Chesterfield-headquartered housebuilder’s bid for rival rejected

Chesterfield-headquartered Avant Homes has made a bid for housebuilder Crest Nicholson, battling offers from rival Bellway. The latter, however, says it has rejected the “unsolicited, preliminary, indicative proposals from Avant Homes regarding a possible all-share combination of Crest Nicholson and Avant.”

The deal would retain the listing of Crest Nicholson on the Main Market of the London Stock Exchange.

The Avant proposal implied Avant shareholders, including its main shareholder, Elliott Investment Management, would own approximately 30 per cent of the enlarged group.

After evaluating the Avant proposal with its financial advisers, Barclays and Jefferies, Crest Nicholson concluded it was not currently minded to engage in discussions regarding a potential transaction with Avant due to being in an offer period for a possible all-share offer from Bellway. 

Crest Nicholson recently rejected a second bid from Bellway, saying it significantly undervalued the business and its future standalone prospects and was not in the best interests of Crest Nicholson’s shareholders.

IMA Architects backs Developer of the Year at the East Midlands Bricks Awards 2024

IMA Architects has joined the sponsor line up for the East Midlands Bricks Awards 2024, backing the Developer of the Year category. Formed in 1997 by David Isherwood and Ian McCann, IMA has evolved into one of the leading UK Architectural Companies, with a strong reputation built on quality of design and client focus. IMA operates across all sectors, with particular expertise in large-scale logistics warehouse developments. Anthony Day, Managing Director at IMA Architects, said: “The Bricks Awards are always a fantastic event that brings together some of the best companies and experts within the East Midlands construction industry. “We are proud to support the awards so that Business Link can continue to highlight the excellent work being done in our region and recognize the businesses and individuals that are driving growth in the industry. IMA Architects works with several of the leading developers in the Midlands so we wanted to show our support by sponsoring the Developer of the Year Category. “Good luck to everyone who is planning on entering the awards!” The East Midlands Bricks Awards, which will take place on Thursday 3rd October, at the Trent Bridge Cricket Ground, recognise development projects and people in commercial and public building across the region – from office, industrial and residential, through to community projects such as leisure schemes, schools and public spaces. We also highlight the work of architects, agencies and those behind large schemes. Winning one of these awards will add considerably to a company’s or individual’s brand and enhance their commercial reach significantly. To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page.
Award categories include:

Nominations end Thursday 5th September

A highlight in the business calendar, winners will be revealed at a glittering awards ceremony on Thursday 3rd October, at the Trent Bridge Cricket Ground – an evening of celebration and networking with property and construction leaders from across the region. Tickets can be booked for the 2024 awards event here. Connect with local decision makers over nibbles and complimentary drinks while applauding the outstanding companies and projects in our region. Attendees will also hear from keynote speaker Paul Southby, partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema, trustee of Clean Rivers Trust, chair of Nottingham Partners, board member of Marketing Nottingham and Nottinghamshire, and former High Sheriff of Nottinghamshire. Thanks to our sponsors:      

             

To be held at:

