Maven raises temperature, Swedes swoop for SAS and Westbrook lands at DC
Your Friday freebie and several reminders about the Rainmakers conference
Hello Rainmakers,
Happy Friday.
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This week you will have had a profile on Mel Hird from Fresh Thinking and a wash up about the latest move for High Street staple Boots.
Before we get going, I also need to remind you that it’s our Rainmakers conference in less than a couple of weeks time, and I really, really don’t want to have those calls I had last year, the day before the doors opened.
“Got a spare ticket mate? They’re saying it’s sold out.”
It was. And I didn’t.
Rainmakers 2025 – Wednesday 26 March, 2025 – and secure your place today.
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Deals this week from around the patch
Private equity firm Maven Capital Partners and investor Ethos Partners have cranked up the thermostat by leading a management buyout of Tamworth-based HVAC provider, Elite KL, now rebranded as Calatherm.
The company, already known for its thermal management solutions, is now heating things up with clients like JCB, Morgan, Ravo, and Northern Rail across the UK, Ireland, Europe, and Australia.
Looks like Calatherm has got the hot market cornered - and it's definitely not just blowing hot air!
Operating out of a 40,000 sq ft facility in Tamworth, Calatherm is making waves in the green energy sector, working on everything from zero-emission vehicle solutions to sustainable heating and cooling technologies.
With fresh backing from the buyout, Calatherm is firing up its growth strategy and bringing in some top-tier talent.
David Roberts, former CEO of Nu-Heat, steps in as Chair, while Frank Duffin, former CFO of John McGavigan, joins as Non-Executive Director.
Kim Wigley (financial controller) and Daniel Jackson (director of business development) have also been brought in to keep the engine running.
Mark Holmes, CEO of Calatherm, summed it up: “This is more than just a rebrand – it’s a transformation that reflects our new beginnings under private ownership. We are building on over 80 years of engineering expertise to deliver cutting-edge thermal solutions for electric and hydrogen vehicles, playing a vital role in the global transition to clean energy."
And with the clean energy tech sector valued at over $700bn and expected to rise to more than $2trn in the next decade (Source: IEA), Calatherm is in the perfect spot to play a key role in the transition to EV and hydrogen fuel cell-powered vehicles.
Calatherm is not just heating up the market - it's ready to help it explode in the next wave of clean tech.
Rainmakers 2025 – Wednesday 26 March, 2025 – and secure your place today.
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Maven were also busy in the North West as Altrincham-based closed user group discount platform Digital Rewards Group (DRG) received a “significant investment” to fund its expansion, particularly in the US market.
DRG provides access to exclusive discounts and experiences through its Kids Pass platform, establishing itself as a market leader in discounted, family focused experiences and attractions across the UK.
It also owns and operates other dedicated digital platforms, including Global Hotel Pass and DaysOut.com.
Led by group CEO, Andrew Kilmartin, and UK CEO, Dave Clayton, DRG has experienced significant growth in recent years, with impressive net revenue growth, creating valuable savings for key consumer groups and incremental revenue streams for its partner brands.
Backing came from Maven’s new Management Buyout Fund II and was led by Ryan Bevington and Jeremy Thompson, partners in Maven’s Manchester office, with ThinCats providing senior debt funding for the transaction alongside the Maven investment.
Rainmakers 2025 – Wednesday 26 March, 2025 – and secure your place today.
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More evidence of the tectonic plates shifting in the advisory world. Andy Westbrook is to join DC Advisory, the international investment bank, as Managing Director based in the firm’s Manchester office.
The former senior partner at Deloitte, and one of the heavyweight Rainmakers of the last twenty years, has been hired to drive DC Advisory’s North presence as the business scales its activity across the UK, joining an experienced team of 20 in Manchester and 230 in the UK.
He brings close to 30 years experience, most recently at Deloitte as Practice Senior Partner for the North West, leading all activity and personnel in the North and Scotland.
Deloitte’s decision to withdraw from the regions rocked the market last year, and all eyes have been on what Westbrook might do next, as other advisory firms move in on the market.
Rainmakers 2025 – Wednesday 26 March, 2025 – and secure your place today.
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Tuesday’s profile interview on here was with Melanie Hird from Fresh Thinking Capital. It’s honest, as you would expect from a formidable plain speaking Yorkshire woman, but it’s also tinged with so much vulnerability and humility.
