< PreviousFINANCE NEWS East Midlands accountancy firm acquires London data & intelligence consultancy East Midlands accountancy firm Cooper Parry has further strengthened its suite of digital businesses with the acquisition of Marketing Cloud Intelligence (formerly Datorama) specialists Front Foot. It follows the recent acquisitions of Cloud Orca and MacroFin, as Cooper Parry looks to create the UK’s next gen professional services group. This is the firm’s twelfth deal within the last 22 months. Since 2017, Front Foot has delivered AI powered marketing intelligence to a full spectrum of clients, from global marketing agencies to multi-national enterprises, ecommerce, publishers, government, retailers, SMBs and independent digital agencies across many verticals. Founders Christian Osborne and Sam Eaton both join Cooper Parry as Data & Intelligence Directors. Ed Rowland, Head of CP Digital, said: “Bringing Front Foot into the CP Digital family is a brilliant fit – strategically and culturally. Christian and Sam have built an outstanding reputation. Their data and marketing intelligence specialism perfectly complements our existing Cloud Orca (Salesforce) and MacroFin (NetSuite) businesses.” Peak District National Park Authority approves restructure under unprecedented financial pressures The Peak District National Park Authority has approved restructuring proposals to cut costs amid ongoing financial pressures. A fixed government grant, failing to account for inflation, alongside rising external costs and wage increases, has resulted in a real-terms funding cut of 50% over the past decade. Despite growing visitor numbers and rising expectations for nature, climate, and wellbeing initiatives, funding remains flat. Just two years ago, the Authority restructured, halving senior management roles and consolidating services while investing in statutory planning. However, financial pressures have worsened. The approved changes include efficiencies in customer services and communications, plus reductions in community engagement, education, and wellbeing programmes, with alternative funding being sought. A philanthropic donor is supporting transformational changes to Visitor and Cycle Hire Centres. Chief Executive Phil Mulligan said the cuts were unavoidable without increased government funding. Redundancies are expected but have been mitigated through voluntary options. The budget will be finalised on 21 March. Equity investment in East Midlands small businesses rises despite fewer deals 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 regions saw equity deal value growth despite economic challenges. 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 remain key barriers. Smaller businesses invested an estimated £12.3 billion in 2024, while larger firms invested £27.7 billion— 2.25 times more—despite a smaller economic turnover share. Marking its first anniversary, the Midlands Engine Investment Fund II has facilitated over £37 million in investments. Challenger and specialist banks provided £37.3 billion of the £62.1 billion in gross lending to small businesses, taking a 60% market share. 10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk © stock.adobe.com/Thares2020 © stock.adobe.com/miss irineFINANCE NEWS © stock.adobe.com/crispy Freeths named most active for insolvency claims in latest High Court Review The Insolvency and Restructuring team at Freeths has been listed as the highest performing insolvency firm by volume of claims in the Insolvency and Companies List for the second consecutive year, in the fourth edition of Solomonic’s Year in Review. The annual review revealed that Freeths had 402 insolvency claims during 2024, surpassing its total of 365 in 2023, more than 100 claims above the second ranked firm. The claims in these calculations included Insolvency Act Claims for Office Holders, Administration Appointments, CVA filings, and Winding Up Petitions. National Head of Insolvency and Restructuring at Freeths, Joey Byrne, said: “To achieve such strong results for the second year in a row demonstrates the strength and depth of the team’s capabilities following significant growth in the past 12 months, and deep-rooted client relationships. I would like to thank our clients for their ongoing support, and the trust they have in the firm.” www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 11 Birmingham logistics specialist snaps up Nottinghamshire firm Eric Elliott Transport has been sold in a deal intended to “set new industry standards,” according to acquirer Onpoint Group. Founded in the 1950s, the Gotham, Nottinghamshire-based firm provides haulage and waste removal services across the Midlands. It serves the agriculture, construction, demolition, and recycling sectors with its own fleet of vehicles. The sale, led by KBS Corporate Deal Executive Oliver Rigby, sees Eric Elliott Transport acquired by Birmingham-based global logistics specialist Onpoint Group. “We are thrilled to acquire Eric Elliott Transport, expanding our capabilities and regional presence,” Onpoint stated. The acquisition strengthens its portfolio, adding bulk haulage, walking-floor trailers, muck- away services, grab hire, aggregates supply, and recycling. Alex Bush, Onpoint’s Commercial Director, called