Sheffield drill bit manufacturing company becomes employee owned
A South Yorkshire manufacturer and supplier of power tool accessories, drill bits and tools has become an employee owned business.
Sheffield-based Armeg Ltd, established in 1973, has been sold to the newly formed Armeg Employee Ownership Trust.
The move is set to enable the company’s 55 employees to share directly in the company’s success and future growth strategy and will mean business as usual for the firm with the current directors continuing to manage the company’s operations to bring through a new generation of management.
The new ownership model, established through an employee ownership trust (EOT), ensures each employee becomes a beneficiary of the trust.
Advisors included Sheffield’s Wake Smith Solicitors on legal matters and accountancy practice Shorts for corporate finance and tax advice.
MD John Mowthorpe, who owned the business with Charles Pugh, said: “Armeg has been a Sheffield based, independent drill bit manufacturing specialist for over 51 years. During that time, it has enjoyed its independent status and benefited from a set of values that have allowed it to thrive over that period.
“In order to sustain that status and continue to deliver those benefits for its colleagues and customers, the current ownership has formed Armeg EOT Limited and sold its entire shareholding to the EOT.
“There are no immediate changes planned to either the management team or board structure at Armeg Ltd. It is very much business-as-usual, and the sale has been designed to deliver seamless management and leadership continuity for years to come. The change in ownership will allow a structured future shift in leadership under the careful management of the EOT’s board of trustees.
“I am delighted that we have completed the sale which I am convinced will ensure Armeg’s longevity as an independent and successful manufacturing company. Placing colleagues’ welfare at the heart of our operations and fulfilling customer needs as our primary purpose, will ensure Armeg’s continued success.”
Tom Haywood, associate in Wake Smith Solicitors’ company commercial team, said: “This secures the future of the business for the benefit of all the staff going forward and we wish them, along with John and Charlie all the success in the future.
“EOT governance structure helps ensure the employees have a voice in the strategic direction of the company while maintaining stability and continuity in its operations.”
Connor Marshall, Corporate Finance Senior Executive at Shorts, said: “It has been great to assist John and Charlie in securing the long-term future of Armeg. This transition into an EOT ensures that the culture and legacy of the business continues, with no change in day-to-day company operations for customers or employees.
“The employees have always been at the core of Armeg and in John and Charlie’s thoughts throughout the process and it will be great to see them benefit from the business going forward.”
Landscape works commence to create new £7.3m National Trust wetland nature reserve on Lincolnshire coast
Landscape works have commenced to transform a former golf course into a wetland nature reserve in Lincolnshire.
Located at Sandilands, near Sutton-on-Sea, the National Trust’s 62-acre site will see open water and islands, grasslands and sand-dunes, as well as reedbeds and ponds, complete with walkways and boardwalks.
A new visitor centre and café, designed by local practice Jonathan Hendry Architects, will help fund the conservation of the wetland when the project completes in Spring 2026.
Sandilands sits on the ‘east coast flyway’ migration route and the new reserve will be a vital resting and refuelling stop for birds as well as a habitat for hundreds of species of wildlife and flora.
Newark-based Influence Landscape Planning & Design was appointed by the National Trust to deliver Stage 4 technical design services, and Stages 5-7 landscape architecture services for onsite monitoring for the implementation of the works.
Shona Hatton, director at Influence Landscape Planning & Design, said: “We are very proud to be assisting the National Trust in the delivery of its first nature reserve in the county. The land formation for the wetland creation to the south of the site is well under way, and it’s already possible to get a real sense of what the final site will look like.
“The Lincolnshire Coast is rich in biodiversity and the National Trust is working hard to protect and enhance the natural world here, creating new habitats for migrating birds and many other species. Our designs give nature a place to flourish, and inclusive, accessible spaces for people to enjoy it.”
Kirsty James, general manager for Sandilands, said: “A lot of work has gone on behind the scenes and we are excited now to see work begin on the physical changes at Sandilands.
“We’re looking forward to seeing the area transform to not only create a haven for wildlife, but also provide a peaceful and calm space for people to walk, spend time with friends and family, and simply enjoy the beauty of nature and the outdoors.”
Ørsted commits to further £140k in support for RNLI
Over the next two years renewable energy company Ørsted will provide more than £140,000 to support 80 RNLI stations in the east, west, and north of England.
It’s an extension of the partnership established in 2015, in which Ørsted focused on supporting seven individual lifeboat stations in areas where the company operates its offshore windfarms.
The new-look partnership will allow 80 stations to bid for funding for projects the RNLI has identified as being of greatest need, ensuring that funds are used where they will be most impactful.
To date the partnership has helped to fund 1,831 launches and aid more than 3,395 people at sea, with 127 lives being saved.
