Today’s news in brief – 24/6/2024

Gerald Edelman has acted as a buy-side financial adviser for Euston Ventures, aiding in the acquisition of Silex Limited, a UK-based silicone products manufacturer, and its German subsidiary, MVQ Silicones GmbH. Euston Ventures, founded in 2014, focuses on acquiring specialty manufacturing and engineering businesses. Silex, established in 1985, serves industries such as automotive, pharmaceutical, and aerospace, employing about 80 staff across the UK and Germany. Gerald Edelman provided detailed financial and tax due diligence. The transaction, involving cross-border complexities, aims to expand Euston’s presence in Europe and enhance its manufacturing capabilities. In their paper "UK General Election 2024: Tackling the UK Productivity Puzzle," AICPA and CIMA outline measures to address the UK’s productivity and skills crisis, advocating for the establishment of an Independent Productivity Commission. This body would develop a national productivity strategy and ensure a stable tax environment. The paper also emphasises the need for workforce upskilling, proposing changes to the Apprenticeship Levy and recognizing accounting as a STEM subject. Andrew Harding of AICPA and CIMA stresses that improving productivity is essential for economic growth, rising real wages, and sustainable public services. DTE Corporate Finance advised RJ Urmson Group on its sale to HSL Compliance, a major player in the UK compliance market. RJ Urmson Group, founded in 1992, specialises in fire and air ventilation compliance and will enhance HSL's water compliance services. Following the acquisition, Robert Urmson and his daughter Christina will continue leading the company, which will retain its branding. The partnership aims to leverage combined expertise to benefit clients and employees. DTE Corporate Finance's Jon Else and Lewis Pearson facilitated the deal, ensuring a seamless transition and successful conclusion. Crowe UK has welcomed 11 interns as part of its third year supporting the 10,000 Interns Foundation, which offers opportunities to underrepresented groups. The interns will work across five Crowe offices for a minimum of six weeks, receiving mentorship and professional development. Crowe joins over 700 organisations in this initiative, which has placed 5,000 individuals in paid internships since 2020. Crowe's CEO, Nigel Bostock, emphasises the firm's commitment to inclusivity and diversity, aiming to open traditionally exclusive industries. The program has previously led to permanent positions for participants, highlighting its success.