Growth momentum continues in financial services

Financial services business volumes grew solidly in the second quarter, building on a strong rebound in Q1, according to the latest CBI Financial Services Survey. Firms expect volumes to increase at an even faster rate over the next three months. The quarterly survey, conducted between 30 May and 17 June, also showed that optimism increased and headcounts grew for the fifth consecutive quarter. However, profitability fell slightly, and the value of non-performing loans increased for the second consecutive quarter. Key findings:   
  • Business volumes grew solidly in the quarter to June (weighted balance of +22%) for the second consecutive quarter (+36% in March). Firms expect volumes to increase at an even quicker rate in the next three months (+53%).
  • Optimism increased in the quarter to June, compared with three months ago (+17% from +29% in March).
  • Average spreads declined in the quarter to June (-16% from -19% in March) but are expected to increase next quarter (+11%).
  • The value of non-performing loans increased again in the quarter to June (+11, unchanged from March), seeing the joint-fastest rise since early 2021. However, they are expected to be unchanged over the next quarter (+1%).
  • Profitability fell slightly in the quarter to June (-5% from +37% in March). The decline is set to be short-lived, with FS firms expecting profitability to increase strongly next quarter (+46%).
  • Headcount grew in the quarter to June (+18% from +40% in March), but this marked the slowest rise in the five-quarter run of growth seen so far. Firms expect headcount to grow at the same pace next quarter (+18%).
  • Firms expect to increase investment in IT in the next 12 months (compared to the last 12). However, capital expenditure on land & buildings and vehicles, plant & machinery is expected to fall considerably.
    • The cost of finance was the most commonly cited factor likely to limit investment over the next 12 months, rising to its second-highest share on record (36% from 11% in March).
    • The share of firms citing inadequate net returns as a concern fell noticeably from March (22% from 46%), while the proportion citing demand uncertainty also fell sharply (to 16% from 53%).
Louise Hellem, CBI Chief Economist, said: “Financial services firms have seen a second strong quarter in a row this year, with optimism and business volumes continuing to rise. Positive business conditions have supported a further increase in headcount in the sector. However, investment plans remain mixed as concerns around the cost of finance were at their most widespread in nearly a decade. “Businesses will be looking at the General Election, and the clear mandate given to the incoming government, as a reset moment for the economy. That means looking to the new government to hit the ground running and staying laser-focused on delivering growth. It’s those tough decisions, taken early, that will help us to attract investment, seize growth opportunities and revitalise our pitch to global investors.”

Clowes Developments purchases major Mansfield mixed-use development site

Clowes Developments have purchased a 35-acre site at Pleasley Hill in Mansfield. Pleasley Hill was initially presented to the land and planning team at Clowes Developments in 2017 by land promotor, David Winterbotham. Since then, extensive due diligence and research into the site’s potential has been happening behind the scenes and resulted in an off-market deal and outlined planning consent to develop the site. At a time when the group have been heavily developing existing land banks across England and Scotland, the purchase of Pleasley Hill demonstrates Clowes’ commitment to growth, ensuring a healthy pipeline of future development remains in place for years to come. Thomas Clowes, Managing Director at Clowes Developments, said: “The length of time this has taken highlights the need for strategic land when immediate opportunities are hampered by planning restrictions or heavily fluctuating markets. “Fortunately, this is something Clowes has in abundance, and I’m delighted to be able to add another active site to our portfolio. “Remarkably I’ve been working with David Winterbotham on this since I was a graduate surveyor, luckily for myself and the group it’s been a pleasure to do so. We’re very excited to get this one out of the ground in the coming months.” Clowes and their team of professional advisors have been working with the local authority, Mansfield District Council who allocated the site for development in their ‘adopted local plan 2013-2033’, to create a masterplan that meets the need of the community and surrounding areas. The site at Pleasley Hill achieved outlined planning consent for a mixed-use development in 2023. In line with the adopted local plan, Pleasley Hill will benefit from 320,000 sq ft of employment opportunities ranging from industrial, manufacture and logistical use to convenience, filing station, retail and leisure facilities. The site also has outlined consent for 850 homes with housing developers lined up to deliver the residential arm of this development. Clowes Developments are currently working with Avant and David Wilson Homes to bring forward the residential element of the development.

Local business leaders react as Labour wins UK general election

Labour has won the general election in a landslide, with Keir Starmer set to become the new Prime Minister. Following the news, local business leaders have reacted. East Midlands Chamber Chief Executive Scott Knowles said: “Business wants the best outcomes that will remove barriers to economic growth in the East Midlands and we look forward to hearing the new Government’s plans as soon as possible.

