Cooper Parry completes duo of deals
East Midlands accountancy firm Cooper Parry (CP) has completed two deals, welcoming UHY Hacker Young Manchester and Haines Watts Thames Valley/Reading to CP.
The acquisitions are CP’s ninth and tenth since 2023, and have seen the business quadruple in size since partnering with Waterland Private Equity in 2022.
The deals see CP expand into the Northwest powerhouse and the UK’s ‘Silicon Valley’, two key geographies for fast-growing mid-market businesses. They also add 200 people across Audit, Tax, Outsourcing and Deals, including 17 Partners, taking CP’s headcount to over 1,400.
The news comes hot on the heels of CP’s recent acquisition of fast-growing London-based Salesforce consultancy, Cloud Orca, and the launch of ATLAST, the global professional services firms’ community CP co-founded.
Ade Cheatham, CP CEO, said: “Two landmark deals over the last couple of days confirms our ambition to create the UK’s next gen professional services group. Acquiring UHY Hacker Young Manchester allows us to establish a powerful presence in the Northwest.
“In the same way, the Thames Valley deal accelerates our growth down the M4 to create the #1 advisory firm in the UK’s ‘Silicon Valley’ and Southwest.
“Our presence at the centre of every key UK business powerhouse – as one iconic and rebellious brand – is key to supercharging the next phase of our expansion and market leadership.
“What Dave Kendrick, Ben Loveday and their talented teams have created gives CP two perfect platforms from which to launch further UK acquisitions, strategic hires and specialist team lifts.”
Dave Kendrick, UHY Hacker Young Manchester CEO, said: “I am hugely proud of what we have achieved over the last few years as a team and taking our amazing 160+ strong team into the Cooper Parry business feels the perfect fit.
“Our growth ambitions, culture, team ethic and industry specialisms feel very much aligned and we now have the platform to dominate the Northwest region as the leading advisory firm.”
Ben Loveday, Haines Watts Thames Valley Managing Partner, added: “I’m really proud of what our team has been able to build here over the years. Looking ahead – and having seen the success of the recent Haines Watts London and Southeast integration – we see Cooper Parry as an ideal fit.
“Culturally and commercially, we’re perfectly aligned to take advantage of the enormous opportunity the Thames Valley presents.”
Experian completes acquisition down under
Experian, the data and technology company, has completed its A$820 million acquisition of consumer and commercial credit bureau, illion, in Australia and New Zealand.
The acquisition and integration of illion’s 500 strong team, data, software and intellectual property into Experian will create a unified business that brings together complementary capabilities, assets, people and customers. The combined organisation is set to enhance market choice and deliver powerful, data-driven solutions for businesses and consumers across the region.
Malin Holmberg, CEO Experian EMEA and Asia Pacific region, said: “Having successfully led the Australia and New Zealand business for the past seven years, Andrew Black, will take leadership of the combined organisation, overseeing the strategic integration and growth plans, leveraging our global innovations.”
Experian A/NZ CEO Andrew Black said Experian’s five-year strategic plan will quickly unlock value of the combined team and capabilities, with the first phase balancing speed and service continuity for customers.
“This is a historic day for our business, our people and our customers – and it’s just the beginning,” Black said. “Through this acquisition we aim to continue our growth trajectory in Australia and New Zealand, significantly expand our market and bring new capabilities to redefine what a data-driven technology business can be.
“illion has built an impressive product portfolio, data assets and customer base that are diverse and complementary to Experian’s strengths and we have a robust integration plan that will enable our customers to quickly realise the benefits of the combined entities.
“One of the big wins here is the combined data assets which will provide more choice for our customers. This is going to supercharge our product and service capabilities, in alignment with Experian’s global strategy, in a way that simply hasn’t been possible before.”
Black confirmed that the new combined entity will be rebranded to Experian, likely within the next 12 months, although some of the illion product names that have gained credible market awareness will continue.
Experian confirmed that John Banfield, CEO of illion, will be stepping down following the successful completion of the acquisition. Banfield played a pivotal role in transforming illion’s performance and culture, culminating in the company’s acquisition by Experian.
