Swansea headquartered law firm JCP Solicitors is expanding with the acquisition of Port Talbot-based Howe & Spender Solicitors.
Howe & Spender managing partner Ian Spender will be joining as a director in the lifetime planning team of the newly merged firms on completion of the deal in August, with director Souiful Alam having joined as a director in the commercial property team at JCP Solicitors earlier this year.
The team will maintain all private client and property work currently undertaken by Howe & Spender and expand the commercial and private services available.
The acquisition represents JCP Solicitors鈥 continued growth strategy and adds to its existing offices in Swansea, Carmarthen, Cardiff, Caerphilly, Cowbridge and Haverfordwest.
In its last financial year JCP posted revenues of 拢11m. For its current 2025/26 financial it is forecasting revenues of 拢13m.
Hayley Davies, chief executive of JCP Solicitors, said: 鈥淲e are delighted to announce this merger with Howe & Spender, representing our growth strategy in action as we continue to expand across South Wales.
鈥淥ur people are our priority, and we take careful consideration when it comes to mergers and acquisitions as we look for those who meet our values, the JCP ethos, culture and client-first focus. We are looking forward to working with the team at Howe & Spender to further develop our offering for clients in Port Talbot and the surrounding area, while also providing progression opportunities for colleagues and creating new career pathways in the region.
鈥淲hat is more, we are proud that this merger will support the long-term development for Port Talbot. Now is the time for businesses to consider investment in the town; the region is rife for regeneration opportunities as the business community diversifies. We will be delighted to support commercial and private clients across all areas of law, playing a key role in the regeneration of this resurgent seafront town.鈥
Mr Spender said: 鈥淗aving provided first class legal services to Port Talbot and the surrounding areas for 130 years, with client care always being our priority, joining forces with JCP Solicitors, a renowned Welsh law firm, is a fantastic strategic development for both businesses.鈥
鈥淥ur team at Howe & Spender brings a wealth of legal expertise and knowledge of conveyancing and lifetime planning matters to the JCP Solicitors鈥 client offering. All our current, private client work will continue under the newly merged brand.
鈥淥verall, this merger brings new investment to the region and represents an exciting new chapter for the business. It is fantastic to see the legal sector in Port Talbot continue to grow, and we are confident this merger will support new and existing clients and local businesses to access expert legal advice and guidance on their doorstep.鈥
BGF
BGF has committed to invest 拢100m to back high-growth businesses in Wales.
The equity investor, formerly known as the Business Growth Fund, said it forms part of plans over the next five years to invest 拢3bn to support firms across the 海角视频 to scale-up.
It also includes 拢300m ringfenced to back 海角视频 female run businesses. This follows an initial 拢25m pledge to the Invest in Women Taskforce (IWT), which contributed to raising over 拢250m in 2023.
Initial investments from the BGF range from 拢3m to 拢30m for growth-stage companies and 拢3m to 拢10m for early-stage ventures. BGF backs earlier-stage businesses in the life sciences and deep tech sectors, and growth-stage businesses across all sectors, typically generating annual profits of 拢1m to 拢10m.
Since being established in 2011 BGF has invested more than 拢4.5bn in 370 companies. Backed companies have generated 拢7.1bn in additional sales, 拢1bn in export growth, and created more than 27,000 jobs. Some 74% of BGF鈥檚 capital has been deployed outside London and the south east of England.
Companies in Wales it has invested in to date include PureCyber, Character.com, Victorian Sliders and IQ Endoscopes. In total it has injected 拢47m in equity into Welsh since 2011.
Cardiff-based BGF investor, Hannah King, said: 鈥淲e鈥檙e proud of our track record in Wales and excited to increase our investment through this 拢100m commitment. Welsh businesses have enormous potential, and we鈥檙e here to provide the capital and support to help them grow and scale sustainably.鈥
Debbie Wosskow co-chair on the Invest in Women Taskforce, said: 鈥淭his is another historic moment. BGF鈥檚 10% commitment to female-powered businesses is significant. At 拢300m in total it builds on our already ground breaking progress with the Invest in Women Taskforce, and is one of the largest ever made in the 海角视频.鈥
The 拢3bn pledged by the BGF over the next five years follows 拢2.3bn deployed between 2020 and 2024.
