Happy Friday Rainmakers,
The summer lull is over, and everyone is optimistic that deals will get away again when everyone returns to work refreshed next week.
Also, what’s going on at Gateley, with corporate lawyer Paul Jefferson and former Manchester head following CEO Rod Waldie out of the door today.
Here’s a round-up of some eye-catching deals in the last week.
But first a reminder, this is free to all who have signed up, however Rainmakers subscribers get at least two unique pieces a week, one in the summer, and also full access to our back catalogue of investigations, scoops, and insights, including updates from The Secret Investor, interviews with entrepreneurs, and the leaders from VC and PE investors like Endless, Foresight, Mercia, and LDC.
A Newark built environment consultancy is getting a private equity spring in its step after securing investment from YFM Equity Partners.
BE Design, founded by Anna Tsartsari and Stephen Oakden, has brought in the investor as it looks to expand its services, grow its team and potentially make acquisitions.
The value of the deal has not been disclosed.
The consultancy works across civil and structural engineering, architecture, highways, geo-environmental services, health and safety, mechanical and electrical engineering and ESG.
It has carved out a niche working on complex brownfield and former industrial sites, with projects spanning logistics, industrial development and data centres across the UK and Europe.
The investment follows more than a decade of growth and the recent opening of a London office.
Tsartsari, chief executive, said: “We’ve spent over a decade building a business known for taking on the sites and challenges others shy away from, and we’ve done it by investing in exceptional people. YFM understood that from our first conversation, and that’s exactly why this partnership feels right.
“This investment gives us the backing to continue investing in our people, deepen our culture and push innovation further, while staying true to the way we’ve always worked. It’s a huge moment for BE Design, and I couldn’t be prouder of what this team has built and where we’re taking it next.”
YFM said the fragmented nature of the built environment consultancy market could provide opportunities for further acquisitions alongside organic growth.
Dan Freed, who led the investment for YFM alongside Oliver Wheatley, said: “Anna and Stephen have built a consultancy with a genuine specialism – the technical capability to unlock complex sites that others can’t, in end markets with real momentum behind them.
“The quality of the team, the strength of their client relationships and the clear opportunity for organic growth, complemented by strong potential for M&A in a growing fragmented market, made this a compelling investment. We’re looking forward to working with the team on the next stage of the journey.”
Richard Sanders will join BE Design as chairman following the deal.
So, with private equity in the passenger seat and M&A firmly on the map, BE Design looks set to keep digging into the tricky sites others might rather leave alone.
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Daresbury-based investor PHD Industrial Holdings is claiming vindication for its patient ‘corporate compounding’ investment model after selling Hylomar Holdings, a Wigan-based manufacturer of high performance sealing and adhesive materials for demanding industrial and engineering applications, to Chase Corporation.
Hylomar has more than 60 years of experience in developing and manufacturing high-performance sealing and adhesive materials.
Chase Corporation, headquartered in Westwood, Massachusetts, is a global leader in the development and manufacture of engineered materials for high-reliability applications.
As PHD’s Craig Richardson said: After originating and negotiating the acquisition back in 2017 and helping the business develop over nine years with a five fold increase in profits with Philip Price I was pleased to have taken the unsolicited call from Chase and negotiated the sale price which we can’t disclose.”
PHD’s claim its ‘corporate compounder’ model compares favourably to traditional private equity, as it can invest for the long term without having to sell businesses within restrictive fund cycles.
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Astra Holding Group, the London-based investor focused on acquiring stable, profitable British businesses and preserving their legacy, has added insurance repair specialist DNH Construction to its growing portfolio of B2B services businesses.
Plymouth-based DNH handles fire, flood, structural and subsidence repairs for major blue-chip insurers across the South West. Founded in 1987, it’s exactly what Astra targets: founder-led, cash-generative, serving reliable corporate clients with 40+ staff and projects worth up to £3m.
Managing director Simon Holmes is staying on, consistent with Astra’s approach of supporting continued growth rather than aggressive optimisation.
