Tuesday, March 18, 2025

Owner of Boots to be acquired by private equity firm

Tess Egginton
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Owner of Boots to be acquired by private equity firm
Walgreens Boots Alliance, the owner of Nottingham health and beauty retailer Boots, has entered into a definitive agreement to be snapped up by Sycamore Partners, a private equity firm specializing in retail, consumer and distribution-related investments, in an up to $23.7 billion transaction. The company will continue to operate under Walgreens, Boots and its portfolio of consumer brands. WBA will maintain its headquarters in the Chicago area. Tim Wentworth, Chief Executive Officer, Walgreens Boots Alliance, said: “Throughout our history, Walgreens Boots Alliance has played a critical role in the retail healthcare ecosystem. “We are focused on making healthcare delivery more effective, convenient and affordable as we navigate the challenges of a rapidly evolving pharmacy industry and an increasingly complex and competitive retail landscape. “While we are making progress against our ambitious turnaround strategy, meaningful value creation will take time, focus and change that is better managed as a private company. Sycamore will provide us with the expertise and experience of a partner with a strong track record of successful retail turnarounds. “The WBA Board considered all these factors in evaluating this transaction, and we believe this agreement provides shareholders premium cash value, with the ability to benefit from additional value creation going forward from monetization of the VillageMD businesses.” Wentworth added: “Our trusted brands and deep commitment to our customers, patients, communities and team members have and will continue to anchor our business as we realize our goal of being the first choice for pharmacy, retail and health services. “I am grateful to the more than 311,000 team members globally who are fiercely committed to WBA, our customers and patients.” Stefan Kaluzny, Managing Director of Sycamore Partners, said: “For nearly 125 years, Walgreens, and for 175 years, Boots, along with their portfolio of trusted brands, have been integral to the lives of patients and customers. “Sycamore has deep respect for WBA’s talented and dedicated team members, and we are committed to stewarding the Company’s iconic brands. “This transaction reflects our confidence in WBA’s pharmacy-led model and essential role in driving better outcomes for patients, customers and communities.”

Eurocell makes £29m acquisition

Tess Egginton
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Eurocell makes £29m acquisition

Eurocell, the manufacturer, distributor and recycler of PVC window, door and roofline products, has acquired Alunet for £29m.

The deal comprises an initial payment of £22 million and deferred consideration of approximately £7 million payable in four annual instalments beginning in 2026. In addition, there is the potential for performance related payments of up to £6m over the same period.

The acquisition strengthens Eurocell’s position in residential aluminium systems and composite doors, and adds garage doors to its product portfolio.

Alunet includes a stable of home improvement brands and comprises four businesses: Alunet Systems, Comp Door, JDUK, and UK Doors (Midlands). 

For the year ended 31 December 2024, Alunet delivered unaudited revenue of £43m and EBITDA of £4.5m.

Alunet’s retained team, led by Chief Executive Steve Hudson, will strengthen the group’s management and Steve will join Eurocell’s Executive Committee. Alunet employs approximately 200 people.

Darren Waters, Chief Executive Officer at Derbyshire-based Eurocell, said: “Alunet is a great acquisition for Eurocell. It significantly strengthens our position in aluminium, enhances our composite door offering, and adds a premium range of aluminium garage doors to our portfolio of home improvement products.

“Alunet has grown rapidly since its establishment in 2013, and under Eurocell’s ownership, we will leverage our leading market positions in new build, trade fabrication and distribution, to help the business reach its full potential.

“On behalf of the Board I am delighted to welcome the management and employees of Alunet to the Group.”

East Midlands Mayor helps more women build construction careers amidst regional skills shortage

