The Shareholder Committee met on Tuesday 14 July 2026 and approved the business plans for two council-owned companies, Evolve Norse and Waltham Forest Services Ltd. The committee also noted the financial performance of Evolve Norse for the previous financial year and approved changes to the board structure of Waltham Forest Services Ltd.

Evolve Norse Business Plan 2026/27 and Company Performance for 2025/26

The Shareholder Committee approved the Evolve Norse Business Plan for 2026/27. Evolve Norse is a property services and built environment joint venture between Waltham Forest Council and the Norse Group, established in April 2022. The committee also noted that the company did not incur any financial losses in the 2025/26 financial year and generated £27,000 in rental income for the council. The report highlighted Evolve Norse's work in supporting the council's Capital Investment Strategy, including projects such as the £2.0 million schools' capital repairs programme, construction of a new activity studio at Willowfield School, and progression of the new crematorium project in Chingford. The business plan for 2026/27 forecasts a net operating profit of £286,000 and includes objectives to continue supporting the council's capital investment strategy, maintain high-quality service delivery, and ensure the joint venture's commercial viability.

Waltham Forest Services Ltd 2026/27 Business Plan

The committee approved the 2026/27 Business Plan for Waltham Forest Services Ltd, a wholly owned subsidiary of Waltham Forest Council established in 2018. The company operates under the brands Servicestore (facilities management, property maintenance, gardening, pest control, and renovations) and Kanopiworks (retrofit services including solar panels, heat pumps, and insulation). The committee noted the company's performance against its 2025/26 Business Plan, which saw turnover surpass targets and over £2.4 million reinvested into council budgets since its inception. The 2026/27 plan forecasts strong sales, driven by expansion in both council and non-council contracts, particularly in housing, and an increase in revenue for ad hoc services. The committee also approved changes to the company's board structure, which will support business growth and includes non-executive directors and council officers. The report highlighted that Waltham Forest Services Ltd has delivered significant social benefits, exceeding £5.5 million in the last two financial years, and that Kanopiworks has secured substantial grant funding. The company's commitment to local employment, with 12 apprenticeships planned for 2026/27, and its strong return on investment for the council were also noted.