APPEX programme to help Advanced Manufacturers reach new heights
The Business Gateway is demonstrating its support for Leicestershire’s key sectors by creating a programme for innovative Advanced Manufacturing companies.
Called APPEX, the course will help participating companies achieve Advanced Manufacturing Product and Process Excellence to help boost turnover.
The programme is worth at least £5,000 but will be free of charge to the ten businesses that qualify to take part.
APPEX helps businesses get a detailed understanding of their business capabilities, leadership team priorities and how to select, plan and execute a focussed improvement project with external support. It also gives them the chance to see and learn best practices from other non-competing Advanced Manufacturers on the programme.
APPEX is available to manufacturers in several growing and innovative sectors including aerospace, pharmaceuticals, medical, transportation, construction equipment, low carbon, and power generation among others.
To qualify to take part, companies need to have been trading for more than three years, have more than 50 employees, have an annual turnover of more than £4m and have a functional leadership team structure. They should also be manufacturing a product that is new to market or using innovative manufacturing processes.
Dr Chris Owen, MD of Owen & Partners Ltd, who will be delivering the programme, said: “We’ve put together a really practical programme of support for Leicestershire’s Advanced Manufacturers.
“Companies will learn how to select and drive focussed improvement projects to boost their competitive positioning and productivity and win more orders. As part of the very first cohort of its kind, participating leaders will also become pioneers in building a community of innovative advanced manufacturing leaders to further boost the sector in Leicestershire.”
Rachel York, Business Gateway manager, added: “We’re delighted to be able to offer such high-quality support to Leicestershire’s Advanced Manufacturing sector, particularly the companies who are embracing innovation because that’s an essential element for growth. Hopefully the companies that participate will spread the word across the sector and we will see more companies taking up our offer.”
Any company that meets the criteria should contact a Business Adviser on 0116 366 8487 to discuss applying for the programme.
Plans revealed for new business park in Leicestershire
Brackley Property Developments (BPD) has revealed plans to develop a new business park in Leicestershire.
The commercial developer has submitted a reserved matters application to Harborough District Council for the first phase of development at Elm Business Park in Broughton Astley.
The scheme proposes the development of industrial and warehouse units ranging in size from approximately 8,000 – 50,000 sq ft on a 17-acre site adjacent to Broughton Astley Golf Complex.
Units will be available on a design and build basis, which will provide occupiers with the opportunity to tailor the size and specification to their requirements. The largest building which can be accommodated is c.120,000 sq ft, subject to layout.
Elm Business Park lies on a prominent site off the B4114 Coventry Road, within six miles of the M1/M69 interchange. Outline planning consent was granted in December 2020 for a mix of uses including industrial, office, retail and leisure.
Stephen Pedrick-Moyle, Managing Director of BPD, said: “We are expecting planning approval for phase one towards the end of the year but we are already engaging with occupiers to discuss potential requirements for the site. This is with a view to starting construction during the first quarter of 2022.”
Approval for 275-bed student scheme at Argos site
Plans for a new student accommodation scheme and commercial space at Lombard House in Nottingham have been approved by the city council.
The site, at 37-41 Lower Parliament Street, is currently occupied by Argos.
Bmor Ltd are behind the 275-bed student accommodation development which would provide a mix of clusters and studios, including 23 studios which are included in the existing Argos building.
The proposals involve the demolition of the warehouse section of the Argos for a new development. The scheme would be up to 10 storeys.
Acquisitive firm snaps up majority stake in Notts furniture company
Storskogen, the Swedish firm which acquires and manages well-managed and profitable small and medium-sized enterprises, has snapped up a qualified majority stake in Julian Bowen Ltd.
Julian Bowen is a Nottinghamshire-based e-commerce design and fulfilment specialist for home furniture, with annual revenue and EBIT of approximately £34.9m and £6.9m, respectively. Julian Bowen is Storskogen’s second acquisition in the UK and represents a major milestone in the group’s international expansion.
Established in 1987, online retailers now comprise about 70 per cent of Julian Bowen’s sales, while the company offers a flexible fulfilment model to suit its wide range of customers that includes e-commerce, traditional bricks and mortar retailers, and contract furniture providers.
Amazon, Wayfair, Dunelm and DFS can be found among Julian Bowens customer base. Julian Bowen has also amassed a wide range of international suppliers.
Julian Bowen has a workforce of around 100 employees, while Managing Director Emmett Lenaghan and buying director Mark Pickup will remain in their existing senior roles within the company.
