Graduate job vacancies 20% higher than pre-pandemic, reports Institute of Student Employers
The graduate jobs market has recovered with the number of vacancies now 20% higher than in 2019 before the Covid-19 pandemic, reports Institute of Student Employers (ISE).
Companies responding to ISE’s Vacancy Survey 2022 represent the UK’s largest graduate employers. They reported that job vacancies for graduates will increase by more than a fifth (22%) in 2022 compared to 2021.
Sectors with the biggest jobs growth this year are the built environment (48% growth), energy, engineering and industry (41% growth), and health and pharmaceuticals (37% growth).
The charity and public sector is the only industry to reduce the number of graduate jobs in 2022. However, even with the 11% reduction in vacancies this year, the sector is above pre-pandemic levels.
ISE’s Vacancy Survey shows the pandemic’s impact on the graduate labour market. For example, compared to 2019, graduate vacancies have risen by 67% in the built environment, 42% in digital and IT, and 24% in health and pharmaceuticals.
All sectors have returned to pre-pandemic levels of hiring with the exception of jobs in retail and FMCG. While this sector is currently recruiting 3% fewer graduates than in 2019, it has increased vacancies by 20% from 2021 to 2022.
Meanwhile, school leaver jobs in retail and FMCG have increased by 55% since last year.
Overall school and college leaver vacancies did not dip during the pandemic and have grown by 17% compared to 2021. As well as retail and FMCG experiencing strong growth, finance and professional services has grown by 37%, and the built environment sector by 30%.
There is evidence that recruitment has returned to a student-driven market. While competition for graduate jobs reached a record high in 2021, nearly half (48%) of graduate employers reported that they had received fewer applicants than this time last year. This is due to more graduate vacancies and difficulties engaging students with online careers events now they have returned to campus.
Nearly one in five employers (18%) noted that the quality of graduate applicants had dropped. They stress that to be successful, students need to focus on career planning and application readiness.
Stephen Isherwood, chief executive of ISE, said: “The number of graduate jobs has slowly increased but this is the first time we’ve seen hiring back to pre-pandemic levels. It demonstrates business confidence and how much employers continue to value a degree.
“This is great news for those job hunting. The hike in vacancies means a return to a student-driven market. However, with a significant number of employers noting a drop in the quality of applicants, students should be aware of resting on their laurels.
“The graduate labour market is and always has been competitive. While students should feel confident about their prospects, they need to apply themselves rigorously to their job search and make every application count.”
Six-year high for private equity-backed buyouts in the East Midlands
The value of private equity-backed deals in the East Midlands was at its highest level for six-years in 2021, according to provisional data from CMBOR, the Centre for Private Equity and MBO Research.
There were 13 deals in the East Midlands in the year with a combined value just shy of £1bn – at £989m, significantly up from the total value of £152m in 2020 and the highest since 2015 (which stood at £1.56bn and was dominated by one major deal).
Whilst the number of deals in the East Midlands was in line with the average for the past ten-years (13), the total value for the year was above the annual average of nearly £708m, according to the data in CMBOR’s first full-year announcement since its re-establishment within Nottingham University Business School with the support of Equistone Partners Europe.
Five deals were recorded in the first quarter of the year, four in the second quarter and two in each of the last two quarters of 2021.
In the neighbouring West Midlands, 16 deals were completed in the year with a combined value of £4.7bn which was in part driven by two landmark deals – Aggreko’s delisting from the London Stock Exchange following its £2.3bn acquisition by private equity firms TDR Capital and I Squared Capital, and Blackstone’s acquisition of warehouse and house builder St Modwen in a deal valued at nearly £1.7bn.
CMBOR’s year-end report also showed that private equity activity across the whole of the UK reached levels not seen since before the global financial crisis. At £45.8bn, the cumulative value of the 235 buyouts of UK-based companies in 2021 represented the biggest headline figure in the 35-year history of CMBOR, surpassed on an inflation-adjusted basis only by the £44.1bn recorded in 2007.
Will Copeland, from Equistone’s Midlands office, said: “With the exception of 2015, the deal value of buyouts in the East Midlands is the highest it has been for over 10 years. The region has built-on the resilience shown in the second half of 2020 and continued to be an attractive region for investment capital.
“Average deal value in the East Midlands rose significantly from £14m in 2020 to £76m in 2021, well above the average for the last ten years of £53m, with sector-focus predominately being in business services and technology companies,” said Copeland.
“For the year ahead, there are several interesting opportunities emerging in the Midlands, both from a platform investment and bolt-on investment perspective. There is some anticipation that the latter may arise from more distressed situations.
“Meanwhile, we will continue to focus not only on finding new investment opportunities but also realising value for our investors. I suspect we’re not the only general partner in this segment that has returned more capital to investors than we invested in 2021,” he said.
Across the UK, record levels of capital deployment were accompanied by strong exit activity, as private equity firms realised 124 investments in the UK at an aggregate value of £27.9bn – the largest such figures since 2018 and 2017, respectively. Floatations were a significant contributor, accounting for the largest single exit (Blackstone and CVC’s relisting of Paysafe via sale to a Special Purpose Acquisition Company) and reaching their highest volume since 2017 and cumulative value since 2015.
