Nottingham-based IT company recognised in FT 1000 List of Europe’s Fastest-Growing Companies

Nottingham-based IT company Reformed IT has been featured in the FT 1000, the Financial Times’ annual ranking of Europe’s fastest-growing companies compiled in collaboration with Statista.

Reformed IT has been included after achieving an impressive absolute growth rate of 193.9% and a compound annual growth rate (CAGR) of 43.2% between 2020 and 2023. The company’s revenue surged from £456,000 in 2020 to £1,384,000 in 2023, while its workforce nearly doubled from six employees to eleven during the same period.

The FT 1000 list is a testament to innovation and economic growth across Europe, identifying companies that have demonstrated exceptional performance and resilience. The full ranking was published on March 4, 2025, with Reformed IT earning its well-deserved spot among Europe’s most dynamic businesses.

Reformed IT’s remarkable growth trajectory reflects its commitment to excellence and its strategic vision in the IT sector. This achievement not only underscores the company’s significant contributions to the local economy in Nottingham but also its impact on the broader European market.

“This accomplishment is a reflection of our dedicated team’s hard work and our unwavering commitment to delivering exceptional value to our customers. I would love to thank our incredible team for their continued hard work to get us to this place, and we look forward to building upon this success and continuing our growth journey.”

Equity investment in East Midlands small businesses rises despite fewer deals

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Equity investment in small businesses across the East Midlands grew by 25.5% between Q1 and Q3 2024, despite a 14.9% drop in deals compared to the same period in 2023, according to the British Business Bank’s Small Business Finance Markets report 2024/25. Nationally, half of the UK’s nations and regions saw growth in equity deal value despite challenging economic conditions.

The proportion of small businesses using external finance fell from 50% in Q3 2023 to 43% in Q2 2024. Limited capital and higher borrowing costs due to investor uncertainty remain key barriers to investment. Smaller businesses invested an estimated £12.3 billion in 2024, while larger businesses invested £27.7 billion—2.25 times more—despite contributing a smaller share of total economic turnover.

The report follows the first anniversary of the Midlands Engine Investment Fund II, which has facilitated over £37 million in investments and completed its 100th deal. The fund provides commercial finance, including loans from £25,000 to £100,000, debt financing up to £2 million, and equity investments of up to £5 million.

Challenger and specialist banks continued to gain market share, providing £37.3 billion of the £62.1 billion in gross lending to small businesses in 2024. Their share of gross lending reached 60%, surpassing the UK’s five largest banks for the fourth consecutive year.

Countdown begins for the 14th Annual Property & Business Investment Lincolnshire Expo – Just 3 weeks away

With just three weeks remaining until the highly anticipated 14th Annual Property & Business Investment Lincolnshire Expo, preparations are well underway for what promises to be an exciting and informative event. Sponsored by Team Lincolnshire and the Lincolnshire Chamber of Commerce, the expo serves as a premier networking and knowledge-sharing opportunity for professionals across a wide range of industries, including Property, Construction, Finance, Investment, Inward Investment, Public & Private Sectors, and Professional Services. The expo will take place on 26th March 2025 at the Bentley Hotel, located in South Hykeham, Lincoln (LN6 9NH), offering easy access and ample free parking for all attendees. The event is the perfect platform to explore new business opportunities, gain valuable insights from industry experts, and connect with key decision-makers. This year’s event will feature three speed networking sessions throughout the morning, offering attendees the chance to engage in fast-paced, structured networking with fellow professionals. These sessions are designed to help individuals build valuable connections quickly and effectively. To close the event, there will be a networking lunch at 2:00 PM, hosted by event sponsors Team Lincolnshire and the Lincolnshire Chamber of Commerce. Tickets to the lunch are available for just £15 plus VAT and can be purchased at https://businessshowsgroup.co.uk/product/network-lunch-lincolnshire-delegates/. Registration for the event is now open. For more details on the full schedule of exhibitors, speakers, and networking opportunities, and to register, please visit https://businessshowsgroup.co.uk/register/. Event Details: Date: 26th March 2025 Location: Bentley Hotel, South Hykeham, Lincoln, LN6 9NH Exhibition Opens: 9am Exhibition Closes: 1:45pm Team Lincolnshire & Lincolnshire Chamber of Commerce Lunch £15: 2pm-3:15pm Parking: Free parking available

Chesterfield Canal masterplan launched to boost business and tourism

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A masterplan to restore the Chesterfield Canal and develop the surrounding corridor has been launched, aiming to drive economic growth, tourism, and biodiversity.

The plan outlines opportunities for new businesses, water-based training, paddlesports, cycling and walking trails, and habitat restoration. Eighteen hubs have been identified along the corridor, focusing on regeneration between Chesterfield and Kiveton Park.

The initiative, commissioned by the Chesterfield Canal Partnership and developed by Focus Consultants and Sigma Architects, was presented to local government officials, business leaders, and stakeholders in Killamarsh.