“We are delighted that Storskogen have chosen to partner with us. Their support and expertise will be highly beneficial as we continue to deliver our ambitious plans for the company,” said Emmett Lenaghan, Managing Director of Julian Bowen.
Julian Bowen will join the business area Trade headed by Christer Hansson.
“Throughout our discussions, we have been immensely impressed with Julian Bowen, in particular their extensive e-commerce operations and capacity to innovate in partnership with customers and suppliers. Julian Bowen is an ideal partner for Storskogen, and we will continue to support the expansion of their flexible and dynamic customer offering,” said Christer Hansson, EVP and Head of Business Area, Trade.
Storskogen UK CEO Philip Lofgren believes the UK has an integral role to play in Storskogen’s international expansion plans, and Julian Bowen represents another step towards realising these objectives.
“Julian Bowen represents our second investment in the UK following our acquisition of SGS Engineering in Q2 2021. Like SGS, Julian Bowen is exceptionally well positioned to benefit from the ongoing migration from bricks and mortar towards digital retail channels.
“We have extensive expertise in the B2B and B2C e-commerce space and are excited to partner with the existing Julian Bowen management team to develop these capabilities further,” said Philip Lofgren, CEO of Storskogen UK.
National lighting and security provider expands into Derby
National lighting and security providers, QVIS, have taken occupation of Unit 11 Dunstall Park.
The business has moved into the 4,500 sq ft unit on a new 10 year lease as part of their planned UK wide expansion.
Dunstall Park is a new development of workshop and warehouse units being undertaken by Derby-based Ivygrove Developments. The 7-acre scheme will provide units from 2,000 sq ft to 6,000 sq ft.
Matthew Holliday, UK project manager, QVIS, said: “We are delighted to be opening our 6th Technology Showroom in the fantastic City of Derby. This continues our rapid growth and we hope to open 14 more technology centres within the next 24 months and are glad to be creating new jobs in each of the areas plus providing the Security Trade with State-of-the-Art Technology, advice and training inside our Showrooms.”
Chris Keogh, associate director, Salloway Property Consultants, said: “The addition of QVIS to the Dunstall Park development fits perfectly within the scheme which will eventually comprise a mixture of Trade Counter and Industrial occupiers once completed. We are now releasing the final two phases of the development where units are available on a freehold or leasehold basis with sizes ranging from 2,000 sq ft up to 5,700 sq ft.”
Take advantage of face to face networking at the East Midlands Property & Business Expo
After almost two years of no exhibitions, the East Midlands Property & Business Expo, for which Business Link is a proud partner, will return on Friday 12 November 2021.
Taking place at the De Vere East Midlands Conference Centre, Nottingham, delegates can pre-register for free entry to the event, which has everything you need for a great day of networking and business generation.
An established event of over 20 years, the show is well targeted and aimed at the construction, property, business, investment, finance, professional services and related B2B markets.
The exhibition will open to attendees at 9am, with a seminar taking place between 10:30am and noon. A special networking lunch (for which tickets can be purchased here) will then take place between 12:15pm and 2:15pm, and the exhibition will close at 3:30pm.
For more information on exhibiting at the event click here.
To register to attend the event for free click here.
To secure tickets for the networking lunch click here.
Exhibitors include A+G Architects, Allica Bank, Aspbury Planning, Bassetlaw District Council, Bowmer + Kirkland, BSP Consulting, Business Link Magazine, Delta Simons, East Midlands Chamber, Empire Finance, Galliford Try, Invest East Midlands, Invest Newark & Sherwood, J Tomlinson, Lindum, Nottingham Trent University, Pick Everard, Pygott & Crone, Rigby & Co, Severn Trent, Stepnell, Wildgoose, YMD Boon, and more.
Supply chain issues and rising costs drive profit warnings of listed Midlands firms back to pre-pandemic levels
The number of profit warnings issued by UK listed businesses based in the Midlands rose marginally in the third quarter of the year, to six (from five in Q2).
Nationally, profit warnings rose to 51 in the third quarter of the year, up 19 from Q2 2021, as threats to growth and profitability increased, according to EY-Parthenon’s latest Profit Warnings report.
The report reveals that whilst a post-pandemic demand surge boosted sales for many businesses over the summer months, it has also exposed vulnerabilities in supply chains and energy and labour markets, with 43% citing these pressures as the reason for their profits warning.
Most warnings in the region came from Industrial FTSE sectors and a third (33%) of Midlands-based companies issuing a warning said that supply chain issues were hampering their business.
Midlands listed business issued the joint second highest number of profit warnings, along with the South East (6) although significantly behind London (27).