the move “a milestone,” enhancing customer service and industry standards. KBS Corporate’s Oliver Rigby thanked Andrew King of Duncan & Toplis, and Mackrell Solicitors’ James McKimm and Guvvy Sandhu, for their role in finalising the deal. Rolls-Royce reports strong 2024 results whilst “moving with pace and intensity” Rolls-Royce has reported “strong 2024 results” as it moves “with pace and intensity.” The Derby manufacturer’s underlying operating profit rose from £1.6bn in 2023 to £2.5bn in 2024, a 57% increase, driven by strategic initiatives, commercial optimisation, and cost efficiencies. Its efficiency and simplification programme delivered over £350m in savings by year-end, with expected benefits exceeding £500m in 2025—two years ahead of the original 2027 target. The firm also achieved £550m in cumulative third-party cost savings in 2024 and anticipates surpassing £1bn by 2025, again two years earlier than planned. For 2025, Rolls-Royce forecasts £2.7bn-£2.9bn underlying operating profit and has upgraded mid-term targets to £3.6bn-£3.9bn. CEO Tufan Erginbilgic highlighted a stronger balance sheet, a £1bn share buyback, and reinstated dividends. He emphasised that these mid-term targets mark a milestone, not a destination, with strong growth expected beyond 2027. Image supplied by KBS Corporate © stock.adobe.com/ManuPadillaManufacturing M&A rebounds UK manufacturing M&A activity grew by 11% in 2024, rebounding to 2022 levels despite rising costs, labour shortages, and geopolitical tensions, according to accountancy firm BDO. BDO’s Manufacturing Deals Review reveals 782 UK manufacturing deals were completed in 2024, up from 707 in 2023. Deal activity slowed in early 2024 but gained momentum after the Autumn Budget, with 475 deals in the latter half. Businesses rushed to complete deals ahead of anticipated Capital Gains Tax and Business Asset Disposal Relief changes, while many entrepreneurs considered exiting both ownership and the UK. Engineering services saw the highest activity, up 26%, accounting for 32% of transactions. Packaging and materials followed, with an 18% rise. BDO and Make UK research shows 26% of manufacturers are considering a sale within two years, rising to 35% in five years. Roger Buckley, UK Industrials M&A Partner at BDO, said: “Last year proved to be a busy year for manufacturing deals but upcoming policy changes are now weighing heavily on business confidence, recruitment plans and growth intentions. Many businesses will be hoping for a boost in sentiment when the Industrial Strategy is announced later this year.” MANUFACTURING NEWS Great British Nuclear enters final stage of SMR selection process Great British Nuclear (GBN) has entered the final stage of the UK’s Small Modular Reactor (SMR) selection process and is set to make final decisions in spring. An Invitation to Submit Final Tender has been issued to the four remaining vendors: GE-Hitachi Nuclear Energy International LLC, Holtec Britain Ltd, Rolls-Royce SMR Ltd, and Westinghouse Electric Company UK Ltd. In February, the Prime Minister pledged to put Britain back in the global nuclear race and reform planning rules to ease SMR construction in England and Wales. SMRs are smaller than traditional nuclear power plants and their modular construction could provide a way of delivering nuclear more quickly and cost-effectively. They could also be built in a greater variety of locations, and be co-located with energy-intensive industrial sites such as AI data centres. GBN Chair Simon Bowen said: “This is an exciting moment for Great British Nuclear and the UK as we reach the final stage of the technology selection process for the Small Modular Reactor programme. “Nuclear energy is vital for economic growth and delivering secure, reliable, home-generated power that is capable of meeting future demand, enabling Net Zero, and reducing the UK’s dependence on importing fossil fuels. “Since GBN was launched in 2023, the team has made huge strides in delivering a fair, robust, and transparent process for technology selection.” Secretary of State for Energy Security and Net Zero Ed Miliband, said: “Small modular reactors will support our mission to become a clean energy superpower. That’s why we are backing new nuclear technology to help secure our energy independence and grow the economy.” Derbyshire plastics manufacturer ceases trading, assets up for auction CPR Manufacturing, a polythene and plastic sheeting producer based in Alfreton, has ceased trading, and its assets are now available for auction. The company specialised in recycling and extrusion, supplying polythene, linear, and compostable films to a range of industries, including retail, trade, local authorities, and healthcare. Established to provide high-quality plastic sheeting solutions, CPR Manufacturing built a reputation for innovation and sustainability in its sector. However, challenging market conditions have led to the closure of its operations. Asset advisory firm Walker Singleton is managing the online auction, with bids closing at 12:00 pm on Thursday, 13 March. The sale features a range of industrial equipment from CPR Manufacturing’s facility on Dunsford Road, Alfreton, including extrusion lines, recycling machinery, and ancillary