Benj Sykes, Head of Environment, Consents and External Affairs at Ørsted, said: “Ørsted is committed to making a lasting and positive impact in the communities where we operate, so we’re excited to announce the next phase of our long-running and successful partnership with the RNLI. As the global leader in offshore wind, we understand the challenges of working in often tough conditions and safety is at the core of our work. We have tremendous respect for the volunteers and crews that dedicate their time to providing an invaluable service around the country. We hope our ongoing support will help them continue their vital work.”
Steve Hulbert, RNLI Senior Partnerships Manager, said: “We are delighted to continue our partnership with Ørsted. We have valued their support since 2015 and we are excited to extend the support they provide to more lifeboat stations. As a charity which relies on donations to carry out our lifesaving work, we couldn’t do what we do without partners such as Ørsted.”
Ørsted currently has 12 operational offshore wind farms in the UK with a further five projects in construction or development – Hornsea 3, Hornsea 4, Mooir Vannin, Stromar and Salamander.
Latest merger sees fast growing practice establish a greater presence in Yorkshire
Streets Chartered Accountants, a top 40 UK professional service firm, has established Streets Spenser Wilson Chartered Accountants.
The announcement follows the merger of the Halifax firm, Spenser Wilson with the fast-growing multi regional practice, Streets Chartered Accountants. This latest merger is one of more than five completed by Streets in the last six months and has seen the practice grow, now with more than 27 offices and fee income over £39 million.
When asked about the merger, Chris Yewdall, Partner at Spenser Wilson Chartered Accountants, said: “Myself and fellow Partners Andrea Kennedy, Liz Short and Sally Shacklock are delighted to announce our merger with Streets and excited about the future for our team and our clients as we move forwards as part of the wider Streets team.
“The firm was founded in 1919 and over the years has grown into one of the leading accountancy firms in the town and wider region thanks to our strong reputation and excellent partner led service.
“As with any business we cannot stand still and to move Spenser Wilson forward and provide our clients with a greater level of service we looked for some time to find a perfect partner to support us and one with whom we share mutual values.
“We chose Streets because of the shared philosophy of providing a valuable, personal, and partner led service for clients covering all areas of expertise. In addition, we wished to retain some independence and investment in the existing business, providing for the continued longevity of the practice for our clients, our team and the town of Halifax.
“Now that Spenser Wilson is part of a larger practice, we can confidently promise greater continuity of service to our clients and improved career prospects for our team, as well as our ability to attract new recruits.
“We also believe that our clients, existing and new, will benefit in that the combined firm will be able to offer a wider range of services, some of which we previously sourced externally.
“These include specialist corporate and private client tax planning, banking and finance, grants, R&D tax reliefs, international advice and personal financial planning. Being able to offer this breadth of service all under ‘one roof’ means we can provide greater value for our clients.
“The merger should enhance our position in Halifax and beyond Calderdale and into West Yorkshire and help to form a strong Northern presence within Streets coupled with the existing Wakefield, Hull, Preston and Burnley offices along with any other firms joining us in the future.”
Looking at what the merger means to Streets, the firm’s Managing Partner, Paul Tutin, said: “In line with our strategy to become a truly UK practice we are looking at and working with a number of firms looking to become part of Streets.
“The merger of Spenser Wilson Chartered Accountants & Business Advisers is the latest in line with our plans to expand our geographical coverage and provides us a stronger presence across Yorkshire, following the recent merger of the Wakefield practice of Andrew Wright & Co and our long-standing office in Hull.
“We are really looking forward to working with Chris, Liz, Andrea and Sally to grow the practice and to further establish it as a pre-eminent accountancy, business and tax advisory firm servicing the needs of businesses and individuals across Yorkshire.
“Looking ahead with a number of further mergers and acquisitions in the pipeline, which include a number of practices across the UK, we are on track to achieve our target revenue of £40m by the end of the year.
“The profession is going through significant consolidation with heightened levels of merger and acquisition. In contrast to many, our approach seeks to build on the success of merging firms, ensuring we retain and build on their winning approach – an approach we believe is particularly liked by many of those looking to exit routes, the challenge of growing their practice or facing increased competition and the need to widen their service offering.”
Streets Law, the firm’s dedicated corporate and commercial law offering led by Managing Director and Solicitor, Adam Aisthorpe, undertook the legal work on behalf of Streets for the merger, including drafting the sale and purchase agreement and dealing with the due diligence process in collaboration with internal colleagues in the tax and audit teams at Streets.
Simpro Group acquires Leeds-based BigChange
Simpro Group, a leader in field service management solutions, has acquired BigChange, a Leeds-based pioneer in job management software for the field services industry.
This strategic acquisition of BigChange marks a significant milestone in Simpro Group’s journey, further expanding its capabilities while strengthening the depth and breadth of its offering and ability to scale rapidly across not only the UK, but the globe.