Tess Egginton
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East Midlands Mayor helps more women build construction careers amidst regional skills shortage
Mayor of the East Midlands, Claire Ward, has launched a new drive to help attract more women into the region’s construction industry, which faces a shortfall of more than 17,000 people by 2028. The Mayor highlighted the challenge ahead of International Women’ Day on Saturday 8 March, the annual celebration of the contribution women make to the world around us and a rallying cry for gender equality. The launch was made at an event co-hosted by Nottingham College at the brand new £4.5m Construction Skills Centre at its Basford campus. This year, International Women’s Day has a theme of ‘Accelerating Action’, and Mayor Claire says the need to bring more women into construction is an urgent example of where progress still needs to be made. Alongside Nottingham College CEO and Principal Janet Smith, the Mayor welcomed female leaders from regional construction employers and senior women in education and skills. They saw first-hand the work being done at the college to bring more women into the construction industry and chatted to a group of female students. Mayor Claire used the event to announce that the East Midlands Combined County Authority’s Careers Hub will fund Future Makers, a new initiative connecting young people with businesses, offering hands-on industry experience and guidance to help them explore career pathways. She said: “Encouraging and enabling more women to aim high in life isn’t just the right thing to do, there’s clear evidence it’s vital to the future of our economy. “The forecast skills shortage in construction will not be solved if it remains a male dominated environment. That isn’t just bad for gender equality, it risks holding back ambition and restricting our ability to build and grow. “I’m therefore proud to announce our commitment to the Future Makers project so we can play an active role in breaking down barriers for young women entering construction, offering them the support, confidence, and connections they need to succeed in a traditionally male-dominated industry. “It’s been inspiring to meet and talk with students here at Nottingham College, to see them in action and to understand their passion for progress. In construction and other industries, we need to open up opportunities and encourage women and girls to believe that anything is possible.” Nottingham College CEO and Principal Janet Smith added: “The construction sector in the East Midlands is booming, to the point where we have almost struggled to keep up with demand for skills training. “The new Construction Skills Centre at our Basford campus is part of the answer to this challenge. We have invested heavily in state-of-the-art facilities which combine hands-on skills development with fully digitised classrooms. “While the numbers of women in the industry remains comparatively small, we’re seeing rising demand from female applicants for our courses, not just in traditional trades but in new areas of the industry where there is increasing momentum, such as photo-voltaics, heat pumps and other green skills.”

Midlands Consortiums secure £40.8m to boost electric charge points

Tess Egginton
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Midlands Consortiums secure £40.8m to boost electric charge points
Thirteen local authorities across the Midlands region have received £40.8m of Government funding aimed at getting more electric vehicle charge points into areas with limited off-street parking. A partnership of eight local authorities across the Midlands region, led by Lincolnshire County Council and Worcestershire County Council, have successfully bid for £20.64m of funding. These two consortiums are the last to be approved for funding after five other local authority partners, being led by Nottinghamshire County Council, secured £20.17m, therefore totalling £40.8m of funding for the partnership overall. The funding comes from Government’s Local Electric Vehicle Infrastructure (LEVI) fund, which will help deliver more than 16,000 charge point sockets across the region, with exact numbers determined as part of future contracts. The bid was submitted in 2024. The thirteen local authorities include Derby City Council, Derbyshire County Council, Lincolnshire County Council, Herefordshire Council, Nottingham City Council, Nottinghamshire County Council, Staffordshire County Council, Stoke-on-Trent City Council, Telford & Wrekin Council, Worcestershire County Council, Warwickshire County Council, Leicestershire County Council and Rutland County Council. Almost 31% of Midlands residents do not have access to off-street parking. It is hoped that increasing the number of public on-street charge points will make it easier for those without a driveway to make the switch to an electric vehicle. This will also increase the ease of travel and charging for all EV users in the county. Two of the Midlands Consortiums tenders are out now with the final consortium to go to procurement Spring 2025, with a five-year delivery aim to install these across the partnership area. Future of Roads Minister, Lilian Greenwood, said: “Making charging as seamless and as easy as possible is a crucial to making the switch to electric a success, and rolling out over 16,000 chargers across the Midlands will make driving an EV cheaper and easier, especially for those without a driveway. “Electric vehicles will power growth, cut emissions and improve lives in the Midlands and beyond, as we continue to deliver our Plan for Change.” Councillor Marc Bayliss, Worcestershire County Council’s Cabinet Member for Highways and Transport, said: “I’m pleased that Worcestershire, alongside other local authorities, has been successful in this bid for significant funding towards boosting electric vehicle infrastructure. “It’s hoped that installing more public chargepoints, will not only support those who already have an electric vehicle, but also encourage others to make the move towards purchasing one.” Maria Machancoses, CEO of Midlands Connect, said: “We are delighted that our collaboration with local authorities has resulted in a significant funding boost for electric vehicle infrastructure across the region. “This is a great step in moving towards a reliable electric vehicle charging infrastructure network across the Midlands, which will become increasingly important as we move closer to the 2035 ban of diesel and petrol vehicles. “We will continue to work with local authorities to accelerate the roll-out of electric vehicle infrastructure across the Midlands.”