The 拢100m committed to Wales also includes projected funding from the 拢300m 海角视频-wide female funding pledge.
Space Forge
Cardiff-based Space Forge, which is pioneering advanced material in space manufacturing such as compound semiconductors via its returnable satellite technology, has a secured 拢22.6m investment to support its commercialisation plans.
In the biggest ever Series A fundraising round in the 海角视频 space tech sector, and one of the biggest for a Welsh start-up, Space Forge has been backed by a strategic global consortium led by the NATO Innovation Fund, with significant support from the World Fund, the National Security Strategic Investment Fund (NSSIF) and 拢2m from the British Business Bank through its regional angels programme.
The round has also been supported by the Cardiff Capital Region鈥檚 拢50m Innovation Investment Capital fund.
By harnessing the unique conditions of space-including microgravity, vacuum, and extreme temperature differentials-Space Forge, which employs 70 in Cardiff at Eastgate Business Park and also has a presence in Florida, is unlocking the ability to manufacture materials that are impossible to produce on earth.
These advancements have wide-reaching applications in compound semiconductors, quantum computing, clean energy, and defence technologies.
Research suggests space-made materials could cut CO鈧 emissions by 75% and energy use by 60% in key infrastructure, offering a powerful tool for strengthening climate resilience.
The latest investment will accelerate the development of the firm鈥檚 ForgeStar-2 next-generation returnable manufacturing satellite while also supporting its first in-orbit demonstration mission, ForgeStar-1, set to launch later this year in Florida.
Together, these missions will demonstrate a scalable, reusable platform for manufacturing high-performance materials in space-delivering breakthroughs for security, clean energy and infrastructure.
The technology offers a promising pathway to strengthen supply chains for semiconductor production, reducing dependence on vulnerable earth-based manufacturing systems.
Joshua Western, chief executive and co-founder, Space Forge, said: 鈥淭his funding marks a significant milestone-not just for Space Forge, but for the entire space economy. With the backing of our investors, we鈥檙e accelerating our mission to make space a practical and accessible platform for industrial-scale manufacturing.
鈥淥ur upcoming launches will prove that the future of materials innovation lies beyond earth, helping us build a more secure, sustainable, and technologically advanced world.鈥
he value of the equity investment by the Cardiff Capital Region in supporting the round has not been disclosed.
Its investment is the fourth from the fund which is managed by Capricorn Fund Managers with PwC providing on investment research and sourcing.
Leader of Cardiff Council and vice chair of the Cardiff Capital Region - a statutory body covering the 10 local authorities of south-east Wales - Huw Thomas, said: 鈥淐CR is proud to help fund Space Forge鈥檚 next steps in on-earth and in-orbit advanced manufacturing.
鈥淭heir trailblazing approach in the space industry is gaining interest and investment in a highly competitive tech sector and it鈥檚 very encouraging to see a local pioneering company on a global stage.鈥
Dr Paul Bate, chief executive of the 海角视频 Space Agency, said: 鈥淭his landmark investment in Space Forge is a powerful vote of confidence in the 海角视频鈥檚 growing space economy and its global leadership in space-enabled innovation. Based in Cardiff Space Forge exemplifies how cutting-edge space technology is thriving across all corners of the 海角视频.
鈥淏y transforming the way we manufacture high-performance materials, Space Forge is not only pushing the boundaries of what鈥檚 possible in orbit, but will also deliver real-world benefits on earth 鈥 from cleaner energy to more secure supply chains. We鈥檙e proud to support pioneering companies like Space Forge as they grow and help secure the 海角视频鈥檚 position at the forefront of the space and semiconductor sectors.鈥
The calibre of investors backing this round reflects Space Forge鈥檚 growing importance in advancing secure, sustainable technologies - across defence, aerospace, and clean tech sectors globally.