These seven UK listings, totalling £11.3bn, showed private equity firms also steering investee companies back towards public markets following a successful hold period.
Dr Kevin Amess, Associate Professor in Industrial Economics at Nottingham University Business School and Fellow of CMBOR, said: “We’ve seen an extremely buoyant UK buyout market in 2021, indicating that the industry has mounted a near full recovery from the impact of Covid.
“What is interesting is how part of that recovery has involved private equity taking an ever-greater role in funding high-growth companies in those sectors such as technology and healthcare that will be the fundamental building blocks of the UK economy post-pandemic.”
2022 Business Predictions: Natalie Bamford, Managing Director of Colleague Box
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Natalie Bamford, Managing Director of Derby-based personalised gift box business Colleague Box.
Following the lockdown in 2020, 2021 was the year that everyone got used to working from home.
This was a huge opportunity to enable firms to demonstrate to their workers that they were thinking of them.
For Colleague Box, as a business created during the pandemic specifically for delivering happiness to those working remotely or furloughed, we saw a huge increase in demand as organisations adjusted to the massive change. Businesses wanted to repay the faith which their employees had in them, and I think that we all became more empathetic as we tried to find that perfect work-life balance.
In 2022 – and with the Government once again advising people to, if they can, work from home – this looks set to continue. Companies are now more aware of the needs of their staff, more in-tune to their wellbeing and the loneliness which can come from working remotely.
We have seen Christmas parties cancelled and, as a result, Colleague Box HQ has had its busiest year to date in response to this; businesses still want to thank their employees for their continued hard work and a Colleague Box is the perfect way to do that.
Next year looks set to be another year of growth for Colleague Box and fellow online delivery services. I think we are all more in-tune now when it comes to wellbeing and that is reflected in the new range of products we are launching; our latest addition is a collaboration with Rebecca Smith of Derby-based Peachy Mind which aims to create a mindful experience for companies to purchase for their teams.
Rebecca, who is a qualified psychotherapist and mental wellbeing consultant, has pre-recorded workshops where she talks through the contents in each wellness box, explaining the meaning behind each item, creating a practical and enjoyable experience with notes to takeaway.
It will help with continuing the mindful journey as, in 2022, many more businesses and organisations take action on mental wellbeing in the workplace.
Insurance broker acquires Leicestershire firm
Aston Lark, the insurance broker currently backed by Goldman Sachs but soon to become part of Howden, has acquired Phoenix Healthcare (UK).
Phoenix Healthcare was established in 1996 in Oadby, Leicestershire and is a leading independent UK broker and adviser specialising in all aspects of corporate healthcare provision.
Peter Blanc, Aston Lark Group CEO, said: “When I first met Paul and Lee, it was clear that they share the same client service ethos as Aston Lark. We’re becoming a real powerhouse in Private Medical Insurance, and I’m delighted to welcome Paul, Lee and their team to the Aston Lark family.”
Paul Wright, founding director of Phoenix Healthcare, said: “Both Lee Shorter and I have over 35 years’ experience in the industry, and are delighted to choose Aston Lark as the long-term partner for our business. We firmly believe that they will be a great home for our staff and share our client-first approach to corporate healthcare broking.”
Lee Shorter, founding director of Phoenix Healthcare, added: “Becoming part of Aston Lark and having access to their resources and products will provide great opportunity for further helping our clients.”
Former department store purchased for new civic hub
Mansfield’s former Beales department store has been purchased to provide a new multi-agency civic hub as part of the Mansfield District Council’s long term town centre regeneration plans.
The scheme – “Mansfield Connect” – will be the new headquarters for the council and is expected to house a variety of other public, educational, enterprise and health and wellbeing services, alongside spaces for private sector occupiers such as food and drink outlets.
Mansfield District Council has taken the initiative and purchased the premises to enhance the bid to the Government’s Levelling Up Fund (LUF) to help re-invigorate the town centre.
Mansfield Connect will form a central part of the bid and would see the council relocating from the Civic Centre, with that site being made available for redevelopment.
To date, the Department for Work and Pensions, Nottinghamshire County Council, Vision West Nottinghamshire College, Nottingham Trent University, NHS health partners, and volunteering co-ordinator the CVS have all expressed interest in being involved in the new hub.
As well as improving the delivery of public services by providing a range of agencies accessible under one roof, it is envisaged that the new hub would generate extra footfall in the town centre which would benefit existing retailers and help drive regeneration, with the hub being a catalyst to stimulate private sector investment in both the day and night time economy in the town centre.
The scheme forms part of the council’s wider ambitions for the town, demonstrated by the emerging Town Centre Masterplan and broader Mansfield District Council strategies promoting Growth, Aspiration, Wellbeing and Place.
Executive Mayor Andy Abrahams said: “We believe repurposing this redundant retail space in Mansfield town centre fulfils all the ambitions of the Government’s Levelling Up Fund and by purchasing the building now, we believe this will strengthen the council’s bid.
“Consolidating public services in one town centre space makes so much sense, for both the delivery of those services to our community, and the wider economic benefits for the town centre. We are doing everything within our power to satisfy the requirements of the LUF bid criteria so we can move forward at pace when we are, hopefully, successful.