Leicestershire Business Voice appoints new chair

Tess Egginton
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Leicestershire Business Voice appoints new chair
Leicestershire Business Voice (LBV), the business advocacy group for Leicester and Leicestershire, has appointed Sue Tilley as its new chair. Sue brings significant experience to her new role including economic strategy, inward investment, business innovation, partnerships between business and education, and business development, in both the public and private sectors. Sue will direct the LBV board members as they develop and deliver a strategy to support the business community in Leicester and Leicestershire. This will include advocating for members and the wider business sector with key local, regional and national stakeholders, running a programme of strategic business-themed events throughout the year and growing the membership of LBV through the new 100 Club initiative. Sue will replace outgoing chair, Robin Pointon, who steps down after four years as chair. Robin will remain on the board of LBV. Robin Pointon said: “I am delighted that Sue Tilley is our new LBV chair. Her knowledge of the local business community and key stakeholders is exceptional. More than this, she commands great respect across all sectors and so well suited for this role.” Sue is founder and director of Sue Tilley Associates and a member of the board of trustees at the Leicestershire Education Business Company. She was previously head of inward investment, economic strategy manager – business, head of business, innovation and partnerships, and head of the Leicester and Leicestershire Enterprise Partnership (LLEP). Prior to that, Sue was head of inward investment at Prospect Leicestershire, worked in sales director, business development director and general manager roles, and was owner and managing director of the Classy Rags clothing company. Sue Tilley said: “LBV is an ideal platform with which local businesses can get involved and make a difference. I’m so proud to have been selected to lead such a trusted business group as LBV and look forward to working with the rest of the board, a group of vibrant business leaders, all invested in the growth of the local business sector. “Through my professional work, I’m a strong advocate for business in Leicester and Leicestershire. I understand how important relationships are with key stakeholders such as councils, MPs and universities, and having been in a start-up business of my own, I’m passionate about driving opportunities for the local SME community.”

Lincolnshire leaders talk of positive future ahead as new authority meets for the first time

Michael Fisher
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Lincolnshire leaders talk of positive future ahead as new authority meets for the first time
Local powers and investment to support business, up-skill people, and improve highways and housing are key priorities of the new Greater Lincolnshire Combined County Authority, (GLCCA). Leaders of the three lead local authorities – Lincolnshire County Council and North and North East Lincolnshire unitary authorities – spoke of their ambitions for the future as they marked the first meeting of the GLCCA. Cllrs Martin Hill, Rob Waltham and Philip Jackson – all members of the GLCCA board – were addressing an audience of business leaders and representatives from local communities, MPs and colleagues following the inaugural meeting, which was held at Lincoln Cathedral on Thursday (March 6). They talked of the real possibilities that now exist across the whole of the Greater Lincolnshire footprint with a Mayor, to be elected on May 1, chairing an authority that can work to effect positive change. Giving an overview of the positive work that will begin in earnest by the GLCCA, Lincolnshire County Council Leader, Cllr Martin Hill said: “We’re now starting a new era in Greater Lincolnshire – erasing boundaries as we continue to strive to get the best for our residents and businesses. “Connecting companies, organisations and decision makers is key to making the most of these new powers and funding we have from the government. Our area contributes significantly to the nation and this deserves to be recognised – whether it’s our contribution to defence, food security or logistics. Being able to boost these areas not only benefits Greater Lincolnshire, but the whole country.” Cllr Philip Jackson spoke of the ‘economic powerhouse’ sectors of decarbonisation, offshore wind turbines, food processing, and ports and logistics and how the GLCCA can work with all business to enable and support continued growth. He said: “Over the last decade we have once again seen the great benefits of our position along the south bank of the Humber estuary, with regional, national and world-leading organisations creating opportunity and growth. As one of the GLCCA’s key priorities states, now is the time we can work to further turbo charge that growth for the benefit of all within Greater Lincolnshire.” Cllr Rob Waltham, the Leader of North Lincolnshire, added: “I’m proud to have been part of the negotiations that lead to this historic moment, which marks the beginning of a new era for Lincolnshire. “Devolution means we can make decisions locally and focus on the needs and ambitious of our communities, not be dictated by London. The new mayoral authority will invest in skills to prepare young people for the world of work, transport to improve connectivity and business growth to create more better paid jobs for our local residents and this is just the start. I’m looking forward to working with communities across the region to build a stronger, more prosperous Greater Lincolnshire.”

Leicestershire care provider rated ‘requires improvement’ over medicine and record-keeping failures

April Lara
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Leicestershire care provider rated ‘requires improvement’ over medicine and record-keeping failures

Premium Home Care Services Limited, also known as Home Instead Senior Care, has received a “requires improvement” rating from the Care Quality Commission (CQC) following an inspection. The watchdog flagged concerns over medicine management, record-keeping, and leadership at the domiciliary care provider based in Beaumont Leys, Leicestershire.

The inspection found that the service failed to meet legal requirements for the safe administration and management of medicines. Inspectors reported a lack of guidance for medication use, poor oversight, and failure to follow best practices, resulting in a breach of the Health and Social Care Act 2008.