Chris O鈥機onnor, partner, NATO Innovation Fund, said: 鈥淲e are excited to be supporting Space Forge 鈥 a company that is innovating material manufacturing, while also advancing Europe鈥檚 access to space, supply chain independence and long-term resiliency. We look forward to working with the Space Forge team to leverage their technological breakthroughs in order to secure the future of NATO nations.鈥
Mark Barry, senior Investment director at British Business Bank, said: 鈥淲e are delighted to make this first investment under the new co-investment strategy as part of the regional angels programme.
The investment into Space Forge aligns with our overall programme goal to strengthen the 海角视频鈥檚 regional economy by supporting high-growth businesses, and to leverage the commercial potential from our existing portfolio.
鈥淲e first backed Space Forge through a partner back in 2021 and under Josh鈥檚 leadership, the company is delivering on its mission to be the in-space manufacturer of choice.鈥
Welsh Pension Partnership
The Welsh Pension Partnership (WPP) has consolidated 拢25bn of assets from eight local authority schemes into a new investment company.
While the super local government pension scheme cannot be compelled to invest in Welsh firms or projects, and operates a balanced investment strategy in the interest of pension holders, the 海角视频 Government鈥檚 pension reform agenda is looking for more local government pension schemes - as well as private funds - to back 海角视频 assets.
The WPP has completed, via a new investment company, the consolidation of the eight sub funds that cover all 22 Welsh local authority areas and represent 412,000 members. As well as creating the biggest pension fund in Welsh history, it will also generate significant external fund management fee savings.
The WPP had previously given a 拢68m mandate to invest in renewable projects in Wales from Bute Energy. It has now confirmed a 拢6.5m equity investment to back a major scale battery energy storage project from Quinbrook Infrastructure Partners, which forms part of the redevelopment of the coal fired Uskmouth Power Station site in Newport into one of the 海角视频鈥檚 battery storage locations. At the site Simec Atlantis Energy is also taking forward plans for three other new battery storage projects at its Uskmouth Sustainable Energy Park.
The WPP also recently confirmed a 拢30m deployment to support housing developers deliver much needed new homes. It has appointed specialist development and bridge lender Pluto Finance to manage 拢30m of its capital to back developers, particularly SME companies with a focus on delivering affordable homes.
An undisclosed element of the 拢30m has been ring fenced to back new housing projects in Wales, with the remainder assigned to Pluto鈥檚 海角视频-wide lending activities, which are mainly residential property developer related, but with some commercial. However, Wales has and will continue to benefit from its main 海角视频 fund investment activities.
海角视频 Minister for Pensions and Swansea West MP Torsten Bell, said: 鈥淧ensions are a massive part of the economy 鈥 and we鈥檙e seeing this brought to life here in Wales, where a successful local government pension scheme is investing in the right places to drive opportunity and growth for the local community.
鈥淚 was delighted to visit Uskmouth Power Station in Newport, which has had a 拢6m boost from the Wales Pension Partnership, creating 300 jobs which mean opportunity and prosperity at a local level.
鈥淢aking sure everyone can benefit from the potential of larger pension pools ties into the ambitions of our plan for change to boost investment in communities across the country, bringing long-term economic benefits.鈥
The WPP said: 鈥淭he Wales Pension Partnership investment in Uskmouth Battery Energy Storage Systems demonstrates our ambitions to attract investment into crucial Welsh infrastructure and secure national energy supplies.
鈥淭his investment shows our commitment to working with Quinbrook and our strategic partner GCM Grosvenor to deliver strong investment returns for our pensioners, ensure long-term energy security, reduce carbon emissions, provide jobs and regeneration opportunities across Wales. This is one of many projects that we have in our investment pipeline and will be unveiling over the next 12 months.鈥
Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans MS said:鈥淲e have long recognised the benefits of a strong single Welsh local government pension scheme pool. We want to see the Wales Pensions Partnership continue to go from strength to strength delivering returns for members and be able to invest in economic growth for Wales and the 海角视频.鈥
