OakNorth expands US presence with acquisition of Michigan’s CUB

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UK-based challenger bank OakNorth has acquired Michigan-based Community Unity Bank (CUB) in an all-share deal, marking its first US acquisition. CUB, an FDIC-insured bank founded three years ago, primarily serves retail and business customers in Southeast Michigan.

OakNorth, backed by SoftBank, has been a key lender to UK businesses, including projects in Yorkshire. The bank focuses on firms with revenues between £1 million and £100 million. Since mid-2023, the bank has provided $700 million in loans to US businesses via its UK balance sheet as part of its expansion strategy.

The acquisition allows OakNorth to scale its business lending operations across the US, targeting the lower mid-market segment, which is facing a funding gap following recent US bank collapses. This marks OakNorth’s third overall acquisition, following its Fluidly and Ask Partners purchases. CUB’s leadership emphasised the bank’s entrepreneurial roots and commitment to small business lending.

UK government plans regulatory overhaul to cut business costs

According to a statement from His Majesty’s Treasury, the UK government is preparing to streamline regulations in an effort to reduce administrative costs for businesses by 25%. Chancellor Rachel Reeves will meet with regulators on Monday to outline the plan, which includes consolidating regulatory bodies, simplifying environmental rules for major projects, and cutting down on extensive guidance, such as requirements for bat habitat protection.

The reforms align with 60 agreed measures to improve the business environment, including accelerating the approval of new medicines and easing mortgage lending rules. The initiative follows Prime Minister Keir Starmer’s commitment to reform what he described as the UK’s “overcautious, flabby state,” including plans to dissolve certain regulatory bodies.

Labour’s strategy aims to stimulate economic growth after years of stagnation. However, recent polls indicate public scepticism, with 48% of Britons expressing dissatisfaction with the government’s performance and 49% believing its economic policies will have a negative impact. The UK economy shrank by 0.1% in early 2024, following slight growth in the preceding months.

North Lincolnshire mandates solar panels for all new buildings

North Lincolnshire Council has announced that all new homes and industrial units must be built with solar panels under a new local plan. The policy, included in the council’s draft local plan, was approved at a Cabinet meeting on 17 March.

The measure aims to increase renewable energy generation while reducing reliance on large-scale solar farms, which the council says take up valuable farmland.

Once implemented, developers must integrate solar panels into all new construction projects to secure planning permission. The council has already installed solar panels in schools and public buildings as part of its sustainability efforts.

Fold Hill Foods acquires Brambles Pet and Wildlife

Fold Hill Foods, a Lincolnshire-based pet food manufacturer, has acquired Macclesfield-based Brambles Pet and Wildlife from founders David and Gail Tracey.

Brambles will join Fold Hill’s existing portfolio, which includes Ruffingtons, Pointer Pet Foods, Laughing Dog Food, and Superior. The two companies have previously worked together, with Fold Hill producing some of Brambles’ range.

Managing director Ben Mankertz stated that Brambles’ strong market position and expertise in wildlife nutrition made it a strategic fit. David Tracey will continue supporting the brand following the acquisition.

InstaVolt expands UK EV charging network with new hubs

InstaVolt has added new ultra-rapid EV charging hubs in Skegness, Liverpool, and Kettering as part of its nationwide expansion.

The Skegness site, located on Parade Street, features six 160kW chargers near Skegness Beach, Starbucks, and Travelodge. In Liverpool, two 160kW chargers have been installed at McDonald’s Ellesmere Port. Kettering now hosts a 12-charger ultra-rapid hub, with an on-site Costa Coffee planned.

With over 1,900 chargers already in operation, InstaVolt aims to reach 11,000 by 2030.

Scarborough secures £19.5m for long-term regeneration

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Scarborough will receive £19.5 million in government funding over the next decade as part of the Plan for Neighbourhoods scheme, North Yorkshire Council has confirmed.

The funding aligns with the council’s previously developed 10-year vision, which prioritises town centre improvements and better bus services. Other potential projects include enhancements to public spaces, additional seating areas, and further development around Scarborough Station.

Public consultation will continue before a final plan is submitted by winter 2024, and project implementation will begin in spring 2026.

Council leader Carl Les said the funding presents an opportunity to drive long-term economic and community benefits. At the same time, Scarborough and Whitby area committee chair Liz Colling emphasised the need for investment in coastal towns.

Bradford Council rejects plan to convert cafe into 18-bed HMO

Bradford Council has refused a planning application to convert a derelict café on Greaves Street into an 18-bedroom house in multiple occupation (HMO), citing overuse of the property and inadequate living conditions.

Mustafa Ghanim’s proposal aimed to repurpose the fire-damaged building near Trident Park and Manchester Road bridge, arguing it would provide much-needed housing. However, council officers raised concerns about the high number of occupants—potentially up to 26—and the strain on local parking.

Officials stated that the lack of communal living or dining spaces would leave residents confined to their rooms, while the increased foot traffic could cause excessive noise and disruption. The council concluded that the conversion would be an “overly intensive use” of the building and rejected the application.

