Author: Dave Antrobus

The announced cancellation of the Stonehenge tunnel project has sparked concerns over potential impacts on regional growth and infrastructure in the West Country. Businesses express worries as the government’s £1.7 billion plan dissolves amidst financial adjustments.The government’s decision to abandon the Stonehenge tunnel project poses significant risks to the economic development of the West Country. The £1.7 billion initiative was scrapped as part of efforts to address a substantial public finance deficit. The project had aimed to enhance transport infrastructure in the region, mitigating congestion and supporting economic activities.Chancellor Rachel Reeves announced the cessation of the plan, citing a £22…

A major development in the childcare sector sees Newcastle-based Leigh’s Nurseries acquired by Kids Planet. The deal, managed by UNW LLP and Muckle LLP, secures jobs for over 80 staff.Acquisition OverviewThe acquisition of Newcastle-based Leigh’s Nurseries by the national group Kids Planet marks a notable expansion in the UK childcare sector. This deal was strategically orchestrated by advisors at UNW LLP and Muckle LLP. Leigh’s Nurseries, which has been lauded with seven ‘outstanding’ Ofsted ratings consecutively, integrates seamlessly into the Kids Planet portfolio, bolstering its market position with now over 195 locations caring for more than 29,000 children.Significance of the…

Ofgem is advancing plans to enhance the UK’s energy market flexibility, focusing on intermittent sources.The Flexibility Market Asset Registration aims to simplify asset registration for electric vehicles.Ofgem has unveiled plans to advance the flexibility of the UK’s energy market, which is becoming increasingly reliant on intermittent energy sources such as wind and solar.A consultation has been announced on the proposed Flexibility Market Asset Registration (FMAR) system, intended as a unified registration point for flexible assets like electric vehicles and heat pumps. This new system aims to reduce the complexities faced by Flexibility Service Providers who currently register multiple times for…

RMT Accountants & Business Advisors has strategically merged with Durham-based Ribchesters, enhancing service delivery across the North East. This consolidation comes shortly after RMT’s integration with national group Sumer.The union of RMT Accountants & Business Advisors and Ribchesters Chartered Accountants marks a significant step in bolstering client offerings. With combined resources, they aim to deliver comprehensive services in auditing, accounting, and corporate finance, among other areas. The timing follows RMT’s joining of the Sumer national group, known for investing in successful firms to create robust regional hubs.This merger allows Ribchesters to leverage RMT’s sector expertise and network. Thus, enabling an…

In recent developments, SkinBioTherapeutics plc has recorded impressive sales growth following a strategic acquisition of Dermatonics Limited. The company has proactively expanded its geographical and commercial presence.The life sciences firm, nestled within Newcastle’s Helix, has been experiencing a surge in demand for its innovative skin healthcare offerings. By acquiring Dermatonics, SkinBioTherapeutics aims to leverage new market opportunities while fostering product development.Sales Performance and Strategic ExpansionSkinBioTherapeutics plc, based at Newcastle’s Helix, has reported that its annual trading has surpassed expectations, significantly driven by commercial and geographical expansion initiatives. The company’s principal focus lies on the skin healthcare sector, with a remarkable…

The Rothschild-backed private equity fund, Kennet VI, has successfully raised £225 million. It targets high-growth SaaS technology firms across Europe.This substantial capital will fuel investments in tech companies like Screendragon and Fluid Topics, spearheading meaningful technological evolution.The Kennet VI fund, led by private equity specialist Kennet Partners, aims to amplify growth within the business-to-business SaaS sector. Garnering financial support from significant entities, including Edmond de Rothschild and British Patient Capital, this fund exemplifies a strategic collaboration focused on investing in companies that are pivotal to technological advancements in various European regions.Such investments align with Kennet’s philosophy of nurturing established, founder-owned…

Plans for a cutting-edge marine skills centre in Newlyn, Cornwall, have received official approval, paving the way for advancements in maritime training.Cornwall Council has sanctioned the Marine Skills and Resource Centre, set to be situated on the Strand, and backed by a substantial financial influx from the government’s Town Deal initiative.Strategic Investment in Maritime EducationThe approved Marine Skills and Resource Centre in Newlyn is a pivotal project slated to enhance maritime expertise in Cornwall. The Newlyn Pier & Harbour Commissioners (NP&HC) have outlined that this centre will be instrumental in developing a skilled workforce attuned to the demands of the…

The North East business landscape is witnessing a wave of strategic appointments and promotions, underpinning a strong focus on growth and expertise. Renowned companies are reinforcing their teams, demonstrating a commitment to innovation and regional development.This movement across various sectors highlights a dedication to excellence and the nurturing of in-house talent. It reflects a broader objective to enhance market presence and deliver sustained value to clients and communities.Deloitte’s Strategic Leadership EnhancementsDeloitte has made significant strides in enhancing its leadership team in Newcastle. Leading the initiative is Michael Cobb, who has now been promoted to partner within the business tax team,…

Babcock International’s recent financial results highlight a significant boost in profitability, reflecting the global uptick in defence expenditures. The UK’s defence leader reported a notable 34% rise in underlying operating profit.This surge in profits, bolstered by increased defence budgets worldwide, underscores Babcock’s strategic position within the defense sector. A substantial revenue growth to £4.44 billion signals robust demand for its offerings.Rising Revenue and Operating ProfitBabcock International reported that its revenue climbed to £4.44 billion for the financial year ending March 31, compared to £4.39 billion the previous year. This increase in revenue aligns with the global trend of heightened defence…

Segro, a leader in the UK warehousing sector, announced a remarkable increase in profits, reaching £227 million in pre-tax profits for the first half of 2024.This growth is attributed to strategic investments and a focus on high-demand European regions, reflecting a stabilising property market.Segro reported an impressive surge in pre-tax profits, which increased from £198 million in the first half of 2023 to £227 million in 2024. This growth can be attributed to its strategic focus on regions where warehousing space is scarce, ensuring demand remains high. By concentrating on ‘big box’ market areas, Segro capitalises on existing property valuation…