assets. Interested buyers are encouraged to register in advance and review the available items. The auction is expected to attract significant interest from industry buyers 12 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Picture by Edward Moss Photography/07766 250970Nottingham fabrication firm sold with laser-like precision Laser Expertise, a fabrication specialist established for over 40 years, has been sold to Parklands Capital – who will aim to build on the company’s “fantastic legacy.” Based in Nottingham and operating nationally, Laser Expertise has continued to expand since moving to its current facility in 2002. With over 30,000 sq ft of workshop space and employing over 80 people, the company has become one of the UK’s leading laser cutters. Anton Schwarz and Dr John Powell founded Laser Expertise in 1984. In a deal led by Matthew Sibley, KBS Corporate Associate Director, the company was sold to Parklands Capital, a private fund which invests in established UK SMEs with ambitious management teams and strong growth prospects. “Laser Expertise’s commitment to providing all our clients with the highest quality products, focusing on the design and manufacturing processes to ensure repeatable quality, is identical to Parklands Capital’s commitment to making acquisitions seamless,” said Anton Schwarz. MANUFACTURING NEWS Davenham Switchgear chooses Nottingham for new global manufacturing site Davenham Switchgear, a Legrand brand and supplier of low-voltage (LV) switchgear to the hyperscale data centre market, has chosen Nottingham for its new global manufacturing site. With over 40 years of expertise from its Dublin headquarters, where 350 staff are based, Davenham is a major player in powering hyperscale data centres worldwide. Its UK expansion supports growing demand from global tech giants. The new 100,000ft² facility at Fairham Business Park, secured via FHP Property Consultants on behalf of real estate firm Hines, will manufacture cutting-edge LV switchgear for major data centre operators, supporting AI and cloud computing. Nottingham was chosen for its transport links, skilled workforce, and high-quality facility. The move will create over 100 jobs. CEO Tom Nicholson said: “We’re excited to bring Davenham Switchgear to Nottingham. Its strong transport links, talent pool, and business community make it ideal for our next growth phase.” Leicester manufacturing firm adopts four-day week with no loss of pay for all staff A leading Leicester-based manufacturing firm has permanently moved to a four-day working week with no reduction in pay. Camloc Motion Control’s 35 employees now work a 35-hour, four-day week, proving that traditional manufacturers can implement such changes. The company has been accredited as a Silver Standard four-day week employer under the 4 Day Week Foundation’s Employer Accreditation Scheme. Camloc designs and manufactures gas springs, struts, and dampers and has been in business for over 35 years. Since Covid, the four-day week has gained popularity worldwide, with studies showing it boosts productivity and wellbeing. When Microsoft trialled it in Japan, productivity rose by 40%. Over 220 UK companies, including 5,000+ workers, have adopted reduced hours, with most working 32 hours or less. Managing Director Matt Warne said the shift will improve staff wellbeing, focus, and job satisfaction while maintaining high customer service and product quality standards. © stock.adobe.com/Олег Чуприна www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 13 Image supplied by KBS CorporatePROPERTY NEWS New endoscopy unit at Leicester General Hospital tops out Henry Brothers Construction and University Hospitals of Leicester celebrated the topping-out ceremony at the new Endoscopy Unit at Leicester General Hospital. Executives from University Hospitals of Leicester NHS Trust (UHL), endoscopy staff, and the construction team attended the event at the specialist unit, being built next to the East Midlands Planned Care Centre. Henry Brothers was awarded a £10m contract to build the one-storey facility to a BREEAM Excellent standard. It will include endoscopy pods, discharge lounges, offices, staff areas, and stores, with a rooftop plant room. Managing Director Ian Taylor said Henry Brothers was proud to deliver the project, which will enhance healthcare for Leicestershire. UHL Deputy Chief Executive Simon Barton called it a milestone in improving diagnostic services. A tree will be planted to mark the occasion. The project, set for completion in late summer 2025, will serve around 17,500 patients annually. From Nottingham to Cannes, unlocking regional investment at the world’s largest property event Nottingham will be represented by more than a dozen public and private sector organisations at MIPIM in Cannes, France. Led by framework managing agent Pagabo, Team Nottingham is partnering with the East Midlands Combined County Authority (EMCCA) to promote the city, county, and wider region at the world’s largest property event. The four-day festival attracts global investors and developers, providing a platform to drive investment. Sponsor organisations include: • Pagabo (headline sponsor) • Arup • Cartwright Communications • Chord Consult • CPMG • Gleeds • Innes England • Morgan Sindall • Nexa Finance • Sandbox • Scape • Waterman Building Services • Willmott Dixon For the first time since 2022, public sector leaders will attend, including Marketing Nottingham CEO Megan Powell Vreeswijk and EMCCA deputy mayor Cllr Nadine Peatfield, highlighting Nottinghamshire’s real estate potential. Nottingham City Council supports the event, showcasing the city’s ambition and commitment to sustainable regeneration. Chesterfield Canal masterplan launched to boost business and tourism 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. 