Nearly two-fifths (39%) of UK companies warning were also affected by the fallout of COVID-19 – down from 72% in the previous quarter. Whilst the direct impact of the pandemic is waning, the increase in supply and cost pressures, and the end of government furlough support, will add to the challenge – especially for sectors where demand hasn’t yet returned to pre-COVID-19 levels.
Businesses with annual turnover of under £100m issued 50% of the third quarter’s profit warnings and almost 60% of the warnings were from AIM listed companies, typically small to mid-market companies which are less resilient to economic headwinds. New headwinds, including the impact of the steep rise in energy costs on a wide range of sectors, has also led to a high proportion of new companies warning for the first time.
Dan Hurd, EY Parthenon UK&I Turnaround and Restructuring Leader in the Midlands, said: “Whilst it’s encouraging that profit warnings among Midlands-based businesses remain low, evidence from the last few years has shown a trend for warnings to dip during Q3.
“The last two years has been anything but normal trading for businesses and there is nothing straightforward about this recovery. Whilst UK profit warning levels remained low during the summer they jumped dramatically back to above-average levels in September, as supply chain and cost stresses cascaded through the economy.
“Over the last 18 months, government support has mitigated the impact of massive changes in the UK economy. These measures have now come to an end and the remainder of the year will reveal those surviving on life support, as the government removes most, but not all of its props.”
Supply challenges dominate
The report revealed that profit warnings are rising in consumer-facing sectors as the impact of rising energy prices, supply bottlenecks and labour shortages spread across the economy. Consumer Discretionary FTSE sectors issued the most warnings in Q3 2021 with 11, followed by Industrials with 10.
The Consumer Staples sector – including food, drink, and household product producers – issued six warnings, its highest level of third-quarter profit warnings since 2014, with all but one of these six warnings blaming increasing costs or supply chain issues.
Meanwhile, supply chain issues remain acute in many FTSE Industrial sectors compounded by delayed or cancelled contracts, as companies suspended or limit production in response to the direct or knock-on impacts of rising costs or the lack of goods and labour.
Rising energy prices have also generated considerable stress in the retail energy supply sector, with EY expecting the number of UK suppliers to consolidate to 8-10, from 70 at the start of 2021. There is also a wider challenge in the transition to Net Zero that is also playing out in this and other sectors – including oilfield services and automotive – as companies move away from carbon intensive activities.
Dan Hurd said: “As this recovery develops, we expect the gaps to widen between and within sectors, depending on companies pricing power, their agility and capacity to adapt and capitalise on changing behaviours, and their ability to build a sustainable long-term value story.”
A sustainable recovery?
The research also explores how the trade-off between value and values is narrowing. Changing consumer behaviours, regulation and Environmental, Social and Governance (ESG) measurements are now all moving into the capital markets mainstream and companies will increasingly need to demonstrate their commitment to creating long-term value.
Adding to the challenge for companies is the lack of standardisation and regulation of ESG measurements. But, with the growth in green indices, green bonds, green investment funds and increasing fund manager differentiation, EY anticipates more consistent standards and scrutiny to emerge.
This could effectively lead to companies issuing ‘purpose warnings’ in the future – for instance, if companies miss targets and their price of debt increases, or they miss out on contracts as a result.
Joanne Robinson, EY-Parthenon Partner, Turnaround and Restructuring Strategy, said: “Just as we’re seeing increased investor reaction to profit warnings in the wake of greater economic peril, we’re also seeing investors react to greater climate peril. There’s no doubt that companies face a potentially difficult transition period where they’ll need to manage and time new investments, whilst also maintaining some legacy businesses.”
She added: “Companies need to strengthen their social licence to attract new customers and talent. The sustainability challenge will provide the impetus to innovate new products, services and business models that will be more valuable and resilient in the long-term. But the journey – as we can see in the UK energy market – won’t be easy.”
Siemens virtual work experience breaks down barriers to STEM careers for East Midlands students
Students across the East Midlands are among hundreds to enroll to a virtual work experience programme launched by Siemens during the pandemic.
The free programme, which combines live webinars, videos, and activities, has seen 1,164 young people log-in and learn about how engineering and technology builds a more sustainable future.
This includes young people living in Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, and Nottinghamshire.*
Now a third round of virtual work experience to run from October 26 to November 5 will give more young people an opportunity to explore and see what a future career at Siemens looks like. The deadline for applications is Wednesday, October 20.
Siemens virtual work experience is breaking down barriers to STEM careers. Moving to online delivery from in-person placements has increased the number of students Siemens can offer work experience to, has increased diversity and inclusion, and helped young people overcome limitations and barriers such as geography, mobility, financial constraints, and inflexibility due to school or employer timings.
