Adam and Stephen discuss a management buyout at a wealth management firm, the South West's wealthiest young entrepreneurs and a landmark regeneration project in the West Midlands.
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00:00An MBO at a wealth management firm, the South West's wealthiest young entrepreneurs
00:04and a major regeneration project in the West Midlands, featuring today's business briefing.
00:13So Adam, what's caught your eye this morning?
00:15Some big property news in the West Midlands today, with plans having been submitted
00:20for the City Centre West Regeneration Project in Wolverhampton.
00:24City of Wolverhampton Council and ECF, a partnership between Homes England, Legal & General and MUSE
00:30have put forward detailed plans for the first phase of the scheme, which includes more than 330 homes
00:37as well as retail opportunities between Peel Street and Market Square.
00:42Now the submission also includes outline plans for the remaining phases of the master plan.
00:48Now the wider scheme is expected to create more than 1,000 homes
00:52as well as offer opportunities for shops, cafes and restaurants.
00:56And it will also support the provision of an enhanced Market Square.
01:00So definitely a significant scheme for the City.
01:03Now the Council will consider the application before making a final decision, which is expected early 2025.
01:10And if the scheme is approved, construction on the first phase could begin as early as next year.
01:18Sounds like a really exciting development there.
01:20Anything you want to keep an eye on?
01:22Well, as you may have seen online over the last couple of weeks, we're releasing data on our annual rich lists.
01:27We've covered a number of regions already.
01:30Today we've got more data from the South West list, where we've got a list of 10 entrepreneurs in the region aged 42 and under.
01:37So among those featuring are Red Paxton, who is the Chief Executive of Habitat First.
01:41That's a company that creates private holiday home communities for people who share a love of Mother Nature.
01:47Also on that is Max Caulfield-Moore, who is the Director of Serious Stages.
01:53Now that's a 35-year-old family company that manufactures and constructs stages and temporary structures for major events worldwide.
02:02Now the full South West rich list has been compiled by Robert Watts, who also does the Sunday Times rich list.
02:09And it can be found in the latest November edition of the South West Business Insider, which is available now.
02:14Definitely some exciting companies being featured on these lists that we've been covering.
02:17Another Midlands one from me, with a Warwickshire-based wealth management firm completing a management buyout with funding from Oak North.
02:25Beaufort Wealth Management provides financial advice to both retail and corporate clients.
02:30Now over the last few years, the business has expanded its services through a number of acquisitions of smaller firms,
02:36including the Hammond Group in 2020 and Coventry Money Centre in 2021.
02:41Following the MBO, which has been carried out by two of the firm's three co-founders, the business is keen to complete more acquisitions in the future.
02:50In the North West today, we have the news that a buyer is now being sought for a 100-strong family bakery in Lancashire, which is at risk of closure, sadly.
02:59Oddie's operates 13 locations across Lancashire. It's a fourth-generation family business.
03:05It was founded in 1905 by William Henry Oddie. Due to the well-documented rising energy costs and declining high street footfall, the owner family decided to sell the business.
03:16However, a late withdrawal by a potential buyer meant that it had to consider other options, including potential closure.
03:23It's being advised by assets and revenues solicitors, and discussions are being held with various interested parties,
03:29with a view to hopefully securing as much of the business and as many jobs as possible.
03:33Hopefully something positive.
03:35Yes, obviously very challenging times for the high street.
03:39That's it from us this morning. You can read more about those stories and others on insidermedia.com, where you can also subscribe to our newsletters and read about upcoming events.
03:49Goodbye.