Rothera Bray LLP merges with Massers
Rothera Bray LLP, the East Midlands law firm, has merged with Massers. The merger is a key part of the firm’s ambitious growth plans and marks a significant step forward in expanding its team and service offerings.
The newly merged firm will continue under the name Rothera Bray LLP, with an expected turnover of £20 million for the 2025-2026 financial year.
As part of the merger, all 30 Massers employees have joined the Rothera Bray team. The Massers office in West Bridgford will remain open, while staff from Massers’ Nottingham office will be relocating to Rothera Bray’s Nottingham office in the Lace Market, centralising services and strengthening the team.
Christina Yardley, CEO at Rothera Bray LLP, commented on the merger: “We have a mutual commitment to grow the firm, which represents a fantastic opportunity for everyone to progress in their careers.
“By combining the best skills and abilities from both teams, we can continue to deliver the highest level of service to our clients. People-driven values, which are fundamental to both firms, are at the core of this merger.
“Together, we look forward to continuing our shared commitment to excellence and driving our firm’s future growth, while creating more opportunities for our teams and delivering exceptional results for our clients.”
Massers Director Tim Brooke stated: “From our initial discussions, it was clear that Massers and Rothera Bray share a strong commitment to the same core values and a focus on exceptional client care.
“The entire Massers team is enthusiastic about the opportunities this merger presents. In addition to continuing our excellent service, we are excited to offer our loyal clients access to a wider range of services that we previously could not provide.”
As part of the merger, key members of the Massers team will assume prominent leadership roles within Rothera Bray, contributing to the growth and enhancement of the firm’s services across the East Midlands.
Litigation Director James Carley will oversee and expand the firm’s Litigation services in Leicester, while Conveyancing Director Tim Brooke joins forces with Conveyancing Partner Michelle Young to further develop the firm’s conveyancing services across the counties.
Wills and Probate Director Richard Jackson will lead Rothera Bray’s Private Client team in Derby, and the Commercial Property team in Nottingham will be under the leadership of Corporate and Commercial Director Russell Thompson.
Additionally, Wills and Probate Director Martin Witherspoon, formerly of Sharp & Partners, returns to Rothera Bray to head the Private Client team in West Bridgford.
Ownership restructure sees Derby video and photography firm relaunch as a content creation company
Video and photography firm ‘AV IT! Media is relaunching as a content creation company after an ownership restructure and the appointment of three new members of staff.
The firm, which is based in Derby, has been taken over by co-owner Mark Averill and his partner Jenny Hudson, who have bought out former partner Ash Stanley.
The couple have drawn up an ambitious expansion strategy which they’re describing as the beginning of a new era for ‘AV IT! Media.
The move has coincided with the appointment of three new recruits, including Georgia Unwin who will provide social media support to a host of clients and help with ‘AV IT!’s own marketing and communication, along with storyboarding for video shoots.
Andy Brailsford, who is an experienced photographer, will be responsible for managing the automotive photography arm of the business and will also support at events.
Experienced videographer and editor Louis Greatorex completes the team, following the completion of successful campaigns for ‘AV IT! Media with both Derby Museums and Aston Villa Football Club.
Mark said: “We have built a solid reputation for creativity and quality and our vision is to continue delivering exceptional service to our clients while also exploring new opportunities for growth.
“With full ownership, Jenny and I can move forward with a unified vision, invest in new technologies, and expand our services to meet the growing needs of our clients. The addition of new staff members brings fresh perspectives and expertise, which will be instrumental in driving our next phase of growth.”
‘AV IT! Media has been supplying videography and photography to clients across the UK for six years and works with companies including Derby County, Bowmer and Kirkland, Derby City Council and HUUB.
Last year the firm teamed up with Gino D’Acampo to help the celebrity chef launch his latest range of pizza ovens, beating competition from large London agencies to secure the contract.
Jenny Hudson, who has been the company secretary and played a pivotal role in managing the business since its inception, will now be stepping into the role of Director.
Jenny said: “As visual storytellers with years of experience, we’re expanding our expertise to a broader range of creative services.