For example, while ethnic minorities are broadly underrepresented in STEM fields, more than half (55%) of students participating in Siemens’ virtual work experience programme were from BAME backgrounds. Meanwhile, the programme has contributed to efforts to reduce the gender gap in STEM, by inspiring the 40% of female participants.
What is more, Siemens has been able to overcome geographical barriers, showcasing STEM as a career path to hundreds of 14 to 18-year-olds in every corner of the UK, rather than to just those living near Siemens sites.
Brenda Yearsley, Education Development Manager, Siemens GB&I said: “Offering free, accessible work experience for students is vital to increase diversity and inclusion, inspire a career in science, technology, engineering, and mathematics (STEM), and showcase Siemens as a career path.
“Moving to an online delivery has helped us continue to offer this valuable experience to young people, regardless of geographical location, with some truly remarkable outcomes when it comes to gender and ethnic diversity, something Siemens is passionate about addressing.
“While Siemens’ sites begin to open up their doors again to in-person work experience opportunities, the chance to continue to give more school and college students invaluable practical skills, industry experience, and a head start for their careers is increasingly important to the post-pandemic recovery.”
The two-week programme, which is delivered on careers platform Springpod, involves around 10 hours of activities, pre-recorded videos, quizzes and live webinars.
Modules include: an overview of Siemens, its core values and six lines of business; an introduction to the field of engineering, the various disciplines, sustainability in engineering and the design process; an introduction to the world of technology, the different pathways within the sector and what roles in tech involve; an introduction to the other business services such as sustainability, legal, marketing and finance; early careers opportunities at Siemens such as apprenticeship, internship and graduate schemes; an introduction to employability skills, how to build a CV and how to apply for a role at Siemens.
Once complete, students earn a certificate which can be used for a CV and Personal Statement.
Air conditioning and heating business expands in Mansfield
Oceanair UK Limited, an award-winning distributor of air conditioning and heating products, has expanded on Millennium Business Park in Mansfield.
Their existing air conditioning business has seen growth in the domestic air conditioning market and a massive growth in air to water heat pumps ahead of boilers being banned in new builds from 2025.
The industrial unit comprises 6,597ft² of warehouse space with 6 metre eaves, being ideal for Oceanair UK’s storage requirement due to their growth.
Anthony Barrowcliffe of FHP Property Consultants said: “Unit 3C Isabella Court is personally my ninth completed industrial transaction in the Mansfield area this year with a further three properties under offer. The Mansfield area is a fantastic industrial market with excellent access to the M1 and huge employment opportunities.
“The unit in its isolation was a great letting for both landlord and tenant and it was a pleasure to work with Tony Evanson, Managing Director of Oceanair UK Limited, who was honest, straightforward and did everything promised to a high professional level.”
Tony Evanson, Managing Director of Oceanair UK Limited, said: “As gas boilers are being phased out in favour of air source heat pumps it was imperative we increased our storage capability to keep up with demand, Anthony worked closely with us and expedited the whole transaction in a very timely manner.”
4 in 10 business leaders say regulation has a negative impact on their organisation
The Institute of Directors (IoD) has published data showing that the negative impact of regulation is only exceeded by that of the Coronavirus pandemic and employment taxes, and has called for the Government to do a better job in shaping a more business-friendly regulatory framework.
In a recent IoD survey of over 600 directors, 40% stated that compliance with Government regulation was having a negative impact on their organisation, compared to 53% for the Coronavirus outbreak, 41% for employment taxes, 40% for UK economic conditions and 39% for skills shortages/employee skills gaps.
In the IoD’s response to the BEIS consultation, ‘Reforming the Framework for Better Regulation’, Dr Roger Barker, director of policy, said: “In order for business to play a meaningful role in building back better, it is essential for the Government to do a better job in shaping a more business-friendly regulatory framework.
“New business regulation must be more critically scrutinised in order to ensure that it is effective, proportionate and free from unintended consequences.
“The process would be more robust if it incorporated a more central role for an independent scrutiny body, like the Regulatory Policy Committee (RPC), at an earlier stage of the policy making process.
“Similarly, we would like to see the government’s own impact assessments of proposed regulatory changes always published at the consultation stage so that they can be taken into account before the legislation is introduced into Parliament.
“As well as assessing individual regulatory proposals, a broader view of the cumulative impact of regulation is also required. This broader perspective should be developed in the context of an overarching objective to reduce unnecessary regulatory burdens on business.