Yorkshire based Spencer Bridge Engineering recognised for outstanding refurbishment of historic bridge

A Yorkshire based bridge engineering specialist has been recognised with a prestigious national industry award for its meticulous work on a historic bridge. Spencer Bridge Engineering was honoured with the Bridges Award for New Life in the 2025 Bridges Awards in recognition of its work to permanently replace hangers on the iconic Menai Suspension Bridge, which connects the island of Anglesey to mainland Wales. Organised by Bridge Engineering and Design Magazine, in partnership with Bridge Owners Forum, the awards took place at the Bridges Conference at the CBS Arena in Coventry, with the Bridges Award for New Life recognising an outstanding refurbishment, rehabilitation, reconstruction or repurposing project. Hull based Spencer Bridge Engineering scooped the award for its project to permanently replace over 160 defective hangers on the Menai Suspension Bridge. The team replaced and painted 168 of the 208 wire rope hangers on the bridge, restoring the full structural integrity of the crossing and removing a critical risk to public safety. Completed in 1826, the Grade 1 listed structure provides a crucial road link between mainland Wales and the Isle of Anglesey and is the second oldest suspension bridge in the world still in use for vehicle traffic. In October 2022, the discovery of brittle hanger components resulted in the immediate and unplanned closure of the bridge, leading to a race against time to design and install emergency failsafes to allow reopening of the structure, which was successfully completed by Spencer Bridge Engineering in early 2023. Following the emergency works, Spencer Bridge’s experienced teams were appointed to carry out the permanent replacement of the hangers on site to extremely tight tolerances and constraints, while maintaining live traffic throughout the project. To respect the heritage and historic features of the bridge, the team worked closely with the hanger supplier, Fatzer AG, to create hangers and bespoke sockets to match the existing profile, while adhering to modern design codes. Spencer Bridge Engineering Bridges Director Luke Fisher said: “We’re delighted to have been honoured with this award in recognition of our work to deliver such a pivotal project on this iconic bridge. “With strong winds, wet weather and extremely tight constraints, this project posed a number of significant challenges, but I’m very proud of our teams who worked collaboratively and drew on our colleagues’ extensive and diverse skillset to develop solutions. “As the bridge approaches its 200th anniversary next year, we’re proud to have played a key part in restoring this historic structure, so it can continue carrying traffic for many years to come.” The project was delivered on behalf of UK Highways A55 Ltd, with Spencer Group also working in collaboration with lead Designer COWI. The Bridges Awards judging panel for 2025 was chaired by José María Sánchez de Muniáin, editor of Bridge Design and Engineering magazine, along with respected and independent bridge professionals from across the industry. Presenting the award, the judges said: “This is an example of true engineering in emergency, developing novel solutions to difficult challenges – protecting and improving functionality of an iconic bridge without closing it. “Ensuring the bridge is safe and then instigating installation of hangers in a trafficked environment is a huge achievement and the project was managed exemplary.”

Precision medicine company falls into administration

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Oncimmune, a precision medicine company based in Leeds, has fallen into administration.

It follows attempts by the business to sell its German trading subsidiary and a failure to raise additional capital required to meet the company’s short term funding needs. Oncimmune has concluded that there are no further options available to extend its cash runway and that the firm should therefore be placed into administration.

In a statement Oncimmune said: “Despite a comprehensive sale process and positive interest in the business it has unfortunately not been possible to secure a buyer for the Company’s trading subsidiary, Oncimmune Germany GmbH. It has also not been possible to raise the additional capital required to meet the Company’s short term funding needs.

“In light of this, and after extensive consideration of the Company’s current financial situation as well as the resulting creditor position, the Board has regrettably concluded that there are no further options available to the Company to extend its cash runway and that the Group should therefore be placed into administration in order to preserve the value of the business for creditors.

“Accordingly, a notice will be filed with the Court today notifying the directors’ intention to appoint Managing Directors from Alvarez & Marsal Europe LLP as administrators of the Company as soon as reasonably practicable.

“Consequently, the Company has requested a suspension in the trading of its ordinary shares on AIM, which will become effective from 7.30am on 17 March 2025.”

Digital agency goes for growth after boardroom shake-up

A performance marketing agency that achieved record profits in 2024 has now completed a boardroom reshuffle as it works to strengthen its platform for growth. Mike Ellis, Managing Director of 43 Clicks North since he set up the business in 2017, has now handed the role to Steve Baker, who steps up from the job of Performance Marketing Director. Mike will now take on the title of Founder and will focus on the commercial side of the business to treble growth over the next four years. The pair first worked together at Epiphany Search in Leeds, reuniting four years ago when Mike recruited Steve as Operations Manager. Mike said: “We had a really strong year last year and recorded our best ever profits – up about 10 per cent year on year. But at the same time we were thinking about how much better the business could be if each of us concentrated on the things we do best, and we couldn’t see any good reason to delay that any longer.” As MD, Mike has built a team of 18 with its own offices in the Old Town of Hull and decades of experience. Steve is a University of Lincoln graduate, who attended the Hull campus in the early 2000s and was attracted back to the city in 2021 by the place, the people and the potential of 43 Clicks North. He said: “It’s been difficult in the market generally but all the work we have done over the last 18 months has made sure we are on the right track and we do not need to feel restricted in our ambitions. “When the economy and the market isn’t where we want it to be, a lot of businesses batten down the hatches and don’t try to grow their way out of the downturn. We’re doing the opposite. We are investing internally and creating new roles because we have a good, stable structure in the business to enable that to happen. “We are a lot more grown up as a business in the way we carry ourselves and the way we behave internally. We are not a business that’s three years old any more. We are not playing at things, we have a good track record of delivering good results for clients and we have an enviable client list compared with some other agencies in the region.”