“Our expansion plans are ambitious, but with the talented team we have and the strong relationships we’ve built with our clients, we’re confident that the future is full of promise for AV IT!”
£8.8 million skills hub progresses in Mansfield
The creation of an £8.8 million skills hub to train people for careers in emerging industries and help businesses adapt to new technologies has taken a major step forward.
Education and council leaders joined construction specialists to see the state-of-the-art building – called the Future Tech Skills and Knowledge Exchange – take shape at West Nottinghamshire College’s Chesterfield Road campus in Mansfield.
A large steel frame that makes up the ‘skeleton’ of the structure has been erected, taking it into the next phase of development, which will involve constructing the external elevations, masonry work, installing windows and doors, and completing roof coverings.
Due for completion in summer 2025, the flagship facility will accommodate around 300 college students and will deliver qualifications at level 3 and above, with a strong focus on innovation and STEM (science, technology, engineering and maths) subjects.
Incorporating facilities to support construction, engineering and digital technologies, it aims to prepare Mansfield to meet future labour market needs, plug skills gaps, and create better-paid jobs, particularly in sectors that are growing through advances in technology and automation.
This latest college building will provide 1,343 sq m of teaching space across two floors and be a focal delivery point for T Levels – technical-based qualifications developed in collaboration with employers.
Gavin Peake, director of IT, estates and learning resources at the college, said: “It is exciting to see the building move into its ‘above ground’ phase of construction. Once complete, it will be used by a variety of STEM subjects to deliver high-quality education and training in both existing and emerging sectors.
“This new facility, in the centre of Mansfield, will enable our students to study towards innovative careers in areas such as engineering, construction and digital, and fill skills gaps for many local firms. It will be an extremely welcome addition to the college’s estate and will further strengthen our links with employers in responding to future-facing job roles.”
Darren Chapman, operations director at Clegg Construction, the building contractor leading on the site’s development, said: “We are delighted to be working with one of the leading further education providers in the East Midlands on the construction of its Future Tech Skills and Knowledge Exchange hub.
“As a Nottinghamshire-based contractor, several of our staff, including me, are West Nottinghamshire College alumni and neighbours. We are especially excited to be involved in the creation of these new facilities, which will support the future training of professionals in a range of sectors, including our multi-faceted construction industry.”
Merger sees TC Group strengthen Lincolnshire presence
TC Group, the firm of accountants and tax advisers, has completed a merger with Lincolnshire-based accountancy practice, Brooks & Partners, to form ‘TC Brooks & Partners’.
This deal continues TC Group’s M&A Strategy and enhances the firm’s more than 30 locations across the UK.
Brooks & Partners provide a full range of accountancy services. Their team in Stamford possess extensive expertise across various tax domains and business sectors, enabling them to provide comprehensive services to a diverse clientele, ranging from individuals and small enterprises to large corporate organisations.
Fay Brooks and Kate Howitt, Partners at Brooks & Partners, said: “We are thrilled to join TC Group, marking an exciting chapter in our journey. This partnership will help us work more closely with our clients, offering even better services and support. Our team is eager to meet and collaborate with the new team, building strong relationships and continuing to grow for the benefit of our clients.”
TC Group Partner, Keir Warwick said: “We are delighted to merge with Brooks & Partners, Stamford has always been an area in our sights and Brooks has a great reputation. As a result of this merger we now have a really strong presence in the town and I cannot wait to get started and grow it further with Kate and Fay.”
Frasers Group’s offer for Mulberry rejected
Shirebrook-based retail giant Frasers Group has made an offer for fashion brand Mulberry, which has been rejected.
Yesterday (30 September), Frasers, which is a significant minority shareholder owning approximately 37% of the issued share capital of Mulberry, revealed a possible cash offer for the business.
Under the terms of the deal, Mulberry shareholders would have been entitled to receive 130 pence in cash for each Mulberry share. This implies a valuation of approximately £83 million for the entire issued, and to be issued, ordinary share capital of Mulberry, or approximately £52.4 million for the entire issued and to be issued share capital of Mulberry that Frasers does not own.