The acquisition of BigChange significantly enhances Simpro Group’s ability to deliver a prescriptive, end-to-end approach to field service optimisation, particularly in vehicle tracking, mobile workforce management, CRM, and advanced scheduling—areas where BigChange excels.
“Our acquisition of BigChange is an exciting opportunity to bring together the best of both companies,” said Gary Specter, CEO of Simpro Group. “With the integration of BigChange, we are not only expanding our portfolio and adding talented employees to our team, but also unifying our approach to field service management across the UK and the globe.
“Together, we will deliver even greater value to our customers, ensuring they receive the best solutions for their unique and evolving business needs.”
“This acquisition aligns perfectly with our customer-first mission,” added Specter. “The synergies between Simpro and BigChange, as well as AroFlo, and ClockShark create new avenues for growth, enabling us to offer a diverse range of solutions that cater to the evolving needs of trade and field service businesses around the world.”
The addition of BigChange to Simpro Group broadens their offering, complements solutions of Simpro, AroFlo, and ClockShark, and provides a wider range of field service management tools for businesses. This expanded portfolio allows them to offer more targeted solutions that help customers streamline their operations and stay competitive in the evolving field services market.
“As we move forward as part of Simpro Group, we are creating opportunities not only for our customers but also for our employees,” said Richard Warley, Chief Executive Officer at BigChange.
“This acquisition strengthens our ability to continue to innovate and grow, and we are excited to see the combined expertise of our teams and complementary technology solutions unlock new possibilities for the future on behalf of our customers.”
Ideal wins award for commitment to employee wellbeing
Hull-based Ideal Heating has won recognition for its commitment to wellbeing in the workplace in the Make UK North East, Yorkshire and Humberside Manufacturing Awards 2024.
The business, which employs around 1,000 people at its National Avenue Site in the city, won the Manufacturing Matters Award during the awards dinner at Ramside Hall in Durham.
The awards, organised by Make UK, the manufacturers’ organisation, recognise the outstanding achievements of companies from across the North East, Yorkshire and the Humber.
As part of its commitment, Ideal delivered a £1.9m “Physical Spaces” investment programme to enhance team facilities at its HQ. The project included enhanced kitchen and food preparation areas, improved office spaces, an outdoor eating area and multi-faith prayer room.
The company is also supporting the physical wellbeing of employees by providing access to a range of services including health checks for all site-based team members, a counselling service with a qualified family therapist, and physiotherapy.
As part of its commitment to supporting employees’ mental wellbeing, the business recently trained its first cohort of Mental Health First Aiders, to complement the First Aid team, and invested in training for team managers to cover mental ill health and drug and alcohol awareness.
Recognising the importance of financial security on the wellbeing of employees and their families, Ideal also recently began providing a Financial Wellbeing update every month covering a wide range of topics, including pension planning and savings tips.
Ideal Heating HR Manager Miriam Moore said: “We’re really proud that our commitment to supporting the wellbeing of our team members has been recognised at the Make UK Manufacturing Awards.
“Employee wellbeing is hugely important to us at Ideal Heating and we’ve put an enormous amount of effort into creating a safe and supportive workplace environment which enables our people to develop their skills and grow.”
Based in Hull since the company was founded in 1906, Ideal Heating is dedicated to creating a positive workplace culture by supporting team members in areas including health, finances and wellbeing.
Airedale opens new factory to meet demands of data centre customers
Leeds-headquartered critical cooling specialists Airedale by Modine has opened a 14.6-acre factory in Bradford in response to increasing demand from global data centre customers.
Airedale by Modine secured the site on the outskirts of Bradford in May this year and has since reconfigured the space for the manufacturing and testing of computer room air handlers and fan wall units. An existing facility in Leeds will focus on chiller production. Between the two sites, overall UK data centre production capacity is expecting to increase by 150%.
In addition to increased production capability, plans for the site include the construction of a state-of-the-art fan wall test center. Once complete, the new R&D facility will expand Airedale by Modine’s overall world-class testing capabilities and will see them welcome customers from across the globe for factory acceptance tests.
Further job creation to support longer term growth at the Bradford plant was forecasted by the company back in May, with a projection of over 200 highly skilled production and support roles being created over the next 3 to 5 years; approximately 10% of which are likely to be apprenticeship roles.
Adrian Trevelyan, MD at Airedale by Modine, said: “The opening of the new Airedale by Modine manufacturing facility in Bradford marks an important milestone for our organisation. With significantly increased capacity, we can offer extensive support to the development strategies of data center operators, whose growth reflects the unfaltering demand for digital applications in society.”
Chancellor urged not to tax family farms out of existence
Said NFU President Tom Bradshaw: “Let me be clear – changes to agricultural property relief and business property relief would be a devastating blow to British farming as we know it, the effects of which will be felt for generations to come.