The project will be delivered alongside ongoing canal restoration efforts. Since 1989, 12 miles of the canal have been reinstated, with 8.5 miles remaining to achieve full navigation. Local authorities, including Chesterfield Borough Council and Derbyshire County Council, have contributed funding.

The partnership aims to secure additional investment to complete the project and unlock a fully restored canal’s economic and environmental benefits.

EGO Technology acquires Ucan Secure IT to expand recycling capabilities

Burton-on-Trent-based IT disposal firm EGO Technology has acquired Bradford-based Ucan Secure IT, expanding its footprint in secure and sustainable IT recycling.

Founded in 2010, Ucan specialises in recycling redundant IT equipment, including laptops, hard drives, mobile phones, and printers. It operates as a zero-landfill organisation serving businesses, schools, and universities across the UK.

EGO Technology says the acquisition strengthens its position in IT asset disposal (ITAD) by integrating Ucan’s recycling capabilities, which focus on recovering valuable materials such as rare earth metals. The move is part of a broader strategy to enhance UK-based IT recycling solutions that ensure compliance and reduce environmental impact.

Birmingham logistics specialist snaps up Nottinghamshire firm

Eric Elliott Transport has been sold in a transaction intended to “set new industry standards,” according to acquirer Onpoint Group. Having commenced trading in the 1950s, Eric Elliott Transport, based in Gotham, Nottinghamshire, is a provider of haulage and waste removal services in the Midlands. The company owns its fleet of vehicles and offers services to clients in the agriculture, construction, demolition and recycling sectors. In a transaction led by Oliver Rigby, KBS Corporate Deal Executive, Eric Elliott Transport was sold to Onpoint Group, a Birmingham-based global logistics specialist. “We are thrilled to announce the acquisition of Eric Elliott Transport, a move that significantly expands our capabilities and regional presence,” read a statement from Onpoint. “This strategic acquisition strengthens our portfolio by adding specialised expertise and services in key areas, further enabling us to deliver comprehensive solutions to our clients.” Onpoint said its broader range of services now extends to bulk haulage, walking-floor trailers, muck-away services, grab hire, aggregates supply and recycling following the acquisition, complementing its existing logistics solutions to offer customers “a true one-stop-shop experience for all their transport and waste management needs.” Alex Bush, Onpoint’s Commercial Director, said: “This acquisition is a milestone in our growth journey, allowing us to better serve our customers in Nottingham and beyond. “By combining our teams’ experience and capabilities, we are positioned to deliver even greater value, efficiency and sustainability across our operations. “This move is not just about growth for Onpoint Group, it’s about enhancing the customer experience and setting new standards in our industry.” In successfully concluding the deal, KBS Corporate’s Oliver Rigby expressed his thanks to Andrew King of Duncan & Toplis, along with the team at Mackrell Solicitors and in particular James McKimm and Guvvy Sandhu.

Pall-Ex Group names new Chief Operating Officer

Leicestershire logistics operator Pall-Ex Group has promoted Barry Byers to the newly created role of Chief Operating Officer (COO). Since joining the business in 2020 as Managing Director of the UK Business Units, Barry has successfully led the group’s two UK pallet networks—Pall-Ex and Fortec—during what has been a challenging time for the industry. With a wealth of experience gained from a logistics career spanning almost three decades, he will play a pivotal role in driving the business forward and setting its strategic direction for the future. The appointment complements several promotions at the top level of the business, as Pall-Ex Group prepares for growth across its UK and European business units. Kevin Buchanan will continue to drive key strategic company projects as Chief Executive Officer, Barry Byers will take the position of Chief Operating Officer, Dave Dunhill will continue in his role as Chief Technology Officer, and Paul Robins will step into the Chief Financial Officer position. During his five years with the company, Barry has spearheaded several projects that have resulted in exceptional growth for both Pall-Ex and Fortec. He has been the driving force behind the company’s nationwide storage and fulfilment network, opening up a wealth of opportunities for Pall-Ex Group’s members as it evolves to become more than a pallet network. On his new role, Barry commented: “I would like to express my gratitude to the board of directors and the Pall-Ex and Fortec shareholder members for the support they have demonstrated during the past five years. “I have enjoyed my role as Managing Director immensely and am delighted to accept this new challenge to lead the business over the years ahead.” Pall-Ex Group CEO Kevin Buchanan commented: “This is an exciting time for Pall-Ex Group with a lot of major developments coming to fruition over the coming months. “Part of our five-year strategic ambition outlined in 2020 was to make sure there was a clear succession plan in place for the business, and having Barry as Chief Operating Officer was a key part of this plan. “He has made a real impact at Pall-Ex Group since joining us five years ago, and I have every faith that he will continue to accelerate the business on this upward trajectory.”