“Mansfield really needs this kind of ambitious re-imagining of its shopping streets to a mixed-use town centre if it is to build a bright future and encourage inward investment. This is a once-in-a-generation opportunity to transform our town’s fortunes and prospects for the better.”
The council can submit one MP-backed bid to the LUF either for an individual project or a package of measures, focusing on capital investment in local infrastructure and building on existing Local Growth Fund and Towns Fund supported programmes.
Under the first round of the LUF, local authorities could seek up to £20m of funding, with the support of the local MP, seeing funding targeted towards places with the most significant needs in terms of economic recovery, regeneration and growth and improved transport and connectivity.
Mansfield has been ranked at level one out of three by the Government, putting it amongst those areas with the greatest need.
The council has qualified for £125,000 in funding to help draw up its LUF bid and improve its chances of success in the anticipated next round of bids, an announcement about which is expected in the spring from the Department for Levelling Up Housing and Communities.
A Mansfield Connect Steering Group is guiding the project and the council has engaged project management specialists ARC Partnership to support its initial development, feasibility, costings and design options.
Additional support in building a business case for the scheme and for the LUF bid has been secured from Partnering Regeneration Development Ltd.
The work will see a close collaboration with consultants Allies & Morrison who are working with the council on the emerging Town Centre Masterplan and Severn Trent’s Green Recovery Flood Resilience Project.
Chartered Surveyors raise £30k in Top Gear style bangers & cash fundraiser
As part of their activities to commemorate their 30th company anniversary, and raise £30,000 for three local charities, Loughborough-based specialist land development and property consultancy, Mather Jamie organised a TopGear style event whereby five teams were challenged to buy a £500 ‘banger’ and drive to East Anglia.
The original plan was to drive to the Norfolk coast with an overnight stay in Kings Lynn, however these plans were scuppered by the petrol crisis in October 2021, and an alternative challenge involving Leicester landmarks was arranged – which also gave drivers the option to limp their Bangers home if they broke down!
This alternative event finally happened in late December, pushing the firm’s fundraising total to £36k – 120% over the original target.
Four teams took part, each driving a ‘banger of choice’. Gary Kirk and Gary Owens chose a 1997 Ford Fiesta, Tim Jones a 2003 Honda Civic, a 58 plate Nissan Micra was the vehicle of choice for Rob Cole and his son, Henry, whilst Alex Reid and Sam Woodhouse went more upmarket with a BMW tourer.
All bangers and passengers started at 8am from Farm Town and each team was required to visit as many of the defined touristy and historical locations as they could within the timeframe. All had to reconvene no later than 3.15pm at Prestwold Aerodrome ready for a ¼ mile drag race after sourcing and buying an antique for £50, which will later be auctioned off for charity.
Each location that the teams had to visit in no particular order had a points value, with a bonus 10 points awarded to any team that also reached the Triumph Factory in Hinckley. Other sites included; Belvoir Castle, Melton Mowbray, where each team had to take a photo with a pork pie, Donington Park Race Circuit, Foxton Locks, and Twycross Zoo. To deter speeding and to penalise poor driving and maintenance, penalty points were incurred for any breakdowns and car repairs.
Commenting on the event, Rob Cole, Mather Jamie Managing Director, said: “When we set out to raise £30,000 for Rainbows, Loros and One Roof Leicester we also hoped that the events we held would create opportunities for team members to lift the mood caused by Covid and have some fun whilst doing something to help those in need.
“We are delighted that our combined efforts have smashed our target and hope that by the time we finally present the cheque we will be able to exceed our target by at least another £10,000.”
The Honda Civic proved to be the victory vehicle driven by Tim Jones who managed to arrive at all six locations in first place.
Manufacturing upturn continues at end of 2021
The manufacturing sector saw further growth of production, new orders and employment at the end of 2021. Although a slight easing in supply chain delays helped lift output volumes and take some of the heat out of input price increases, logistic disruptions and staff shortages were nonetheless still stymieing the overall pace of expansion.
The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index® (PMI®) rose to 57.9 in December, littlechanged from November’s three-month high of 58.1. The PMI has remained above the neutral 50.0 mark for 19 months.
Output rose across the consumer, intermediate and investment goods sectors during December, with the overall pace of expansion improving to a four-month high. Increased
output was underpinned by rising intakes of new business, as domestic market conditions continued to strengthen.
The trend in new export business remained negative, however, as inflows of new work from overseas dropped for the fourth month in a row. This mainly reflected a steep decrease at consumer goods producers. In contrast, export demand for UK capital goods rose at the quickest pace since August. Manufacturers indicated that logistic issues, Brexit difficulties and the possibility of further COVID restrictions (at home and overseas) had all hit export demand at the end of the year.
Manufacturing employment increased for the twelfth successive month in December, with the rate of jobs growth staying close to November’s three-month high. Companies linked this to meeting improved demand, rising backlogs of work and efforts to address staff shortages. Capacity remained under strain, however. This was highlighted by a further increase in outstanding business, although the pace of expansion in work-in-hand volumes eased sharply to its lowest since February.