Scott Knowles
“Government’s purpose is to create an economic environment that allows businesses to invest, to create and sustain jobs – and then to get out of the way to allow business to thrive. That’s what the business community needs for growth in the East Midlands and we stand ready to advise and hold the new government to account at both national and regional level to ensure that enacting the needs of our region’s businesses is top of the list. “Business currency is confidence – confidence means growth, investment into people, plant and machinery and digital transformation. Our Manifesto for Growth sets out what businesses in the East Midlands need across the areas of Investment, Innovation, International Trade and Infrastructure. We’ve presented it to Westminster; it’s ready for the new government to get on with and I urge its implementation.”   Chris Freeston, Nottingham Office Managing Partner and National Head of Banking and Finance at law firm Freeths, said: “As predicted in the polls, the election has resulted in a strong Labour victory. In terms of the impact on business, Keir Starmer and Rachel Reeves have met with most of the FTSE 350 in the last 18 months and have been courting the wider business community.
Chris Freeston
“The expectation is that in return for offering stability, planning reform to accelerate housing and infrastructure and a ‘business friendly’ environment to generate much needed growth, the new government will introduce greater rights for employees. This could include employment rights from day one, which may adversely impact retail and seasonal employers such as agriculture and hospitality, and potentially be much more interventionist than the previous government. As ever, we will have to wait and see exactly what changes are implemented and how quickly.”   Leanne Mordue, director of Derby digital marketing firm JDR Group, said: “I think this win for Sir Keir Starmer is going to be welcomed by our clients and our industry, because his campaign has been built on change and stability.
Leanne Mordue
“If he is able to deliver that, people will experience the increase in optimism you get when things change and then they will appreciate a period of stability and the kind of steadiness he has been talking about. “We’ve had nothing but bad things after another for the past few years and that’s created nothing but uncertainty. Even though stability sounds dull, businesses will appreciate a period of calm because it’s more predictable, and that’s good for business.”   Malcolm Prentice, group chairman of rail depot maintenance firm MTMS, based in Moira, Leicestershire, said: “Rail is important to Britain, so I want this new Government to treat it seriously and take time to understand it. I don’t want them to use it as a political grandstanding opportunity, or to ignore it because it’s not an obvious vote winner like the NHS or schools.
Malcolm Prentice
“The last transport minister who really understood the railways, in my opinion, was Patrick McLoughlin. Now that we have a new government, I hope that whoever is appointed transport minister starts off in the right way. “No speeches, no instant changes – they need to begin by listening, and listening to the right people, who are the SMEs whose livelihoods truly rely on the rail industry and who rarely, if ever, get a say on their own industry. “The rail industry needs to change and they are the ones who deserve the chance to help shape the future.”   Penny Strutton, business psychologist and leadership specialist, Think Forward Consulting, said: “Keir Starmer’s leadership marks a pivotal moment for the UK, with Labour set to address years of conservative mismanagement. Effective change management is essential to restore pride and prosperity. Starmer must articulate a clear vision of success, supported by a comprehensive strategy with specific goals and timelines. Strong, visible leadership is crucial, with Starmer and his team championing the change and involving key stakeholders, including political allies, civil servants, and the public.
Penny Strutton
“Consistent messaging builds trust, and regular updates on progress, successes, and challenges are essential. Encouraging feedback and dialogue ensures that concerns are understood and addressed. Engaging individuals at all levels fosters ownership and commitment, while providing necessary training and support helps people adapt to new ways of working. “Identifying and celebrating early successes builds momentum and demonstrates the benefits of change. Ensuring these quick wins align with long-term goals is vital for sustainable improvement. Tracking progress through key performance indicators allows for regular reviews and adjustments, with flexibility to adapt strategies based on feedback and changing circumstances. “Promoting values and behaviours that support change, such as accountability and collaboration, is critical. Addressing resistance constructively ensures smoother transitions. By applying change management best practice to a huge political overhaul, Starmer and Labour can manage change effectively, delivering immediate benefits and setting the stage for long-term prosperity.”   Dr Selina Ambrose, product manager of Promethean Particles in Nottingham, said: “Seeing a new Government arrive can be a very exciting time. My hopes are that whichever Government is in power will make it a priority to support the UK’s science and technology companies who are doing exciting work to try and tackle the most important environmental issues the world faces today.
Dr Selina Ambrose
“Here at Promethean Particles we are scaling up an exciting class of compounds, called Metal-Organic Frameworks, to industrial volumes and have won significant funding in order to carry out our work. It would be great to see a new Government championing this country’s innovative science and technology companies, both at home and on the world stage. “During Covid, the world saw what can be achieved when scientists unite and collaborate to address a major global issue, by creating vaccines. Let’s see the new UK Government prioritise its support for science and business to collaborate and make significant impact in tackling climate change, water shortage, and the many other environmental issues facing mankind today.”   Matt Clutterham, owner of Derby-based brand and transformation agency Q Branch Consulting, said: “It is businesses that create the most important and impactful change in our world, not governments.
Matt Clutterham
“Although governments control such things as tax, minimum wage and legislation, it’s important for business owners and leaders to take personal responsibility for the strategies, actions and leadership that will drive their organisations forward, not just rely on, or blame governments. “The results reflect the importance of trust, brand promise, proposition and a human centred approach in building loyal followers, customers and teams.”