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A pair of West Yorkshire marketing agencies have now joined forces to pool their collective expertise. Fishtank Agency, which is based in Mirfield, has netted Boom Marketing as Boom’s own managing director Andrew Moore retires. Boom Marketing was founded by Moore in 2013 and offers creative marketing solutions, including website design, graphic design and signage. Over the past 13 years it has built a client base across blue-chip, retail, manufacturing and distribution sectors.
The deal builds on a lasting business relationship between Moore and Fishtank Agency founder and managing director Damien Fisher. And the new professionals arriving from Boom Marketing comprise the second wave of talent to join Fishtank this year, following its merger with Wild PR.
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Headlam Group is rolling up another corner of its business, completing the €850,000 sale of its Netherlands operations to SIL 2025, a company managed by Rcapital Partners.
The deal covers Headlam Holdings B.V., Headlam B.V. and Dersimo B.V., with around €170,000 in net proceeds after costs earmarked for working capital.
The disposal forms part of a wider plan to strip back the group and focus solely on the UK flooring market.
Headlam launched its transformation programme last year after a prolonged market downturn pushed losses higher. It has since set its sights on delivering at least £35m of annual profit improvements by the end of 2026.
The plan includes consolidating its network, centralising buying and shrinking its warehouse footprint – essentially giving the business a smaller footprint to stand on.
Rob Barclay, chief executive of Headlam said: “The completion of the sale of our Netherlands businesses marks another step towards creating a simpler, more focused Headlam, centred solely on the UK market. We are pleased to have reached an outcome that provides the Netherlands businesses with a focused ownership structure and the support of an experienced investor.”
The sale follows a testing period in the boardroom, after activist investor First Seagull attempted to remove three directors earlier this year.
With its Dutch operations now out of the picture, Headlam is hoping its UK-focused strategy will provide a firmer foundation for its next phase – and that the turnaround finally starts to stick.
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Allan Corfield Architects (ACA) and its sister company Allan Corfield Structures (ACS) have been bought out of administration by DJI Architecture.
Founded in Dunfermline in 2009, ACA is a specialist in the self‑build and custom‑build sector, while ACS was established in 2020 to provide structural engineering services to those using modern construction methods.
The businesses employed 14 staff – 10 at ACA and four at ACS – who were all made redundant following the liquidations.
DJI Architecture has subsequently been able to bring over 10 of them, with 100% retention in Dalgety Bay and Dunfermline, save for the departing ‘oldco’ shareholders Allan and Emma Corfield.
The business will initially trade as ACA, led by existing senior management team David MacFarlane, Iga Panczyna and Jenny Chandela, working alongside Rod J McMillan, a non-executive director and investor, who becomes non-executive chair.
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Paul Jefferson is to step down from Gateley, following chief executive Rod Waldie out of the stock market listed practice.
Jefferson, has been a corporate lawyer for 34 years, first with DLA, then with Halliwells, before the last 16 years at Gateley where he served as office managing partner in the Manchester office.
He joined Gateley’s strategic board in October 2022.
He said on LinkedIn: “Friday is my last day in the office and I am retiring from private practice to see what being a real person is like!”
Born in the North East, his other interests outside of the law include as a director and founder of Horneywink Cider and the chair, of the PXN Growth VCT.
He has acted for finance group Praetura since it was in started in 2011, and advised the founders when it merged with Par Equity to form PXN Group.
Cornish cider brand Horneywink was founded by Jefferson’s school friends Chris and Sara Reid and is based near Falmouth.
As for Gateley, the firm has recently bolstered its corporate team with the addition of veteran corporate lawyer Danny Hall, joining the firm to work alongside partners Charles Glaskie and Leigh Whittaker.
In July TheBusinessDesk.com reported that the listed legal and professional services group reported record revenue of £194.3m for the year to 30 April 2026, up 8.2% on the prior year, but that chief executive Rod Waldie was to step back from the role due to personal health-related circumstances.
Gateley also revealed that its net debt of £25.3m at the year end had soared from £6.6m the previous year, which it said had been driven by increased working capital, alongside acquisition consideration payments, dividends paid and EBT share purchases.
The Birmingham-headquartered group went through an IPO in 2015 and has remained a listed professional services group since.
We have great pleasure in opening up ticket sales for a series of Rainmakers lunches starting with the Birmingham lunch on the 23rd of September 2026 at Regina’s in Birmingham.
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