will really make a difference in our valued community.”
East Midlands manufacturers see post-Budget slump in confidence
Business confidence among East Midlands manufacturers has dipped sharply to the lowest level in a year in response to rocketing costs, according to a survey published by Make UK and business advisory firm BDO.
The Make UK/BDO Manufacturing Outlook Q4 survey shows that while output remained positive in the last three months at a balance of +12%, orders fell and are forecast to fall further in the next 3 months to -12%. While recruitment intentions in the region remained stable, the fall in confidence resulted in cutbacks in investment which also turned negative at -12%.
This picture contrasts sharply with the previous survey when almost six in ten companies (58%) saw a brighter economic outlook under a new Government and, bar the immediate post-Covid recovery, when business confidence among manufacturers had reached its highest level in a decade.
According to the survey, 70% of East Midlands manufacturers have seen their costs already increase by up to a fifth in the last year, while almost one in ten (8%) had seen their costs rise by up to a half. In particular, the survey shows almost nine in ten companies (86%) will see their business costs increase due to the Make Work Pay reforms, with almost half of companies (44%) saying the increase will be ‘significant’.
With the Budget set to add substantial extra business costs to those that companies were already facing, in particular the changes to National Insurance Contributions, Make UK has cut its growth forecasts with manufacturing contracting by -0.2% this year and growing by just 0.7% in 2025.
In response, Make UK is urging the Government to look at measures which might help alleviate the impact of rising costs, in particular reforms to business rates and current incentives to decarbonise.
Chris Corkan, Region Director at Make UK in the Midlands, said: “Having faced a cost creep for most of the year, manufacturers in the East Midlands are now facing a cost crisis which has brought a sharp dip in their confidence.
“While overall conditions had begun to gradually improve during the year, the Budget has brought this to a shuddering halt, with the substantial increase in National Insurance Contributions potentially the straw that might break the camel’s back for some.
“There is now an urgent need for Government to look at other measures which might mitigate the impact of the rocketing costs that businesses are now facing.”
Jonathan Lanes, Head of Manufacturing at BDO in the Midlands, said: “While manufacturers across the East Midlands have welcomed the Government’s Industrial Strategy green paper, optimism across the region is declining, driven by increased input costs and the implications of the latest Budget on employment costs.
“Increasing investment in improving productivity is vital now more than ever to maintain stability and offer opportunities for growth across the East Midlands and the wider sector.”