The offer followed Mulberry announcing a proposed subscription for 10,000,000 new ordinary shares in the capital of the company by Challice Ltd (the company’s 56.1% majority shareholder), at a price of £1 per share, and a separate offer to existing shareholders of the company of up to 750,000 new ordinary shares at the subscription price. Frasers said: “As a significant minority shareholder, owning approximately 37% of the issued share capital of Mulberry, Frasers was not aware of the Proposed Subscription until immediately prior to its announcement. Frasers first invested in Mulberry in February 2020 and grew its holding to approximately 37% that same year. “As a committed long-term investor in Mulberry, Frasers would have been willing to underwrite the subscription in its entirety, potentially on better terms for the Company. Given this total lack of engagement, we believe the status quo to be an untenable position for Frasers and the other minority holders of Mulberry shares.” The firm added: “We have long been supportive of the brand and commercial opportunities available to the Company. With our leading retail expertise and presence, and best in class distribution capability, we believe Frasers to be the best steward for returning Mulberry to profitability. “As highlighted in the Subscription Announcement, as a standalone business, the Company is facing unabating difficulties. To name a few, rising costs, macro-economic headwinds, and increased selectivity from its discretionary customer base. Frasers are exceptionally concerned by the audit opinion in the latest annual report released on Friday, 27 September 2024, which notes a ‘material uncertainty related to going concern’. As a 37% shareholder, Frasers will not accept another Debenhams situation where a perfectly viable business is run into administration.” Mulberry, however, has now rejected Frasers’ offer. Mulberry shared: “The Board believes that the combination of the recent appointment of Andrea Baldo as CEO alongside the recently announced Subscription and Retail Offer provides the Company with a solid platform to execute a turnaround and, ultimately, to deliver best value for all Mulberry shareholders. “In light of this, the Board has concluded that the Possible Offer does not recognise the Company’s substantial future potential value. In addition, the Board has been informed that Challice is supportive of the Company’s strategy and has no interest in supporting the Possible Offer. As a result of the above, the Board has rejected the Possible Offer.”Employing people with criminal records could boost East Midlands recruitment says Chamber as it backs launch of new charter
East Midlands businesses could plug gaps in their workforce by hiring people with a criminal record, East Midlands Chamber has said, announcing support for a new Alliance and Employment Charter set to launch with a “Go Live” event on 2nd October.
The UK Fair Chance Business Alliance encourages employers to open up recruitment and career progression to people that have previously offended by promoting the benefits to businesses, and providing employers with resources to safely, successfully and sustainably leverage the talent pool.
The “Go Live” event will detail the mission, overview the Charter itself, plans for the future and those businesses already involved.
East Midlands Chamber Chief Executive Scott Knowles said: “In our Quarterly Economic Survey six out of ten respondents reported having difficulty finding suitable candidates to fill roles. The Chamber has supported prisons in Derbyshire, Nottinghamshire and Leicestershire on their employment advisory boards so supporting the Fair Chance Business Alliance and its ‘Go Live’ event to launch the Charter is a natural progression that builds on that work.
“By embracing, not excluding those with a criminal record, businesses can really take advantage of the vast expanse of this talent pool. Widening the approach to employment would take the pressure off the recruitment process, increasing the number of skilled applicants and, ultimately, productivity.
“One of the best things about the Charter is the way it can provide resources and training to employers that sign up to it, so I’d really urge any business that’s struggled with recruitment to attend the Go Live event and consider joining the Fair Chance Business Alliance.”
Fair Chance Business Alliance Chair Keith Jones said: “Overlooking this large group of candidates at a time when businesses are struggling to both attract and retain talent would be overlooking huge potential. Eight million British adults of working age have a criminal record, so to discount the opportunity presented by this talent pool would be limiting employers’ scope to find the best candidates.
“In addition to filling a vacancy, research shows that businesses gain a more inclusive and diverse workspace. Not only are businesses that join the Alliance likely to see an increase in the number of applications for a role, but customers have the added comfort of knowing the business is community minded.