“The previously employed offsetting approach of ‘One In, Two Out’ has not been particularly effective in controlling the aggregate regulatory burden on business. It is not the number of regulations that matters to business, but rather their effectiveness and impact on business activity.”
Light Science Technologies joins AIM
Light Science Technologies Holdings plc, the controlled environment agriculture (CEA) technology and contract electronics manufacturing (CEM) group, has floated on AIM.
In a successful placing the Derbyshire-headquartered company has raised gross proceeds of £5.2. million and joins with a market capitalisation of approximately £17.4 million.
Simon Deacon, CEO of Light Science Technologies Holdings plc, said: “We are delighted to be joining AIM, and welcome the support shown by our investors in this tremendous milestone for the company.
“We look forward to delivering shareholder value as we take advantage of the substantial CEA pipeline and bolster the capacity of our CEM division.”
The net proceeds of the placing are intended to be used to accelerate the group’s growth, primarily through its CEA operations, by expanding its UK scientific laboratory grow room, enhancing marketing campaigns, product design, tooling and development, geographic expansion into the Netherlands and for ongoing working capital purposes.
Astronaut Tim Peake to open Space Park Leicester
Tim Peake will be on hand to declare Space Park Leicester officially open at a special ceremony next spring.
The first British astronaut to visit the International Space Station will attend Leicester’s pioneering £100 million research, innovation and teaching hub for space-related high-tech companies and researchers for an official invitation only opening ceremony on Monday 14 March 2022.
Developed by the University of Leicester in collaboration with local, national and international partners, the 4,800m2 facility provides a base for space scientists, researchers and business minds to collaboratively work together from offices, shared laboratories, teaching facilities and co-working spaces.
In April representatives from construction company Bowmer + Kirkland handed over the keys to the building, marking a significant milestone in the completion of the first phase of the project, which opened this summer.
To date organisations joining space, climate and Earth observation scientists include: AST SpaceMobile, developers of the first space-based cellular broadband network for mobile phones, Satellite Applications Catapult, a government-backed technology and innovation company, space solutions specialists Northrup Grumman, air quality expert EarthSense, and Omnidea, an international space technology company.
The second phase of the development, also for collaborative work between industry and academia, will provide state-of-the-art laboratories and workshops focussed on Artificial Intelligence and robot-assisted satellite production.
Professor Richard Ambrosi, Professor of Space Instrumentation and Space Nuclear Power Systems in the University’s School of Physics and Astronomy, said: “We are absolutely delighted to announce that Tim Peake will join us at what will be a momentous celebration for Leicester, the East Midlands and the rest of the country.
“Being able to celebrate our magnificent facility and Leicester’s six decades of experience in space and Earth observation science, as well as one of the largest groupings of space-related researchers of any institution in the UK, together with Britain’s very own astronaut, will mark the start of something special.
“We are incredibly grateful to all of our partners for recognising the leading research taking place at the University of Leicester. Their support will enable us to develop innovative technologies and methods to transform our understanding of space and our own planet in the future.”
Space Park Leicester aims to leverage that capability and capacity to attract and grow space and space-enabled businesses. In doing so, it will bring jobs to the East Midlands as well as create expanded opportunities for students and the wider community.
Tim said: “Teamwork and communication are vital skills for any successful space mission – two key themes that resonate with Space Park Leicester, developed to provide a unique offering of collaborative work between University researchers and the private sector, working side by side to develop technologies and processes to be used in space.
“Space Park Leicester will highlight the exciting careers available within the space sector and help to train, educate and inspire our future generations.”
New funding to support culture and creative industries in Derbyshire
Derbyshire County Council is setting £1 million aside to boost culture and creative industries across the county after Cabinet members approved plans.
The funding, which will be earmarked from the council’s COVID-19 Recovery Fund, will be used to deliver a series of initiatives drawn-up in partnership with the Culture, Heritage and Tourism (CHAT) Board – a partnership which includes local councils working alongside some of Derbyshire’s key visitor attractions, higher education providers and organisations such as Arts Council England, National Heritage Lottery Fund, Marketing Peak District and Derbyshire, Arts Derbyshire and Derbyshire Museums and Heritage Forum.
Leader of Derbyshire County Council, Councillor Barry Lewis, said: “Derbyshire has a vibrant creative community and rich cultural heritage which are key to the county’s identity and unique story.
“The impact of COVID-19 has been devastating to Derbyshire’s creative and cultural economy, alongside the wider visitor economy, with those businesses that rely on attracting audiences and visitors some of the very last to return to normal operation.