“It’s hard to see anything which would destroy the new government’s relationship with farmers more completely, or do more damage to family farm businesses, be they the owners of farms or the tenants who farm them for the landlord.”
Signatories of the letter include the four farming unions – the NFU, NFU Cymru, NFU Scotland and Ulster Farmers’ Union.
Currently, Agricultural Property Relief and Business Property Relief allow working farm businesses to be passed to the next generation of farmers without incurring inheritance tax charges which they would be unable to pay without selling those businesses.
In particular, APR is an essential relief for farmers who rent land as part of their business model, with 64% of farmland occupied by farmers who rent some or all of their land.
Speculation hit the headlines last week when the BBC reported that the government is considering raising revenue by revising inheritance tax rules as part of its Autumn Budget, due to be announced this week.
Mr Bradshaw added: “The NFU, alongside other farming organisations, has set out to the Chancellor how Inheritance Tax reliefs underpin viable working farming businesses, of all shapes and sizes.
“Whether that’s large or small family farms, tenant farms or contracting businesses, almost every business producing food for the nation’s tables would be impacted.
“The average return of working farm businesses is less than 1%. Most would be unable to meet inheritance tax charges if APR or BPR was stripped away.”
The NFU President also warned legislated environmental targets could be in jeopardy as farm businesses manage the land and invest in environmental and biodiversity delivery.
“For the future of our family farms, food security and the environment we are calling on the Chancellor to urgently consider the sizable effect changes to APR and BPR could have. Farmers have been let down year after year by empty words and policies that negatively impact their businesses. I am imploring the Chancellor, don’t let that happen again on 30 October.”
Yorkshire business confidence remains resilient in October
Business confidence in Yorkshire and the Humber fell one point during October to 39%, according to the latest Business Barometer from Lloyds.
While companies in Yorkshire and the Humber reported higher confidence in their own business prospects month-on-month, up 12 points at 47%, their optimism in the economy fell 15 points to 30%. This gives a headline confidence reading of 39% (vs. 40% in September).
Looking ahead to the next six months, Yorkshire businesses identified their top target areas for growth as evolving their offering, for example by introducing new products or services (36%), investing in their team, for example through training (34%) and entering new markets (32%).
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
National picture
Overall UK business confidence dipped slightly in October to 44% – down three points from September’s 47%.
This was driven by marginal falls in firms’ confidence about their own trading prospects (53% vs. 56% in September) and the economy (35% vs. 38% in September).
The North East of England was the most confident UK nation or region in October (63%), followed by London (56%) and the North West (53%).
Sector insights
Firms’ trading prospects pulled back for the third consecutive month in manufacturing to 46%, the lowest level since March. There were also moderate declines of 3 points in both retail and services to 51% and 57% respectively.
Expectations in construction bucked the trend, rising to 50%.
Martyn Kendrick, regional director of Yorkshire and the Humber at Lloyds, said: “Although overall business confidence saw a slight dip in October, businesses are increasingly optimistic when it comes to their own prospects – a reflection of the strength and opportunity in our region’s economy.
“As businesses target further growth, and as they finalise their plans for next year, we’ll continue to be by their side to help ensure they’re equipped to make the most of whatever new opportunity lies ahead.”
ABP buys 21 acres to pave the way for Immingham port expansion
ABP has acquired 21 acres of land on the western side of the Port of Immingham in an off-market transaction, forming an important additional step the future expansion of the port estate.
The land, fronting Humber Road and Rosper Road, has a live hybrid outline planning application for up to 300,000 sq. ft of new industrial buildings or 16 acres of industrial open storage uses. The application is expected to be determined by North Lincolnshire Council planners soon.
Andrew Dawes, Director of the Humber ports said: “Acquiring this strategic site on the western side of the Port of Immingham is integral to bolstering our footprint and ensuring the Port – the UK’s largest by tonnage – has room for growth to meet the demands of our customers on the Humber.
“It underpins our commitment to pursuing our ambitious mission to continuing to provide essential gateways to Keep Britain Trading. Immingham is at the heart of the UK’s busiest trading gateway handling around 46 million tonnes of cargo every year.”
Greg Lacey, Head of Property said: “The site’s proximity to both Philips 66 and Prax is important, and we are considering how it could play into much broader energy projects for generation and storage – which is a key part of ABP’s new mission to Enable the Energy Transition, and in this particular case, play our part in helping decarbonise the Humber”.
ABP has a total portfolio of 8,600 acres across the UK, which includes over 2,400 acres of development land. The Humber property team can deliver commercial property solutions for businesses interested in prime industrial and logistics opportunities. ABP welcomed over 150 new occupiers in 2023 bringing a total of 2,000 tenants across the estate.
