Fintel, a provider of software and support services to the UK retail financial services sector, has released its unaudited results for the six months ending 30 June 2025.

Group revenue rose 18.6% to £42.4m, with organic growth contributing 4%. Adjusted EBITDA margins were maintained amid ongoing investment, supported by strong cash conversion. The company held £8.4m in cash with net debt of £30.1m, and £81.5m headroom under a new £120m revolving credit facility.

The acquisition of Rayner Spencer Mills Research (RSMR) was completed during the period, with an initial cash outlay of £6.4m. RSMR contributed £1.7m in revenue and £0.6m in EBITDA. Fintel announced an 8.3% increase in its interim dividend to 1.3p.

Revenue in the Software & Data Division increased 17% to £18.4m, with £12.3m from recurring sources. EBITDA for the division reached £6.9m. The Services Division recorded 20% revenue growth to £24.0m, including £11.9m in recurring revenue, generating £6.5m in EBITDA.

During the period, Fintel restructured from three divisions to two, appointing John Milliken as CEO of Software & Data and Alex Whitson as CEO of Services. The integration of acquisitions and the simplified operating model support Fintel’s shift toward a software‑ and data-led recurring revenue model.

The company reports that trading since 30 June 2025 remains in line with expectations and positions Fintel to capture growth opportunities across the UK financial services sector.

Beech Tree Private Equity has invested in Inspiro Learning, an independent training provider delivering both apprenticeship and commercial training to the automotive, rail, energy and service sectors, snapping up the business from Inspirit Capital. Inspirit acquired Inspiro in February 2023 through a corporate carve-out from Babcock International. Under Inspirit’s ownership, the business has undergone significant transformation, enhancing its operations and governance while cementing its reputation for excellence in vocational and technical training. Inspiro’s earnings more than doubled during Inspirit’s hold period and Qualification Achievement Rates improved. Inspiro partners with some of the UK’s most trusted brands such as BMW, Volkswagen, Jaguar Land Rover, Network Rail, Sainsbury’s, John Lewis and EDF. The partnership with Beech Tree will bring significant investment to enhance service delivery, expand technical training capabilities into adjacent sectors, and pursue strategic acquisitions. Stuart Wilson, CEO of Inspiro Learning, said: “Our journey since becoming independent from Babcock has been one of rapid growth, strong partnerships, and outstanding learner outcomes. “This investment from Beech Tree, alongside the reinvestment from Inspirit, demonstrates belief in the strong business we have built, underpinned by a passionate and talented team. We are excited to accelerate the organic growth within the Business, expand into new areas of technical training and enhance the value we bring to employers and learners alike.” Andy Marsh, managing partner at Beech Tree, said: “We are thrilled to partner with Inspiro Learning. Their passion for delivering exceptional education outcomes aligns with our views on delivering high quality training and putting the learners at the centre of every decision. “We plan to continue to raise standards by investing further in people, facilities and technology to enhance service delivery as well as strategic acquisitions to accelerate the momentum of the business.” Paul Youens, investment director at Inspirit Capital, said: “When we acquired Inspiro, we recognised the opportunity to back a talented team with deep capabilities and a vital role in the UK skills market. Stuart and the team have delivered outstanding growth, strengthening the business and establishing a robust platform for the future. “We are proud of what has been achieved and believe Beech Tree is an excellent partner to support the next phase of growth. We are also delighted to retain a minority stake, reflecting our confidence in Inspiro’s continued success.”

A Yorkshire scaffolding boss who fraudulently obtained £100,000 in Covid loan funds has been ordered to repay the money in full, with interest of more than £15,000. Mark Degnan repaid £55,608 before appearing at Leeds Crown Court on Monday 15 September where he was ordered to repay the remaining £59,578 within six months. If Degnan fails to pay back the money, he will face a year in prison. This comes on top of Degnan receiving a two-year suspended sentence in January this year after inflating his turnover to secure the two £50,000 Bounce Back Loans in 2020 for MBL Scaffolding Services Ltd. Alexander Grierson, head of asset recovery at the Insolvency Service, said: “Mark Degnan cynically exploited a scheme designed to help small businesses during the pandemic by exaggerating his company’s turnover and obtaining two loans when companies were only allowed one. “Securing this confiscation order is important as it means Degnan must pay all the money back plus interest or go to jail. The Insolvency Service remains committed to pursuing fraudsters who abused the Bounce Back Loan Scheme and will continue to use all available powers to ensure criminals do not financially benefit from their illegal activities.” Degnan claimed in both fraudulent applications to separate banks in May and July 2020 that MBL Scaffolding Services Ltd’s turnover was £500,000. These applications were made despite dormant company accounts being filed for 2019. Investigators found that the company’s turnover in 2019 was closer to £162,000, meaning that it was still ineligible for the full amount. Under the rules of the scheme, businesses could borrow up to a quarter of their annual turnover, with a maximum loan of £50,000. Degnan was sentenced to two years in prison, suspended for two years, at Leeds Crown Court in January 2025. He was also disqualified as a company director for five years and ordered to complete 50 hours of unpaid work.