14 East Midlands Business Link www.eastmidlandsbusinesslink.co.ukPROPERTY NEWS Nottingham council faces £1m cost to keep Howitt Building open Nottingham City Council must find over £1 million to address fire safety and maintenance issues at the Howitt Building, home to around 80 businesses and community organisations. The Grade II-listed site, part of Lenton Business Centre, was ordered to close after fire risk assessments identified serious concerns. Required works include £316,134 for fire safety upgrades—£174,000 for fire doors—plus £341,700 for heating repairs, £350,000 for roofing, and £30,000 for energy efficiency. Council documents warn of potential corporate manslaughter liability if safety failures lead to fatalities. Businesses and community groups must vacate by early March, prompting backlash and a petition with over 11,000 signatures to save the Marcus Garvey Centre, a key cultural hub. The council has spent £520,000 on site maintenance since 2016. A new property management model identified long-standing structural issues. Nottinghamshire Fire and Rescue Service will conduct further assessments while the council explores future options. Partridge Exterior Cleaning sweeps into Burton industrial estate Rushton Hickman has let Unit 15 Steel Fabs Industrial Estate in Burton upon Trent to Partridge Exterior Cleaning. The property comprises an end-terraced industrial unit of steel portal frame construction and provides 698 sq ft of industrial / workshop accommodation including an office. The new tenant, Sidney Partridge, owner of Partridge Exterior Cleaning, wanted a central location in Burton with convenient access to major transport links for their new premises. Taylor Millington, the agent who facilitated the deal, said: “We are very pleased to have introduced Partridge Exterior Cleaning to the site on behalf of our client and we are confident that their strategic location will not only enhance their operational efficiency but also contribute positively to the local economy. “We look forward to seeing their business flourish and are proud to have played a role in this exciting new chapter for both Partridge Exterior Cleaning and our client, Steel Fabrications Limited.” North West Leicestershire District Council (NWLDC) has rejected plans to demolish Rosine Cottage in Coleorton and build seven bungalows for over- 55s and those with medical needs for the third time. Planning officers raised concerns about the village’s lack of shops and sustainable transport, arguing it was unsuitable for older residents and those with mobility issues. They also noted that the development would require residents to rely on cars, increasing environmental impact. Officers criticised the proposal as “cramped” and an example of “over- development,” highlighting insufficient garden space. The council further objected to its effect on the countryside, stating it would erode open, undeveloped land and harm the area’s rural character. Previous applications for the same project were rejected for similar reasons. However, a separate, previously approved application to convert Rosine Cottage into three homes remains valid and could still be implemented, providing an alternative to demolition. Leicestershire bungalow development rejected again over sustainability concerns www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 15 © stock.adobe.com/ASDF Image courtesy of Nottingham City Council16 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY Busy business parks www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 17 COMMERCIAL PROPERTY T he East Midlands’ business parks have stood out as a hive of activity since our last issue, with fresh deals sealed, novel proposals lodged and approved, and work beginning on new developments. At Dove Valley Park, for example, plans for the business park’s completion have been unanimously approved by South Derbyshire District Council, forming the eastern part of the major 200-acre employment site on the A50 in South Derbyshire that is home to occupiers including JCB, Top Hat, Futaba Ltd and GXO. With the existing infrastructure of Dove Valley Park already in place to extend into the site, the detailed planning consent will allow immediate development. Once developed, the 35-acre site will create over 700,000 sq ft of employment space. Four units of varying sizes will be built to meet demand for industrial space, along with the necessary associated hard and soft landscaping, car parking and infrastructure. A new 18 Á CGI of completion phase at Dove Valley Park With new lettings, work starting, and plans being lodged, the region’s business parks are flourishing. 