Companies maintained a positive outlook at the end of 2021. The majority of firms (63%) forecast that production would increase over the coming 12 months, compared to only 6%
anticipating a contraction. Optimism reflected expectations of renewed global economic growth, planned investment and hopes for less disruption caused by COVID-19, Brexit and
supply chain issues.
Inflationary pressures remained elevated in December. The rate of increase in factory gate selling prices accelerated to a fresh series-record high, as companies passed on (at least in
part) rising costs to their customers.
December saw a further substantial increase in average input prices, with the rate of inflation staying among the steepest seen in the survey history. There were reports of higher costs for chemicals, electronics, energy, food products, metals, timber and wood. Freight, shipping and air transportation costs were also higher, while ongoing supply disruptions, raw material shortages and issues relating to Brexit and COVID-19 also led to higher prices paid.
Commenting on the latest survey results, Rob Dobson, director at IHS Markit, said: “UK manufacturing production rose at the quickest pace in four months in December, supported by increased intakes of new work, efforts to reduce backlogs of work and higher employment.
“While the uptick in growth is a positive step, the upturn remains subdued compared to the middle of the year, as supply chain constraints and weak export performance constrained attempts to raise production further. Manufacturers indicated that logistic issues, Brexit difficulties and the possibility of further COVID restrictions (at home and overseas) had all hit export demand at the end of the year.
“Although supply chains remain severely stretched, there are at least signs that the situation is stabilising, with vendor delivery times lengthening to the weakest extent for a year in December. This helped take some of the heat out of input price increases, but cost inflation remained sufficiently steep to necessitate the sharpest rise in factory gate selling prices on record. With restrictions and Omicron cases both rising, the growth and inflation backdrops could change again in the early part of 2022.”
Duncan Brock, group director at the Chartered Institute of Procurement & Supply, said: “On the surface there wasn’t much of a change in the sector compared to last month but there was plenty to put manufacturers on edge about their prospects for the coming year.
“Purchasing by supply chain managers was at a four month high as businesses tried to beat another near-record inflation rate for raw materials and ordered ahead of time in the hope of defeating future setbacks. Delay fears remained as supplier deliveries remained under pressure albeit to the least severe extent since December 2020. On the plus side, optimism remained positive as manufacturers were buoyed up by the strongest pipelines of new work driven by UK customers and employment levels rose for the twelfth consecutive month to meet demand.
“We can’t lose sight of the fact that the UK economy took a significant hit and new variants and potential lockdowns threaten to impede much needed progress but at least the sector ended the last quarter of 2021 on a surer footing.”
Senior partner steps down after four decades at law firm
Following a 43 year career at Sills & Betteridge, distinguished solicitor Stephen Wilson retired as the firm’s senior partner on 31 December 2021. His position was taken over by Karen Bower-Brown, the first woman to become senior partner in the 260 year history of the firm. Lincoln born Stephen joined Sills & Betteridge as an articled clerk in February 1979. He qualified as solicitor in 1981 and became partner in 1985. Stephen spent the first 10 years of his career handling a mixed case load of work before dedicating all of his time to litigation, ultimately specialising in complex personal injury and clinical negligence matters, until he retired. Notable achievements in Stephen’s career include his appointments as Deputy District Judge and President of Lincolnshire Law Society and being admitted as a Fellow of the Association of Personal Injury Lawyers. Stephen said: “I have been lucky to have such an interesting and varied legal career, all of which I spent at Sills & Betteridge. My greatest satisfaction has been recovering compensation for my clients, some of whom had suffered catastrophic injuries or the devastating loss of loved ones. It also gives me huge pride to know that I have helped drive the growth of the firm, from a small local practice when I joined, to the large, thriving regional firm it is today.” Having spent 30 years dominated by court deadlines, Stephen looks forward, initially, to a long rest. He will then spend time walking in his beloved Yorkshire Dales and exploring other beautiful areas of the British Isles, improving his golf handicap and spending time in the garden. He will also be found working behind the bar of his local village social club! Stephen’s successor Karen Bower-Brown, current head of the firm’s commercial department, joined the firm in 1999 following a position at a London firm located near Green Park where part of her remit was to advise staff in the Royal household. Karen now specialises in litigation work including commercial, contract and property disputes, as well as contentious trust and probate work for which she is a recognised specialist. Karen says: “I feel very proud to have been asked by the partners to take on the role of senior partner following Stephen Wilson’s retirement. The firm has gone from strength to strength since I joined as an assistant solicitor in 1999 when there was one office in Lincoln. “Now we have 15 offices in Lincolnshire, South Yorkshire, Nottingham and Northampton. Although Covid has proved to be a challenge for the firm, we have weathered the storm extremely well and I have no doubt that the firm as a whole has a bright future. I take the opportunity to thank Stephen Wilson for his contribution to the firm over the last 43 years including as senior partner. I wish him all the very best for the future.”
Duo of office sales sealed at Leicester’s Forest Business Park
FHP, acting on behalf of retained clients, have sold two office opportunities on Oswin Road, Forest Business Park just west of Leicester City Centre.
Both properties provide self-contained purpose-built office accommodation of just under 1,750ft² each, boasting ample car parking facilities to the front and within easy reach of J21A of the M1 Motorway.