The Business Hub Work Experience returns to Market Harborough

Last July, with the support of Harborough District Council, The Business Hub Work Experience delivered a unique work experience programme to support 12 students from Welland Park Academy in Market Harborough by tapping into the local, micro-business community. This coming summer, hosted by Market Harborough Building Society, The Business Hub Work Experience will be offering 12 students from Welland Park Academy a chance to develop their communication skills during their work experience week in June/July 2025. In their community space, those 12 students will learn from local business people including one or two from Market Harborough Building Society’s own team about a variety of career paths and the fundamentals of communication in a modern workplace. Gone are the days of making coffee and photocopying; students will be set research tasks and be expected to report back their findings in a presentation format. They will run their own event, from planning through to delegating and delivery and have the opportunity to experience real life networking – a task that can seem daunting to many young people. “Practice helps us overcome our fears of the unknown, and that’s what we will be offering these students,” said Head of Footprint at Market Harborough Building Society, Tim Neal. “Helping young people in our local community is a key part of our Thrive! agenda. “Collaborating with The Business Hub Work Experience™ allows us to focus on this important element and support their future success. “We’re delighted to host and participate in this event and as a proud local employer, our teams are excited to support sessions during the week and see the innovative ideas from the students.” Sam Askham, Careers Lead and Assistant Principal, said of the initiative: “Experiences of workplaces are a vital part of preparing young people for their future careers. “The Business Hub Work Experience™ programme is a fantastic opportunity for Welland Park Academy students to meet a huge range of local employers and develop key skills such as networking, leadership, teamwork and communication. “Feedback from last year’s programme was outstanding and I’m so pleased that our students will have the chance to work with Nicola, her team and local employers again.” Nicola Moss, Founder of The Business Hub Work Experience, said: “We’re excited to develop this initiative further, with the intention being to create more solid connections between local businesses and our local schools to support and develop local talent, benefiting the whole community.” If you’d like to donate time to receive a phone call, volunteer for a day or even sponsor, please complete this short form to offer your support https://bit.ly/CoMHWEX

Construction boss jailed after taking £700,000 from failing companies to fund gambling

A Nottinghamshire construction boss who fraudulently removed more than £700,000 from four failing companies and transferred the money to his casino account has been jailed. Wesley Grainger-Smith, 66, was sentenced to two years and four months in prison at Lincoln Crown Court on Friday 28 February. Grainger-Smith had previously pleaded guilty to five counts of fraudulently removing company property at an earlier hearing. The Insolvency Service also discovered around £570,000 in cash deposits paid back to the companies, which investigators believe may correlate with Grainger-Smith’s claim that he paid most of the money back through his gambling winnings. Mark Stephens, Chief Investigator at the Insolvency Service, said: “Wesley Grainger-Smith removed vast sums of money from failing companies to fund his gambling at casinos. “He cannot have thought he was entitled to recklessly gamble with company money, or that he was acting in the best interests of the four companies where he said he acted as a consultant.

“Directors, or those acting as directors such as Grainger-Smith, will continue to be prosecuted by the Insolvency Service if they deliberately and fraudulently put money out of the reach of creditors.”

Grainger-Smith’s offending took place between 2014 and 2017 when he acted in the role of director for Eagleport Ltd, Smiths Constructions Ltd, Smiths Construction Services Ltd, and Smiths Construction Specialists Ltd. Grainger-Smith said that while he was not the director of any of the companies, he was able to exert influence over the official directors and withdraw the money with their knowledge. Between April 2014 and May 2015, Grainger-Smith removed £230,810 from Eagleport’s account. A winding-up order was made against the company one month later in June 2015. Grainger-Smith then removed £110,250 from Smiths Constructions between April and November 2015, with the company entering liquidation in December of that year. In the five months from February to July 2016, Grainger-Smith fraudulently transferred £84,600 from the bank account of Smiths Construction Services. A liquidator was appointed for Smiths Construction Services in September of that year. Grainger-Smith’s final fraudulent removal of company funds came between August 2016 and February 2017, when he withdrew £276,390 from the account of Smiths Construction Specialists. Smiths Construction Specialists, as with the other three companies, soon stopped trading after the removal of the funds, with winding-up proceedings beginning in June 2017. In total, Grainger-Smith fraudulently removed £702,050 from the four companies, with the funds going into his casino gaming account. Grainger-Smith was declared bankrupt in March 2017 and was banned as a company director for five years in July of that year as a result of his misconduct at Eagleport. He was disqualified for a further 10 years in June 2019 for his misconduct at Smiths Construction Specialists.

Green light granted for £45m residential development in Witham St Hughs

Housebuilder Honey will build 170 new homes in Witham St Hughs, Lincolnshire after being granted planning permission for a £45m development. Called Nova and located off Warren Lane, the development will comprise a mix of two-, three- and four-bedroom homes. Nova will feature 17 of Honey’s different house types. Of the 170 homes at the development, 28 have been allocated as affordable housing. Work at the development is anticipated to start in April with the first residents expected to move in by November this year. Honey chief executive officer, Mark Mitchell, said: “Our range of new homes being delivered at Nova will meet the strong demand there is for high-specification homes amongst buyers in the local area. “Each home at the development has been thoughtfully designed to combine style, substance and sustainability to offer buyers homes which are unmatched at their price point. “Having now secured planning permission, we look forward to works starting at the site and launching the first homes for sale at this new community we are delivering.”