“This funding will help support these businesses which make a valuable contribution to the vibrancy and vitality of our county, and in particular our 27 market towns across Derbyshire, which we are supporting to recover from the pandemic and the trend for online shopping.”
The plans include a series of initiatives which will be launched to:
- develop and diversify Derbyshire’s creative talent
- celebrate Derbyshire’s cultural heritage, stories, landscape and people
- use culture and creativity to help revitalise and attract more people to Derbyshire’s town centres
- develop distinctive signature projects, of scale and quality, to provide attractions for local audiences and visitors
- provide leadership, support and collaboration for culture heritage and tourism sectors across Derby and Derbyshire.
Notts business leaders challenged to join fight against homelessness
ON Thursday 11 November 2021, bosses, and senior members of staff from business across Nottingham and Nottinghamshire will take part in this year’s CEO Sleepout in support of local charities aiming to tackle homelessness and poverty.
CEO Sleepout has partnered with Nottingham-based charities; The Friary, Emmanuel House Support Centre, and Notts County Foundation, to bring together senior level executives and corporation owners from the local business community to spend a night under the stars at Meadow Lane.
Bianca Robinson, Chief Executive Officer of CEO Sleepout, said: “While it’s only for one night, and doesn’t come close to representing what homeless people experience on a daily basis, CEO Sleepout aims to raise awareness of and financially support the work of both local and national organisations looking to tackle the issue of homelessness.
“We are incredibly grateful for the many businesspeople who have taken part in our fundraising events across the country and want to challenge the Nottingham business community to get involved. We are inviting chief executives, senior members of staff and their teams from across Nottinghamshire to take part in what’s shaping up to be a memorable and rewarding night in support of a truly invaluable cause.”
Since the charity was founded in 2013, CEO Sleepout has held fundraising events at venues across the country, including Wembley Stadium, St James’ Park, Old Trafford Cricket Ground, The Alnwick Garden, and Lord’s Cricket Ground – raising more than £2.9m to date.
Sam Crawford, Head of Business Development at Notts County Foundation, said: “We are delighted to be, once again, supporting this fantastic initiative in Nottingham. Homelessness is such a prevalent issue across the entirety of the UK and organisations such as CEO Sleepout are undertaking crucial work to support some of the most vulnerable people in society.
“Placing yourself in someone else’s shoes and experiencing a small part of the struggles they face every day allows us to better understand life from difference perspectives, and in turn, educate ourselves on how we can better support those who need it the most.”
Representatives from several Nottinghamshire businesses, including John Pye, 200 Degrees, Nottingham City Transport, The Dairy, Page Kirk, blOKes, and Hallam have already pledged their support to this year’s CEO Sleepout, and encouraging others to do the same.
Ben Talbot, Chief Executive Officer of The Friary, said: “CEO Sleepout gives people the chance for both charity partners and the local business community to come together and raise awareness of the challenges faced by individuals either sleeping rough or at risk of homelessness. All the money raised is invested solely in ensuring both practical and emotional support is on-hand and available for those in need whenever required.”
Since 2017, CEO Sleepout events in Nottingham have raised £164,317 in the fight against homelessness, all of which has changed the lives of many people in the local area.
Denis Tully, Chief Executive Officer of Emmanuel House, said: “It’s easy to feel that we are all protected, but anyone can become homeless. Accountants, lawyers, teachers, children, and families – and they do. It just takes a mortgage or an illness. Business has special skills and talents not found in other sectors and can make a vital and important contribution to ending homelessness. Nottingham’s CEO Sleepout is a small challenge that can make a big local contribution towards ending homelessness.”
Planning permission granted for Stamford mixed-use scheme
Burghley and South Kesteven District Council have received planning permission for the St Martin’s Park development on Barnack Road, Stamford.
Last year Burghley and South Kesteven District Council announced they were collaborating to bring forward plans for the 14.7-hectare Barnack Road site which includes a designated commercial area; a mixed-use area; a retirement village; a range of residential properties, including 30% affordable homes; and areas of green and open space.
After carrying out stakeholder and public consultation in May and June 2020, the St Martin’s Park application was submitted in November 2020.
David Pennell, CEO of Burghley, said: “On behalf of both landowners we are delighted that our application for a quality driven mixed-use scheme at St Martins Park has been approved.
“We believe that this development will bring opportunity for Stamford and the surrounding area, the wider local economy and businesses, and that through long term sensitive sustainable development our town will become stronger and more resilient to the challenges ahead.
“We are excited to keep working with SKDC to ensure the delivery of St Martin’s Park that meets the needs of the current and future generations of Stamford, whilst protecting our wonderful heritage.”