Thomas Szymkiw, of FHP’s Office Department, who agreed both deals, said: “Small, freehold office opportunities in Leicester are scarce, so when I was instructed to sell both buildings I knew that interest would be high – receiving several strong offers within a very short marketing timeframe.
“I am pleased that I have been able to assist both purchasers with their expansion plans and happy in the knowledge that they have been able to acquire two fantastic office buildings in one of the city’s most established commercial locations.”
Partner promotion for private client specialist
East Midlands law firm Bray & Bray has promoted experienced private client solicitor Russell Dalby to partner and joint head of the firm’s Wills, Trusts and Probate department.
In his new role, Russell will co-manage a team of eight Wills, Trusts and Probate specialists.
A full member of the Society of Trust & Estate Practitioners (STEP), Russell will also act as a reference point on technical matters such as Inheritance Tax positions. Alongside co-head Andrew Hitchon, Russell will also be responsible for training and mentoring the team.
Commenting on his new role, Russell said: “I feel very passionately about coaching and mentoring team members to ensure they are continually cultivating their knowledge and skills.
“Andrew and I have already begun developing some in-house scenario training for the team, which complements our traditional focus of attending specialist seminars throughout the year. Keeping at the cutting edge of the latest legal developments will continue to be a core focus for us as we head into 2022.
“As partner, I look forward to expanding the profile of the team and nurturing relationships with existing and new clients. Bray & Bray has a reputation for listening closely to clients and truly understanding their needs, particularly during these challenging times, and this is something I am committed to preserving.”
Prior to joining Bray & Bray, Russell worked as a senior bank manager before retraining in law in 2010. He achieved the highest grade in the Legal Practice Course, before choosing to specialise in Wills, Trusts and Probate.
Tim Gladdle, senior partner and head of Corporate & Commercial Law at Bray & Bray, added: “Russell’s well-deserved promotion is in recognition of the significant role and contribution he has made to the firm’s ongoing growth, as well as his consistent hard work and steadfast dedication to the Wills, Trusts and Probate team and private clients.
“Bray & Bray remains committed to investing in our people and supporting their ambition and professional growth. I look forward to seeing Russell continue to excel in his new role.”
Nottingham City Centre office building sold
8 Clinton Terrace, on Derby Road, just north of Nottingham City Centre, has been sold in a deal brokered by FHP Property Consultants to Clinton View Ltd.
The property which extends to just under 3,000ft2, provides modern office accommodation over three floors with substantial car parking to the rear.
Thomas Szymkiw, of FHP’s Office Department who agreed the sale, said: “8 Clinton Terrace is a great building, in a fantastic location bordering the desirable Park Estate and in an area that has seen some fantastic developments in recent years including both private and student residential schemes.
“The property provided a perfect opportunity for either an office owner occupier or developer and we had high interest in the property on both fronts – resulting in a competitive bidding process that ended up with a fantastic result for our clients.
“The purchaser is looking to undertake substantial redevelopment of the building for residential use and I am very excited to see how their ambitious plans evolve over the coming months.”
Intoware appoints business development specialist for future growth
Nottingham-based digital workflow leader Intoware, has appointed Nicholas Hope to the role of business development specialist. Nicholas joins from Artex Ltd, part of the Saint-Gobain Group, where he was a national account manager for the UK’s leading DIY retailers.
Nicholas Hope will be responsible for driving market growth and future strategy by bringing Intoware’s automation platform WorkfloPlus to enterprises.
Prior to his role at Artex Ltd, Nicholas was a commercial account manager for firestone distributor, Permaroof UK Ltd, where he led its cross-functional teams through product life-cycle development and strategic planning for new products, gaining the top five customers in target industries within two years.
Intoware’s CEO, Keith Tilley, says: “We are delighted that Nicholas Hope has joined us at this time of tremendous growth. Nicholas is a well-regarded sales leader and a highly motivated individual with proven experience driving strategic sales and marketing initiatives to generate revenue by opening up entirely new and emerging markets.”
Nicholas Hope, business development specialist, Intoware, said: “I’ve always had a keen interest in new technologies, Intoware is at the very forefront of the industry 4.0 revolution, not only does WorkfloPlus deliver paperless working, but when combined with AI and assisted reality it transforms the efficiency of processes by capturing ‘real-time’ data to drive more meaningful decision-making.”
Nicholas enjoyed entrepreneurial success at 13 years old, when he founded e-commerce business, Blue Orchard Records. He digitally remastered cassettes onto CD and vinyl, creating campaigns that trebled the value of the business in three years to £83,000.
Having later graduated from Nottingham Trent University in 2013 with a BA in Business Management and Marketing, Nicholas decided to pursue his business development career locally.
Mattioli Woods achieves “key milestone”
Mattioli Woods, the specialist wealth management and asset management business, has achieved a “key milestone” and strong revenue growth, according to a trading update in advance of its interim results for the six months ended 30 November 2021.
Total client assets of the group and its associate reached £15.1 billion at the period end, an increase of 42% on the equivalent prior period.
The business meanwhile saw total revenues rise to £49.9m from £29.5m.
