A round-up of latest news-in-brief from the region...
Premium pub portfolio snapped up in £22.5m deal
Fuller, Smith & Turner has acquired the Lovely Pubs portfolio in a £22.5m deal that retains 260 jobs.
The collection of seven premium pubs in Warwickshire and Solihull comprises The Orange Tree in Chadwick End, The Boot Inn at Lapworth, The Farm in Monkspath, Morton’s Kitchen in Dickens Heath, The Baraset Barn in Alveston – which comes with 16 individually designed bedrooms, The Moat House Inn at Kings Coughton, and The Queen’s Head in Stoke Pound.
https://www.thebusinessdesk.com/westmidlands/news/2089030-premium-pub-portfolio-snapped-up-in-22.5m-deal
Construction partner chosen for historic town hall project
Following the completion of preparatory works at Leamington Town Hall, Warwick District Council has announced the appointment of a contractor. Stepnell, the Rugby based construction contractor, was chosen for their experience in similar projects nationwide—including the rejuvenation and conservation of the Royal Shakespeare Company’s Costume Workshop in Stratford-upon-Avon—will lead the first phase of work to establish a new Creative Hub at the Town Hall.
https://www.thebusinessdesk.com/westmidlands/news/2089394-construction-partner-chosen-for-historic-town-hall-project
Business confidence rises in the West Midlands - Lloyds Bank
According to the latest Business Barometer from Lloyds Bank Commercial Banking, West Midlands business confidence rose 15 percentage points. The West Midlands businesses identified their top target areas for growth as investing in staff, introducing new technology, and evolving their offering, for example by introducing new products or services (39%).
https://thebusinessmagazine.co.uk/corporate-finance/business-confidence-dips-in-south-west-but-rises-in-the-midlands-lloyds-bank/
Aston Martin’s new CEO from Bentley to take over in September
Warwickshire-based luxury car marque Aston Martin Lagonda has announced that Adrian Hallmark will take over the role on 1st September. With more than 25 years’ senior experience in the luxury automotive sector, Adrian joins the Warwickshire business from Bentley Motors, where he’s served since 2018 as chairman and CEO.
https://thebusinessmagazine.co.uk/recruitment-careers-hr/aston-martins-new-ceo-to-take-the-wheel-in-september/
Leamington Spa micro turbine pioneer falls into administration
A pioneer in the design, development and manufacture of Micro Turbine Gensets for the telecom tower market has fallen into administration after struggling to secure next stage funding.
https://thebusinessmagazine.co.uk/corporate-finance/leamington-spa-micro-turbine-pioneer-falls-into-administration/
Hewland Engineering Opens Midlands Technical Centre in Southam
Hewland, a legend in vehicle transmissions dating from motorsport in the 1960s, and now owned by Indian motorcycle giant Hero Motors, has recently opened a Midlands Tech Centre in Southam.
https://www.linkedin.com/posts/hewland-engineering_on-tuesday-we-celebrated-the-opening-of-our-activity-7217488570150776832-Gux-?utm_source=share&utm_medium=member_desktop
Electric taxi maker loses £100m after drop in drivers
The Ansty-headquartered electric taxi manufacturer made a pre-tax loss of £104m. London Electric Vehicle Company (LEVC) said in newly filed accounts at Companies House, that it had been hit by a falling number of drivers in central London and new drivers completing the ‘knowledge test’, as well as the pressure of inflation and high interest rates.
https://www.thebusinessdesk.com/westmidlands/news/2089516-electric-taxi-maker-loses-100m-after-drop-in-drivers
UKBIC appoints new Managing Director
The UK Battery Industrialisation Centre (UKBIC), the national battery manufacturing scale-up facility, has appointed Sean Gilgunn as its new Managing Director. Sean, who will take up the post at the Baginton-based £130m facility in October, joins UKBIC from Johnson Matthey.
https://www.ukbic.co.uk/ukbic-appoints-new-managing-director
Warwick-born EV charging company collaborates with Qinetiq on defence project
Solus Power, which is pioneering innovative electric vehicle (EV) charging solutions, has signed a Memorandum of Understanding (MOU) with global defence and security company, QinetiQ, to research and develop advanced EV charging solutions, appropriate to fleet charging and infrastructure, as well as to the specific needs of the Ministry of Defence (MOD).
https://thebusinessmagazine.co.uk/technology-innovation/warwick-born-ev-charging-company-collaborates-with-qinetiq-on-defence-project/
West Midlands SMEs to benefit from government's warship and submarine agreement
Small British businesses are to benefit from a new government warship and submarine agreement.