There’s something magnetic about Mel, founder and director of Fresh Thinking Advisory. Everywhere she’s worked, people have wanted to work directly with her.
People seek out her opinion. When she speaks at an event, the chances are, it’s always her voice you recall afterwards.
One wealthy client of one of her previous employers tried to poach her to run his family office.
Entrepreneur and former Dragon Theo Paphitis is a huge fan of her approach and her method and her direct way of speaking.
She’s also very self-aware of what she brings, and how she fits in.
“I wouldn’t say what I do is groundbreaking, but I would say that I am influential. People say they feel inspired by my advice and can-do positive attitude and want to hear more. I am down-to-earth and keep myself grounded. I try to give the best advice and am honest and straightforward, which has served me well over the years.”
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You'd struggle to find a more macho business abbreviation than SAS (Senior Architectural Systems), but no doubt it was more than just the shortened name of this Doncaster-headquartered firm which caught the attention of a Scandinavian giant.
SAS has been acquired by Swedish products group ASSA ABLOY, which employs 63,000 people, operates worldwide and offers products such as mechanical and digital locks, cylinders, keys, tags, security doors and automated entrances.
150-strong SAS has been around for 34 years and supplies aluminium windows, doors and curtain wall systems to the UK's commercial construction sector. The acquisition forms part of ASSA ABLOY's strategy to bolt on complementary products and solutions to its core business.
Rainmakers 2025 – Wednesday 26 March, 2025 – and secure your place today.
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Leicester-based Obsequio Group, already a hot contender in fire detection, safety, and water hygiene, has just stepped up its game by adding asbestos compliance to its portfolio with the acquisition of Environtec.
And guess who’s behind this fiery deal? None other than European financing specialist Kartesia, in partnership with Beech Tree Private Equity - giving Obsequio the extra muscle to fuel its buy-and-build strategy.
M&A director Philip Sarthou called the acquisition a key step in expanding Obsequio’s compliance capabilities and customer reach. Chairman Simon Cashmore reaffirmed plans to grow through further acquisitions.
The acquisition has already expanded Obsequio’s reach, with its first office in Scotland.
Talk about raising the bar for safety across the UK - now they’re covering all the bases (and no, we’re not talking about fire drills).
Obsequio is ready to tap into Environtec’s 215 staff and vast asbestos compliance knowledge, which means from Newcastle to Newport, no stone will be left unturned - or in this case, no asbestos uninspected.
The deal now offers clients a one-stop safety shop, covering everything from fire and security to water hygiene, air quality, asbestos, and electrical safety.
And with most of Environtec’s team sticking around, Obsequio is ready to keep growing—because what’s better than one team on fire? Two teams!
Rainmakers 2025 – Wednesday 26 March, 2025 – and secure your place today.
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Rainmakers 2025 – Wednesday 26 March, 2025 – and secure your place today.
The Point, Emirates Old Trafford, Manchester.
The 2025 Rainmakers Conference is being supported by BGF, Dow Schofield Watts, NorthEdge, Palatine, Shawbrook, Squire Patton Boggs, while PHD Industrial Holdings is a breakout room partner.
Michael Taylor, editor at TheBusinessDesk.com said: “A great deal has been done behind the scenes to ensure the Rainmakers community – investors and advisors – continue to contribute to the prosperity of the North, under a new government.
“We have also developed our dedicated Rainmakers platform to bring lively commentary, investigations and exclusive interviews.
“This has been a game changer in shaping the level and quality of the conversation around the challenges and opportunities, and has given a voice to this community.
“In March 2025 TheBusinessDesk.com is returning with Rainmakers 2025 which promises to bring more opportunities to network, more amazing speakers, more candid debate, more inspiring entrepreneurs, but also a chance discuss the challenges of value creation.”
The first Rainmakers Conference this March sold out, with more than 400 people attending to hear the insights and perspectives from entrepreneurs, investors and advisors, and to network with senior figures from across the corporate finance community.
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Tickets:
Standard Ticket | £199
For finance professionals shaping deals, investments, and strategies in the corporate finance sector.
Industry Leader Ticket | £125 + VAT
For CEOs, CFOs, and senior management driving financial success in their industries.
Book your tickets today at www.rainmakersconference.co.uk
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