Ian Mattioli MBE, Chief Executive, says: “The first six months of this financial year saw us build momentum despite the complexities, economically and politically, that persisted throughout 2021. During the period, we proactively balanced securing good financial outcomes for our clients with ensuring the long-term sustainability of our business, and I am pleased to report further material progress towards our strategic medium-term goals, with total client assets now at £15.1 billion.
“We saw strong performances in our pensions and consultancy, and investment and asset management operating segments with the number of new clients on-boarded in the first half and net inflows into the Group’s investment and asset management services ahead of the equivalent period last year, reflecting the success of new business initiatives and strength of existing client referrals, with organic revenue growth in excess of 10 per cent. for the period. These initiatives are also driving an increasing pipeline of new business enquiries.
“Our discretionary managed funds continue to perform well and represent a combined value of £5.1 billion, an increase of c.55% on the equivalent prior period, including more than £1.3 billion with the Group’s associate, Amati Global Investors, an increase of c.75% on the prior period.
“Recent acquisitions and double digit organic revenue growth have driven a material increase in scale during the period, with the Group’s profit margins maintained through prudent cost management and investment to realise further operational efficiencies.
“During the period we were pleased to announce the completion of our two largest acquisitions to date, Maven Capital Partners (Maven) and Ludlow Wealth Management (Ludlow). Both businesses are trading ahead of budget and have contributed positively to the Group’s results, building upon our track record of more than 30 successful acquisitions.
“Within Maven we are progressing a number of cross-sell revenue synergy opportunities that are already being shared with qualifying Mattioli Woods and Maven clients, and plan to bring further new opportunities in the near future. Maven has also delivered a number of performance fees ahead of budget further supporting the acquisition rationale. Our Ludlow team is already engaging with our discretionary managed investment services, as well as delivering planned cost synergies.
“We anticipate further consolidation within the wealth management, pensions administration, asset management and financial planning sectors, with many more opportunities coming to market. We expect to continue to assess and progress bolt-on opportunities in the nearer term as well as potentially more substantial opportunities in the longer term, with all potential transactions required to meet our strict investment criteria and due diligence procedures.
“We remain committed to our culture of putting clients first and to delivering our ambitious growth plans for the business. We are progressing our strategic initiatives, including the development of our bespoke MWeb platform and digital client interface, where we anticipate additional medium term investment in the region of £2-4m per annum.
“The Group’s trading outlook for the current financial year remains in line with management’s expectations and Mattioli Woods remains well-positioned to deliver sustainable shareholder returns.”
2022 Business Predictions: Ian Taylor, MD of Henry Brothers Midlands
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Ian Taylor, Managing Director of construction company Henry Brothers Midlands.
The construction sector will be extremely busy in 2022 with the roll out of a large number of frameworks and infrastructure projects worth billions of pounds nationally. There’s the £3.7bn New Hospital Programme, the £7bn Department for Education Construction Framework, schemes for the Ministry of Justice and the Defence Infrastructure Organisation, plus the Government’s levelling up agenda to name just a few of the opportunities that are in the pipeline. Although we will have to wait to see if the levelling up delivers for the East Midlands in the way we were all hoping!
This huge programme of work will bring greater strain on the demand for materials and labour, leading to a knock-on effect on pricing. Supply chain issues during 2021 led to volatility and this will continue in 2022 as demand increases for the delivery of construction projects and we see inflationary pressures. To avoid pricing volatility, I expect that many clients will procure their developments through frameworks, which have a reduced procurement time over the traditional tender route, and allow projects to get to site more quickly. I also expect that clients and contractors will start working together on schemes as early as possible in the process – working smarter to avoid some of the uncertainties that are likely to arise in 2022.
Finally, I predict that there will be an increasing requirement to provide carbon neutral projects. We saw this grow in 2021 and the direction of travel is only one way. In time, all projects will need to show a carbon neutral performance.
Indie video game label makes duo of acquisitions
Team17, which has offices in Nottingham, Manchester, and Wakefield, has kicked of 2022 by revealing two acquisitions.
The indie video game label has acquired The Label, a USA-based independent publisher specialising in mobile subscription games content for an initial consideration of $24 million (£17.76 million) with additional earn out consideration of up to a maximum of $16 million (£11.84 million) over the next three years.
The total consideration of up to $40 million (£29.6 million) will be paid through a combination of cash and shares, which are subject to a 12 month lock-in period.
Michael Pattison, CEO of Team17 Games Label, said: “We are absolutely thrilled to be joining forces with The Label’s entrepreneurial team, who are true pioneers in the delivery of quality mobile subscription games and technology. We are excited to tap into their unrivalled market and gaming experience to further take advantage of this growing market.
“The Label is a fantastic addition to the Team17 family, creating an indie game powerhouse across PC, console and mobile platforms. We look forward to helping them build on their impressive track record of success, further enabling them to scale even greater heights in support of our ambitious growth aspirations.”
Joshua Babich, general manager and Vice President, said: “It’s an honour to join the world’s leading independent games publisher. Team17 has been a pillar of excellence for over three decades for gamers and creators, bringing some of the most imaginative and unique titles to life. With their support the sky’s the limit and our partners can feel confident our combined leverage will accelerate success for all.