“Being an employer-led initiative, the Alliance is set up to make implementation easy; we have practical resources to help businesses recruit aligned to the UK’s first dedicated three-tier charter for recruiting and progressing people with criminal records – a disability confident for the Justice sector. A business can ultimately become a ‘Champion’ of Fair Chance Employment, showing that it’s a truly inclusive workplace.”
BDO Midlands welcomes new UK Managing Partner
Kyla Bellingall, Regional Managing Partner at BDO in the Midlands, has welcomed BDO UK’s new Managing Partner who begins his new role today [1 Oct 2024] restating the firm’s commitment to the mid market.
Describing the mid market as the ‘economic engine’ powering UK growth, BDO UK’s new Managing Partner, Mark Shaw, praised the impact these businesses have on growth, skills and employment in the region and across the country.
In the Midlands, there are more than 4,000 mid-sized businesses generating £224bn in revenues. UK-wide, the mid market is responsible for one in three private sector jobs and has revenues equivalent to half the value of UK GDP.
Mark also used his day one message to emphasise the importance of regional offices to BDO’s future success.
“We are proud of our regional network and the knowledge and market understanding of those who work there. Our close connection to local markets allows us to make a difference to regional growth benefiting local economies,” said Mark.
Today also marks the commencement of a new Leadership Team at BDO, which includes Midlands Managing Partner, Kyla Bellingall. Kyla’s national leadership team role sees her responsible for the strategic direction of regions, markets and sectors for the firm.
Kyla has more than 25 years’ experience having joined the profession as a school leaver apprentice. She joined BDO as an Audit Partner in 2015.
Commenting, Bellingall said: “The growth of our Midlands practice is a reflection of BDO’s growth and investment as a firm overall. Our core market of mid-sized, ambitious and entrepreneurially-spirited businesses has demonstrated strength and resilience during a challenging economic period.
“It is an exciting time for Mark, and I am delighted to be part of the new Leadership Team with a firm focus on the regions, where we will collectively build on our heritage while looking to the future.”
Mark Shaw, BDO Managing Partner, added: “I look forward to working with our talented partners and colleagues to achieve balanced growth over the coming years; one that puts serving the public interest, our culture and the wellbeing of our people at its heart.”
Mark takes on the role at an exciting time for BDO. The firm, which has 18 offices across the UK and employs 8,000 people, is fast approaching the £1bn revenue milestone. This has been done through controlled growth across all parts of the firm.
Last year, BDO also invested £120m back into the business – the largest annual investment in the firm’s 100-year history.
East Midlands business leaders invited to make their voices heard on new board
A new board that will strengthen links between businesses and East Midlands Combined County Authority is recruiting members.
Representatives from businesses of all sizes across the East Midlands can submit their interest in joining the Business Advisory Board until Friday 11 October.
The board will provide strategy, advice and guidance to the main EMCCA Board, EMCCA’s committees and Mayor Claire Ward, helping to ensure the experience and knowledge of regional businesses is harnessed when making decisions around the economy, skills, transport, housing and the transition to net-zero.
The Business Advisory Board, chaired by David Williams, Chairman of Geldards, one of the UK’s leading law firms, will meet at least four times a year to shape policy and engage with wider stakeholder networks and activity. Mayor Claire will sit on the Board to hear the voice of business first-hand.
The new East Midlands Combined County Authority (EMCCA) has more powers, more funding and more control devolved from Westminster. Covering Derby, Derbyshire, Nottingham and Nottinghamshire, it is uniquely placed to put the region first, speak with a strong voice and exercise powers to boost the region.
The Business Advisory Board will have 16 members from the private and public sector and East Midlands Chamber of Commerce. Private sector representatives will include experts from large businesses, small and medium enterprises and sectors with a significant chance of attracting further investment.
Members of the Board will be expected to have a good understanding of the East Midlands region and the business sectors that operate within it, experience of leadership roles in business and understand the challenges faced by businesses.
Anyone interested in joining the board must apply by Friday 11 October. There will be a shortlisting process and interview panel for applicants in the second half of October.