Notts makes shortlist to host ‘world’s first’ fusion energy plant
An existing coal-fired power station in Nottinghamshire has made the shortlist of what is hoped to be the world’s first prototype fusion energy plant.
Part of the site at Ratcliffe-on-Soar has made it to the final five as part of a national search for potential locations by the government for alternative energy plants, with the final decision due to be announced in late 2022.
The UK Government is bidding to be the first to develop a commercial power station that will use the energy produced by fusion reactions to generate electricity. Fusion offers an inherently safe and virtually limitless source of clean electricity by copying the processes that power the sun.
The ambitious project – Spherical Tokamak for Energy Production – known as STEP, is being led by the UK Atomic Energy Authority (UKAEA).
The authority announced that part of the Ratcliffe-on-Soar power station site will now progress to the final stage of assessment and has the potential to host the fusion power station, aimed to be built by 2040.
West Burton A, near Retford, which was also being considered as part of the 15-strong long-list, announced earlier this summer, has made the reserve list. Although it won’t be immediately assessed alongside the shortlisted sites, it will be brought into the process by the end of this year if any of the five sites fall out of the process.
Nottinghamshire County Council coordinated this nomination process for the county working with several partners, including the landowners of these sites as well as Rushcliffe Borough Council and Bassetlaw District Council.
Councillor Ben Bradley MP, leader of Nottinghamshire County Council, said: “For a Nottinghamshire site to get down to the final five is incredible. We are another step closer to this being a reality.
“Achieving STEP would bring massive benefits to the county, putting it at the heart of the government’s plans to revolutionise the way we generate energy in the UK.
“It would build on the existing strengths of our universities and manufacturing sectors, but would also create new skills, training, and thousands of highly skilled jobs, attracting investment and delivering amazing overall benefits to our regional economy including the lucrative opportunities for the local supply chain to help construct the plant.
“While it would have been phenomenal to have two sites in the final five, the benefits will be felt across the whole county, should we be successful. It is also encouraging that West Burton A is the only site to be kept on as a reserve, which shows the strength of its bid.
“We are an ambitious county and have a proud heritage of producing energy which helped power the industrial revolution, but looking to the future, we want to be at the heart of the UK green energy revolution.
“As global energy demand continues to grow, this technology is expected to play a crucial role in helping to achieve net zero emissions – in a safe and sustainable way – during the second half of this century.”
Paul Methven, STEP Programme Director at UKAEA, said: “This is an important step forward in the process to find a home for STEP somewhere in the UK. We were pleased to receive a number of really good nominations during the open call for sites at the beginning of the year, including both Ratcliffe-on-Soar and West Burton A.
“Following this phase of assessment and recommendations made to the Minister, we’re delighted to have a strong shortlist of five sites with West Burton A in reserve. We’re looking forward to the next phase of assessment and the opportunity to find out even more about each of the sites and communities on the shortlist.”
UKAEA plan to start working with the shortlisted sites and local communities to gain a more in-depth understanding of the socio-economic, commercial and technical conditions associated with each site before making final recommendations to the Secretary of State in 2022.
UK Atomic Energy Authority (UKAEA) will be responsible for all aspects of the development, consenting, construction and operation of the proposed facility.
Loughborough software company sold to US business
Accrosoft Limited, a recruitment and employee onboarding software company, has been sold to Acendre Technologies Inc., a global HR software business headquartered in the US.
Based in Loughborough, Accrosoft was founded in 2008 by Alex Khakbiz and Mitesh Chauhan, experienced SaaS entrepreneurs. Accrosoft’s Vacancy Filler (VF) software streamlines talent acquisition and recruitment management for organisations.
Foresight Group LLP originally invested in Accrosoft in August 2018. Since then the private equity investment manager has taken a proactive approach alongside the management team to strengthen the business, accelerating both product development and commercial activities.
The company has established several strategic partnerships to extend the platform’s functionality and developed a range of features to strengthen its offering in its core markets, including education, the public sector, leisure and retail. This successful exit returns 2x to Foresight funds in a little more than three years with further upside for investors given the ongoing investment in Weduc.
Prior to the sale of Accrosoft, its subsidiary, Weduc, was spun out with Foresight’s funds retaining their shareholding. Weduc is a communication platform sold into the education sector and was initially launched in 2017.
The company has grown significantly since Foresight’s original investment, doubling its customer numbers over the past year following a £1.4m funding round in December 2020 led by Foresight and the management team. Weduc is expected to continue on this growth trajectory over the coming years, taking advantage of the increasing digitisation of the education sector.