“Joining the Team17 family opens up unprecedented doors for us all. While we’ve carved out a strong foothold in the mobile subscription space, this allows us to instantly expand our market reach in ways that just wouldn’t have been possible before. We are delighted to be part of a Group that puts games development and creativity first!”
Team17 has also announced the acquisition of all rights and assets of Hell Let Loose (HLL), an existing 3rd party title to its 1st party family for an initial consideration of £31 million plus a contingent earn out consideration of up to a maximum of £15 million.
HLL is a multiplayer tactical first-person shooter video game which has over six million owners. HLL was created by developer Black Matter and is co-developed and published across multiple platforms by Team17.
Michael Pattison, CEO at Team17 Games Label, said: “We are delighted to be announcing the acquisition of the Hell Let Loose IP. Hell Let Loose has quickly become a highly credible and innovative multiplayer tactical first-person shooter supported by a very passionate and highly engaged community with over six million players.
“Having built a close and extremely productive relationship with Black Matter already, we believe that by bringing Hell Let Loose into the Team17 stable, we can serve and build upon the needs of an ever-growing community, improve and expand upon the existing player experience and develop new ways to entertain and delight. We firmly believe Hell Let Loose can become the definitive large-scale team-based military simulation.
“This acquisition represents an important next step in our strategy to expand our ownership of IP that is not only of the highest quality, but importantly has long-term growth potential.”
Max Rea, founder & CEO of Black Matter, said: “This is a wonderful opportunity for our fans and a logical next step-up in the development of Hell Let Loose as a brand. Team17 love our brand and community as we do, which has expanded across multiple platforms successfully.
“We’ve worked very closely with our good friends at Team17 over the last several years and firmly believe that this acquisition is the next logical step to enable us to further deliver great content to the highly passionate HLL community, as well as find new ways to engage and entertain in the future.
“We are really excited to continue to work with Team17 on the next stage of growth for Hell Let Loose.”
The news comes as the company provides a trading update for the twelve months ended 31 December 2021 (FY 2021) in which it has “continued to trade above Management’s expectations across H2 2021 completing a solid performance in 2021. As a result, revenue and adjusted EBITDA for FY 2021 will be ahead of Management’s expectations and ahead of FY 2020.”
Debbie Bestwick MBE, CEO of Team17, said: “We are pleased with the 2021 performance, in which we continued to execute on our highly ambitious pipeline alongside completing the acquisition of StoryToys. Bringing StoryToys into the Team17 family sees us align our growth ambitions with their hugely talented team and is a clear marker for our future growth strategy.
“In addition, we are delighted with the acquisitions announced this morning. These further support our content and people growth plans. We look forward to working with them as part of our growing Team17 Group in 2022.”
M-EC appointed to trio of local authority projects
M-EC, a firm of technical development consultants, has been appointed to provide expert advice on a trio of local authority infrastructure projects in Leicestershire. The projects involve three of the company’s specialist departments.
The firm has been engaged by North West Leicestershire District Council (NWLDC) and Leicestershire County Council (LCC) to carry out a range of surveys and impact assessments for projects taking place in Coalville and Ashby de-la-Zouch.
In Coalville, M-EC is working with NWLDC and other specialists on the £1.5m Marlborough Square to ensure the success of the redevelopment project in the heart of the historic market town. The redesigned square is intended to provide a more attractive, pedestrian friendly public space suitable for families and for events and markets. The regeneration will complement the adjacent newly refurbished Coalville indoor market.
The new designs for the square necessitate the redirection of traffic around the town centre. M-EC’s specialist transport team has provided pre-planning highway and transport support for the project. The team has also created a road sign and lining design scheme in support of a future Section 278 application to undertake the works within the public highway.
Also in Coalville, M-EC have been working on a residential scheme on Highfield Street on behalf of NWLDC and LCC. M-EC’s GI, Geomatics, Civils, Structures and Lighting teams have all been involved in this project in order to progress on site construction and technical approvals from the relevant statutory authorities.
Working with Ashby-de-la-Zouch Town Council, M-EC’s Acoustic Air team has been commissioned to undertake Air Quality Monitoring to review the level of road traffic emissions within the Town. Continuous 12-month monitoring of Nitrogen Dioxide has been undertaken and the findings of this will be reported back to the Town Council.
Tim Rose, director at M-EC, says: “As Leicestershire headquartered, we are pleased to be working closely with several local authorities across the county on projects which will improve the lives of Leicestershire residents.
“The Marlborough Square development in Coalville in particular has been long awaited and the improvements to the town centre will have a positive impact on the local economy, encouraging further investment in the area and reducing pollution levels.”
East Midlands Chamber’s Enterprising Women co-chair Jean Mountain wins top award
The co-founder of East Midlands Chamber’s Enterprising Women network has been recognised for her career achievements with a major award.
Jean Mountain was named the Businesswoman of the Year at the Nottinghamshire Live Women in Business Awards today (5 January).
She was commended for “fighting tooth and nail to break the glass ceiling” for other professional women via her work with the group, which celebrates its 25th anniversary this year.