18 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY Innovation Centre will also be developed that will serve as a central hub for all businesses in the local vicinity, designed to draw people together and provide space for gatherings, informal meeting space and access to external areas. There will also be a cafe/restaurant and amenity space. Meanwhile, proposals to expand Mercia Park in north west Leicestershire have been submitted. The site, which currently employs over 2,500 people, is the home of JLR’s Global Logistics Centre (Unipart) and a flagship facility for global transport and logistics company DSV. The proposed expansion would build on the success of Mercia Park, which has become an important economic asset, delivering jobs as well as training and skills for people during construction and into operation. Extending Mercia Park could create between 1,000 and 1,700 jobs on site once complete and fully operational and an estimated £2.8 million per year in business rates. The planning application for the expansion of the site, which is near Junction 11 of the M42, has been prepared by IM Properties. Matthew Fox, Planning Director at IM Properties, said: “Mercia Park has demonstrated that it is a leading location for business with excellent transport links and net zero- ready buildings all within a high quality landscaped setting. Expansion of this important economic asset would capitalise on the profile and success of the site and provide much-needed new business space to help drive inward investment in Leicestershire.” Further into the development process, work recently started on site at ARK, a 107,000 sq ft scheme at Markham Vale in Derbyshire. The £19m GDV scheme will be delivered by Origin, the UK- focused mid-box industrial and logistics platform formed by HBD, part of Henry Boot, and Feldberg Capital. Markham Vale is a 200-acre industrial and logistics scheme from HBD in joint venture with Derbyshire County Council, sitting at the heart of the UK motorway network with direct access to the M1 via a dedicated junction, J29a. It is home to a range of businesses, including advanced manufacturers and logistics providers, with occupiers Smurfit Westrock, Bilstein Group, Great Bear, Granger International and Sterigenics. More than 2,600 jobs have been created at Markham Vale since work began in 2006. Henry Boot Construction has been appointed to deliver the four units at ARK, which is expected to complete in Q4 2025. Vivienne Clements, Executive Director at HBD, said: “Markham Vale is one of the region’s leading I&L locations so it’s positive to be able to deliver further Grade A space, which remains in short Beauchamp Business Park www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 19 COMMERCIAL PROPERTY supply. Like all of our Origin developments, all four units will have market-leading ESG credentials, prioritising sustainability and securing both BREEAM Excellent and EPC A ratings. We look forward to seeing ARK begin to take shape, attracting additional inward investment and creating new jobs.” At Beauchamp Business Park, in Kibworth, Leicestershire, a flurry of deals have been made, with three units sold and offers placed on a further five. The development has been delivered by Clowes Developments and their team including IMA Architects, TanRo, Millward Consulting Engineers, Gateley Legal and Postins Project Services. Phillips Sutton and TDB Real Estate have been the agents marketing the scheme. Phase one of the development was a success with 80% of the units sold before construction even began. This bolstered confidence to speculatively build out the remaining plots, including a terrace of four 2,540 sq ft units, known as ‘Unit F 1-4’, and phase two, which involves a courtyard of terrace units ranging from 2,271 – 4,789 sq ft. Within months of practical completion, CJB Printing have purchased F4, and private investors have purchased the other two units, with another under offer. Additionally, a terrace of four under Unit G2 are now under offer. Finally, at another scheme from Clowes Developments, a new deal has been sealed at Nottingham’s Fairham Business Park, where over one million square feet of commercial space is planned together with 3,000 dwellings. The deal, brokered by Tim Gilbertson of FHP Property Consultants, sees the pre- sale of a 72,000ft? unit to CLEAN Linen & Workwear for their relocation and expansion of their existing Nottingham facility. Development Director at Clowes Developments, James Richards, said: “To date we’ve seen huge success at Fairham Business Park with a high calibre of occupiers choosing to make Fairham their home for business. It’s great to secure CLEAN and add another multi-national company into the mix. Fairham Business Park has already provided employment for over 750 people, the addition of CLEAN will bring that number to over 1000. We are delighted with the inward investment being generated for the area and hope to continue this as we look to bring forward phase two of the development. As is always the case with our projects, our professional team of advisers have delivered another great result for us in getting this deal over the line, special thanks goes to our legal representatives, Heather Dixon and Chris Hawrylak at Geldards LLP.” Work has started on site at ARK at Markham ValeNext >