Acendre and Accrosoft’s VF product are complementary businesses and by joining forces they will be able to offer a recruitment and HR management software platform across a much wider customer base as well as establishing a presence in Europe.
This transaction represents the sixth successful realisation by Foresight’s Private Equity team in the last 12 months.
Alex Khakbiz, CEO of Accrosoft, said: “Foresight’s support over the last three years has been invaluable in taking our business to the next level. We are delighted to begin the next chapter of our company’s journey with Acendre, which will enable us to showcase our Loughborough, UK-born technology offerings on a global scale.”
David Miles, senior investment manager at Foresight, added: “It has been a pleasure to work with Alex, Mitesh and the whole Accrosoft team over the last three years. This sale, to a large US buyer, validates Foresight’s approach of supporting regional UK businesses in their ambitions to become global players. This realisation delivers an attractive financial return to investors, while offering the opportunity for further upside through the remaining holding in Weduc.”
Foresight and the other shareholders were advised by Acuity Advisors and Shakespeare Martineau. RSM and RW Blears provided tax structuring advice.
69-acre logistics site acquired in Corby
Intermediate Capital Group (ICG) has acquired a 69-acre mission critical open storage & logistics site from Rockingham Automotive LLP in Corby, by way of a 25 year lease to STVA UK Limited.
STVA UK Limited is a subsidiary of Group CAT, an independent operator in transport and vehicle logistics. STVA has this year relocated to the purpose built site, as they continue to grow their compound management and services business. The site ensures the business is positioned to take advantage of changing habits and regulatory developments and is fully equipped to support the anticipated rollout of electric cars.
Chad Brown, investment director of sale & leaseback at ICG, said: “This is an attractive deal for ICG, supported by growing demand for limited open storage capacity. We look forward to working with STVA UK, as they continue to evolve their model.
“We continue to actively seek opportunities and are targeting mission critical assets across continental Europe and the UK. We have circa €1bn to invest and will look at all sectors and opportunities, where the importance of the asset to the tenant is evident.”
M1 brokered the transaction and advised Rockingham Automotive LLP. ICG was advised by JLL.
BGF appoints senior investor to Midlands team
BGF – the growth capital investor – has continued to expand its Midlands team, with the appointment of David Bellis as investor.
David joins BGF from Alantra Corporate Finance and brings more than eight years’ corporate and M&A advisory experience to the role. The qualified chartered accountant, who started his career at PwC, will be based at the company’s Midlands office.
At BGF, David will be responsible for all aspects of the investment process, including identifying and executing investments, through to working with the management teams of portfolio companies post-investment.
Gurinder Sunner, head of BGF in the Midlands, said: “We’re delighted to welcome David to BGF, at what is an exciting time not only for the company, but also for the region.
“BGF’s deal activity in the Midlands has been very strong during the year, with in excess of £80 million of capital being deployed to an array of exciting growth economy companies. By bolstering our team with people of David’s experience, we are perfectly positioned to respond to the demands of the regional and national marketplace over the coming 12 months.”
David said: “Having spent the last four years advising on and executing transactions, I am excited at the prospect of working with entrepreneurs and business owners as they scale their companies. BGF’s strategy of providing growth capital, being a supportive partner and helping business owners achieve their ambitions, really resonates with me and I am thrilled to be here.”
Generate opportunities at the East Midlands Property & Business Expo
Business Link Magazine will be amongst the exhibitors at the East Midlands Property & Business Expo on Friday 12 November 2021.
Taking place at the De Vere East Midlands Conference Centre, Nottingham, the event will provide an ideal day for networking and business generation.
An established event of over 20 years, the free to attend expo is aimed at the construction, property, business, investment, finance, professional services and related B2B markets.
The exhibition will open to attendees at 9am, with a seminar taking place between 10:30am and noon. A special networking lunch (for which tickets can be purchased here) will then take place between 12:15pm and 2:15pm, and the exhibition will close at 3:30pm.
For more information on exhibiting at the event click here.
To register to attend the event for free click here.
To secure tickets for the networking lunch click here.
Exhibitors include A+G Architects, Allica Bank, Aspbury Planning, Bassetlaw District Council, Bowmer + Kirkland, BSP Consulting, Business Link Magazine, Delta Simons, East Midlands Chamber, Empire Finance, Galliford Try, Invest East Midlands, Invest Newark & Sherwood, J Tomlinson, Lindum, Nottingham Trent University, Pick Everard, Pygott & Crone, Rigby & Co, Severn Trent, Stepnell, Wildgoose, YMD Boon, and more.