Jean, who owns The Dressing Room boutique ladies’ clothes shop in Mansfield Woodhouse, said: “I am absolutely delighted to have won the Businesswoman of the Year award 2021 – it’s such a huge honour.
“I’ve dedicated my entire working life to being focused on collaborative networking with businesses especially in my home county, Nottinghamshire.
“As co-founder of the East Midlands Chamber Enterprising Women network, I truly believe in holding out a hand to the next person by helping each other to learn, grow and succeed.
“As I diversify through my businesses and grow my high street boutique, I’m proud to be recognised with this prestigious award.”
Jean has a long history of entrepreneurship over three decades after completing a business studies course at West Nottinghamshire College in the 1980s. She was aged 23 when she was first tasked with running a factory for The Supreme Rubber Stamp Company, based in Huthwaite, before going on to set up an accessories busines, become a silent partner for numerous companies and a director at a national print management firm.
Alongside her commercial activities, she has been heavily involved in the region’s business community. Initially joining the former Nottinghamshire Chamber of Commerce board of directors, she went on to become president of East Midlands Chamber in 2015/16 and chair of the Chamber’s Nottinghamshire members’ forum.
Another role as chair of the East Midlands Business Crime Forum led to her becoming vice-president of the National Business Crime Forum, setting up an all-party parliamentary group lobbying for better security to stop business crime.
But it has been via the Enterprising Women network that Jean has had a profound impact on other professional women working across the East Midlands since it was set up in 1997.
She runs it alongside Eileen Richards MBE, the owner of Leicester-based ER Recruitment, and has grown it to a membership base of more than 500 people. It features regular networking events with guest speakers and an annual Enterprising Women Awards, which will be launched again this spring.
Eileen, who was East Midlands Chamber president until last month and remains a board member, said: “On behalf of the Enterprising Women network, I am absolutely delighted that Jean has been awarded with the Nottinghamshire Live Businesswoman of the Year accolade.
“Jean is a truly entrepreneurial spirit who manages businesses across a variety of sectors, and is an influential leader to both her employees and all of us who are part of the network.
“This award will mean the world to her and I know everyone in the network will agree just how much it is deserved.”
Proposals to transform Travelodge into student flats granted conditional permission
A proposal to convert the Travelodge Hotel on Maid Marian Way, in Nottingham, into student accommodation has been granted conditional permission by the city council.
The plan would see the ten-storey hotel become 121 studio apartments.
A design statement submitted on behalf of the applicant says: “The building is currently looking tired, with a light grey aluminium trim to the concrete frame, in need of repair, dark blue spandrel panels at first floor podium level, that change to off white in the tower levels above.
“We will celebrate the 1970s character of the building, retaining the language of expressed structure and infill curtain walling.”
It continues: “By increasing the number of dwellings and therefore the number of residents in the local vicinity, the proposed development of this site will help to support the existing businesses and facilities thus ensuring their long term success, and the sustainability of this urban centre.”
Derby mixed use scheme sold in £1.7m deal
BB&J Commercial have completed the sale of a large multi-let mixed use scheme of over 30 flats occupied by both professionals and students together with a pay and display carpark in Derby City Centre.
Located on Stafford Street close to the junction with Friar Gate and Ashbourne Road, the property was marketed at a price in excess of £1.7 million being reflective of the valuable income stream, and the sale of the freehold investment attracted a large amount of interest around the asking price.
BB&J Commercial partner, Mark Richardson, acted for the seller and said: “Whilst the commercial property market may seem low on stock, demand for good quality investments remains strong. This was a large property primarily used for housing provision and is a good example of more investors considering this sector as a viable investment on a larger scale.”
Looking at the wider property picture, Mark continued: “It fits in with the strong appetite for investment sales, which in 2021 exceeded an incredible £50 billion nationally. It’s also worth noting that this type of investment within the city centre is yet another example of Derby being seen as a city of both sustainability and growth.
“Alongside investment and construction schemes such as the nearby Becketwell redevelopment, Nightingale Quarter and those in areas such as Agard Street it is one more piece of the property jigsaw being put together to ensure the vibrant future of Derby.”
Administrators appointed to digital payments firm
James Bennett and Ed Boyle from Interpath Advisory have been appointed joint special administrators to Chesterfield-based Viola Money (Europe) Limited.
Viola Money (Europe) Ltd is an electronic money institution focused on digital payments, offering e-wallet accounts, prepaid cards and money transfers to individuals.
On 21 December 2021, a special administration order was made by the Court in relation to Viola under the Payment and Electronic Money Institution Insolvency Regulations 2021.
The application to the Court for the special administration was made by the FCA and follows requirements imposed on Viola by the FCA on 14 December 2021, which required it to cease all regulated electronic money and payment services and not to deal with any of its client funds. This is the first special administration order made under these regulations.
The special administration process includes provisions to facilitate the return of customer monies by the administrators. The joint special administrators will carry out an assessment of all the customer funds held by the firm to confirm the current position.
James Bennett, Managing Director at Interpath Advisory and joint special administrator, said: “Our immediate priority is to gather in the assets of the Company, and those it safeguarded on behalf of its customers. We will also seek to reconcile the accounts of the Company before distributing the safeguarded funds as quickly as possible.”