The CQC cited inadequate systems to update care records when multiple healthcare professionals were involved, leading to confusion over care responsibilities. Additionally, inspectors found safeguarding incidents were not always reported or addressed in line with policy due to weak managerial oversight.

Leadership and governance were also criticised, with the report highlighting a lack of audits and oversight that resulted in another regulatory breach. Multiple management changes have impacted the service’s effectiveness. However, the report acknowledged a positive workplace culture, with staff feeling valued and respected.

Despite the overall “requires improvement” rating, the service was rated “good” for its effectiveness, responsiveness, and quality of care. During inspection in late 2023, the service supported 65 people with personal care in their homes.

UK space partnership to accelerate technology deployment

April Lara
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UK space partnership to accelerate technology deployment

Space Park Leicester and Perpetual Atomics partnered with Sidereus Space Dynamics to enhance the UK’s space technology and scientific missions capabilities. The collaboration includes dual Memoranda of Understanding (MoUs) between Sidereus, Space Park Leicester, and Perpetual Atomics, focusing on rapid prototyping, validation, and deployment of space technologies.

The partnership will support additive manufacturing of space engine components, heat shield innovation, and advanced materials for space applications. UK-based organisations will gain access to Sidereus’ EOS system, a single-stage-to-orbit launch vehicle that enables cost-effective testing of mission-critical materials in microgravity and very low Earth orbit.

Sidereus aims to provide flexible access to space, removing reliance on restrictive launch schedules. Perpetual Atomics will focus on advancing radioisotope power technologies and energy systems for deep space missions. The initiative is expected to strengthen the UK’s space engineering and innovation position.

Boots sale worth £8bn possible after 300 store closures

April Lara
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Boots sale worth £8bn possible after 300 store closures

Boots, the well-known UK pharmacy and retail chain, is poised for a potential £8 billion sale, with reports suggesting a deal could be finalised this week. This follows the closure of 300 stores as part of a significant cost-saving effort by its parent company, Walgreens Boots Alliance, which is facing financial challenges. The private equity firm Sycamore Partners is expected to acquire the business, raising questions about Boots’ long-term presence on the UK high street.

Despite the closures, Boots in Nottingham, has seen a marked performance improvement. The company’s retail sales surged by 8.1% between September and November 2024, driven by strong online growth and its pharmacy services. Online sales increased by 23%, while pharmacy sales grew by 5.8%, bolstering the company’s appeal to investors.

This shift in performance could lead to a separation from Walgreens and Shields Health Solutions, with speculation that Boots might be listed on the London Stock Exchange.

Next major step taken in Derbyshire Waste Treatment Facility Project

Tess Egginton
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Next major step taken in Derbyshire Waste Treatment Facility Project
Three major waste management firms have been selected to progress to the next stage of the procurement process to appoint a contractor to fix and operate Sinfin waste treatment centre. Following a first stage selection process, Biffa, Thalia and Viridor have been identified by Derby City Council and Derbyshire County Council as the most suitable qualified companies to move forward to the Competitive Dialogue phase. This marks a significant step in the councils’ joint project to secure a long-term waste management solution for Derby and Derbyshire, ensuring efficiency, sustainability, and value for residents. The timeline for the next steps in the procurement are:
  • Competitive Dialogue – October 2025
  • Contract award (Cabinet decision) – December 2025
  • End of due diligence and commencement of rectification phase – June 2027
  • Start of commissioning – June 2028
  • First waste acceptance – November 2028
  • Completion of commissioning and transition to normal operations – Winter 2028 – Winter 2031
Over the next six months the councils and selected bidders will enter ‘Competitive Dialogue’ – structured discussions designed to provide equal treatment of all three companies to clarify, specify and enhance their proposed solution to fix and operate the facility. The process enables both the Councils and bidders to assess approaches and ensure opportunities that strike the right balance between cost and quality are explored. A spokesperson for Derbyshire County Council said: “We were confident we had developed a procurement process and commercial proposition that would be attractive to the right companies. “Shortlisting three major players in the UK waste market proves there’s a competitive market for this project, and operators with the skills and experience to successfully deliver it and its expected benefits. “Fixing and operating the facility was found to be the most viable, cost-effective, and sustainable long-term solution to manage household waste which residents in Derby and Derbyshire either cannot or choose not to recycle.” A spokesperson for Derby City Council said: “This is an important milestone in our commitment to securing a sustainable and cost-effective waste management solution for Derby and Derbyshire. “Reaching this stage with three leading waste management companies demonstrates both the strength of our approach and the level of industry interest in this project. “The council is keen to ensure a sustainable way to dispose of residents’ waste in the long term and seeks to find the most cost effective solution.”
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