University of Nottingham spinout’s AI vet tech chosen by Sainsbury’s

Sainsbury’s has become the first retailer in the world to invest in new AI veterinary technology used to measure and enhance positive animal welfare on dairy farms, which could revolutionise the approach to cattle care. In partnership with Vet Vision AI, a new spinout company from the University of Nottingham, Sainsbury’s is trialling new technology which has been designed to spot when cows are happy and healthy, and why. The cows are monitored through low cost and portable cameras which can be used by vets on multiple farms. The AI works by recognising patterns in behaviour, analysing and turning video footage into real-time, accurate data. As well as monitoring behaviour, the AI will offer farmers suggestions on ways to further improve the animals’ lifestyles. Examples of this include housing improvements for better comfort and animal engagement and providing enrichment such as cow brushes, similar to a back scratcher, to reduce stress.
The ability for round the clock monitoring enables more informed decision making, as farmers will have unique insights into cow welfare that they may not be able to identify with standard vet visits. The continuous analysis of behaviour also allows for a ‘test and learn’ approach to the suggested welfare tactics. The use of AI on farms is an expanding area, but what sets this technology apart is the ability to show when a cow is thriving, as opposed to just spotting illnesses and ailments. The constant monitoring can also identify diseases early, preventing vets having to treat disease later down the line. Beyond the benefits for the animal, the tech promotes a step forward in farming efficiency as a healthy cow means a more productive cow. If, for example, the AI advises improving cow comfort through increased lying time, this then may lead to better leg health and more milk produced for the same amount of feed, as the cow is stronger on its hooves. Currently on 30 of Sainsbury’s Dairy Development Group farms, the aim is to roll out the technology further next year. The SDDG was founded in 2007 to provide more support to farmers. It includes around 170 farms who supply Sainsbury’s with its own brand milk. “I have begun to use this AI technology with dairy herd health clients as part of our routine monitoring of health and welfare. The ability of the system to observe the cows’ natural behaviours without disturbing the animals, and to turn these observations into hard outcomes, is of huge value when planning interventions to improve foot health, udder health, fertility performance and so on,” said Dr James Breen, Professor in Cattle Health at the University of Nottingham. Dr Matt Turner, Vet and Agriculture Manager at Sainsbury’s, said: “Investing in British farming and continuously improving animal health and welfare are key priorities for us and this innovative new technology will mean we can help both farmer and animal. “Our dairy farmers that are using the technology are already seeing real benefits and we look forward to expanding it to our wider network of Dairy Development Group farms soon.” Dr Tom Angel, Veterinary Surgeon at Synergy Farm Health, said: “Vet Vision AI has allowed us to identify positive animal welfare on farms, such as increased lying times and cow comfort, as well as management factors that need addressing to improve these outputs. The use of the computer vision technology has then been able to assess the impact of any changes we have implemented, objectively revealing how the animals have responded positively to the environmental and management changes.” Dave Bacon, dairy farmer at Gleadthorpe Farm, said: “I know that happy, comfortable cows produce more milk, but accurately measuring and knowing how to improve cow comfort can be challenging. Using Vet Vision AI, we were able to measure how comfort levels improved after we upgraded our housing and put new cow mattresses in. Knowing that my cows are more comfortable as a result means I can feel confident the investment was worth it.”