The agreement will see far greater access from the Ministry of Defence directly to small and medium-sized enterprises (SMEs), allowing them to bid for work under a seven-year framework worth up to £850 million.
https://thebusinessmagazine.co.uk/manufacturing-engineering/west-midlands-smes-to-benefit-from-governments-warship-and-submarine-agreement/
Nuneaton IT company snapped up by leading South West comms business
IT and cyber security company Colbek Systems, based in Nuneaton, has been acquired by Flotek Group. Flotek Group will retain the entire Colbek Systems Ltd team.
https://thebusinessmagazine.co.uk/corporate-finance/nuneaton-it-company-snapped-up-by-leading-south-west-comms-business/
Immersive technology suites give Coventry unit students hands-on learning
The next generation of healthcare and engineering professionals are now being trained using the latest immersive technology following a £3million investment at Coventry University. The university’s School of Health and Care has opened its new VR Cave Automatic Virtual Environment (CAVE) suite, while its College of Engineering Environment and Science has installed a Powerwall.
https://thebusinessmagazine.co.uk/technology-innovation/immersive-technology-suites-give-coventry-unit-students-hands-on-learning/
Leamington marketing company doubles headcount
Just six months from launch, Leamington marketing agency The Alternative, has welcomed three new faces to its team: doubling its headcount. Fulfilling the roles of Digital Lead, Creative Lead, and Project Lead, the latest additions will bring more than two decades of combined experience to the fledgling studio and will oversee client strategy, creative and delivery.
https://thebusinessmagazine.co.uk/recruitment-careers-hr/leamington-marketing-company-doubles-headcount/
TechWM welcomes more to the Board
TechWM, the organisation driving growth of the West Midlands tech sector, has further strengthened its local partnerships with the appointment of four new patrons. Developer Rigby Group, managed IT services provider SCC, pre-seed investor Haatch, and investor Midven have been welcomed on board to help make the West Midlands a Global Tech Superpower by 2030.
https://thebusinessmagazine.co.uk/technology-innovation/techwm-welcomes-more-to-the-board/
"An opportunity to inspire and catalyse the next generation of leaders"
The inaugural Raise Up Conference aims to deliver an experience that is uplifting and empowering to women in the workplace.
https://chalmersnewspr.co.uk/new-inspirational-event-promises-to-raise-up-women/
Former conference and training facility built in the 17th century brought to market
The 0.81 acre site of a former conference and training facility in Warwick, which was built in the late 17th century and has potential for a number of alternative uses, has been put up for sale. It is being sold by Savills on behalf of Warwickshire County Council, which has owned the building since 1946. The facility closed in March 2024.
https://www.insidermedia.com/news/midlands/former-conference-and-training-facility-built-in-the-17th-century-brought-to-market
Warwickshire hotel reveals £1.5m transformation
A boutique hotel in Warwickshire has revealed newly refurbished bedrooms after a £1.5m transformation. Mallory Court Hotel and Spa in Leamington Spa has revamped all 19 rooms in the manor house. The renovated rooms each feature designer floral and geometric wallpapers and fabrics from Romo and GP & J Baker.
https://www.thebusinessdesk.com/westmidlands/news/2088531-warwickshire-hotel-reveals-1.5m-transformation
Plans for Warwickshire solar farm approved
Plans for a solar farm and battery storage facility in Warwickshire have been given the green light. The 55-hectare (136-acre) site near Honiley Road, Kenilworth, will be used to generate electricity for the National Grid.
https://www.thebusinessdesk.com/westmidlands/news/2088624-plans-for-warwickshire-solar-farm-approved
Over 120 jobs gone as modular housebuilder enters administration
Administrators have been appointed at a Coventry modular housebuilder after it struggled with rising costs and relocation issues. Modpods International, based until recently at Stoneleigh Park, entered administration on August 12th.
https://www.thebusinessdesk.com/westmidlands/news/2089350-over-120-jobs-gone-as-modular-housebuilder-enters-administration
Region's biggest tech festival returns in October
Birmingham Tech Week, the UK's largest regional technology festival and conference returns for its sixth edition this year. From 21-25 October, the event is set to be the biggest yet; with over 8000 attendees and hosting 100+ speakers.
https://thebusinessmagazine.co.uk/companies/regions-biggest-tech-festival-returns-in-october/
Midlands receives £150M of start-up loans from British Business Bank
£150 million worth of loans from this start up programme are being given to small businesses in the midlands.
https://thebusinessmagazine.co.uk/companies/midlands-receives-150-million-of-start-up-loans-from-british-business-bank/