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Today’s news in brief – 20/5/2024

Beever and Struthers has advised Lancashire-based Plastic and Rubber Group (PAR) on its sale to R&G Fluid Power Group. PAR, known for its bespoke engineering services and product distribution, will now be part of Diploma PLC’s UK aftermarket business. PAR’s directors will stay on to integrate with R&G’s existing operations. This acquisition, led by corporate finance director Dean Curtis and executive partner Caroline Monk, follows Beever and Struthers’ previous advice on PAR’s acquisitions. The deal ensures continued growth and opportunities for PAR and its employees under the R&G umbrella.

Moore Thompson has merged with Stamford-based Jackson and Grimes, absorbing its entire workforce, including three directors. This merger enhances Moore Thompson’s presence in Stamford and aligns with their ethos of excellence and community engagement. The integration aims to provide a broader range of accountancy and advisory services to clients. Mark Hildred, managing partner at Moore Thompson, highlighted the synergy between the firms and the shared values, ensuring continuity and enhanced service offerings. The merger also secures succession planning and sustained high-quality service for Jackson and Grimes’ clients and staff.

BDO’s latest Football Investment Survey has revealed that despite financial losses for 90% of top league clubs in the 22/23 season, investor interest remains high. Only three Premier League and one Championship club reported a profit before tax. However, 50% of Premier League and 33% of Championship respondents still viewed their finances as “very healthy.” The survey suggests that clubs prioritise financial sustainability over profitability, with substantial investments in players to remain competitive. Institutional investors see potential returns through promotion and commercial optimization, with a clear exit strategy in mind.

UHY Hacker Young Manchester has increased its team by over 50%, adding 25 new members in 2024 alone, as part of its goal to double in size by 2027. The firm has also promoted 19 team members internally, fostering career growth and talent recognition. CEO David Kendrick emphasised the strong team culture and its role in achieving the firm’s ambitious growth targets. UHY Manchester plans further expansion of office facilities to accommodate this growth, aiming for a 200% increase in team size and enhanced service delivery by 2027.

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