Image Scan secures £3m contract with prominent defence contractor

Image Scan, the Leicestershire-based supplier of X-ray screening systems to the security and industrial inspection markets, has been selected for a contract with a prominent UK defence contractor, NP Aerospace Limited, for the supply of its ThreatScan® portable X-ray system.

The contract, subject to the finalisation of commercial terms, will commence with a three month trial and testing process expected to commence in September 2024. Once the trials are successfully concluded, Image Scan will commence delivery of its ThreatScan® portable X-ray systems.

The estimated contract value is £3 million over a 36 month period.

The ThreatScan® portable X-ray system is designed to empower bomb technicians, enabling them to conduct rapid and accurate threat assessments across a diverse range of operational scenarios. The system comprises a portable X-ray generator, a detection panel, and an operator’s workstation running the company’s image processing software. A customer-specific range of ancillary equipment complements the system.

Vince Deery, Image Scan’s Chief Executive, said: “I am delighted that we have secured this contract, which has been achieved against stiff international competition. This success stems directly from our revised product development strategy to focus on high performing portable systems and confirms our confidence in the strength of our extended portable X-ray product range within a competitive market.

“Image Scan remains committed to providing cutting-edge solutions in X-ray screening and reaffirms its dedication to meeting the evolving needs of the security inspection sector.”

Major apartment scheme tipped for approval in Derby

Amended plans from Wavensmere Homes and Wilson Bowden Developments for a major new apartment scheme in Derby have been recommended for approval. Permission is sought for the erection of 195 residential apartments and a café on land off Full Street. The proposed development would accommodate the residential apartments, café, residential amenity space, gym, private and public landscaping, car and cycle parking and new vehicular access on Full Street. Located on the eastern side of Full Street, the application site is on the remaining development plot of the former Police Station site, which has remained vacant since its demolition in late November 2013. The site already holds full planning permission for an office development, however a lack of market certainty and interest in office development has meant the site has sat vacant for over 10 years. In recent years the site has been subject to fly-tipping and vandalism, but recently, more positively, has been a designated street art location. The scheme will be considered at a planning meeting on 11 July.

Young East Midlands business talent celebrated

2024’s Generation Next Awards have taken place at a lively ceremony in Derby, showcasing the outstanding achievements of people aged 18-35 across the region. 12 awards were presented, covering a wide range of business areas such as innovation, creativity and customer service at Derby’s vibrant Bustler Market. The prestigious Future Leader Award went to Emma Sharpe, Head of Services at Menphys. The judges said of Emma: “Aside from being accomplished and dedicated, Emma also represents what it means to be a great leader.  Her leadership is embedded in her ethos, and she inspires others by leading through example.” Other awards issued during the evening included the Equality, Diversity and Inclusion Award, which went to Laura Till from AMBITION Sports Coaching Ltd. The Rising Star Award, was presented to Scarlet McCourt of trentbarton. TV presenter and BT Broadcast Journalist Kirsty Shelts hosted the event, while a range of speakers included Generation Next Vice Chair Scarlett Canavan. East Midlands Chamber President Stuart Dawkins addressed the audience at the opening of the ceremony, while High Sheriff of Derbyshire Ian Morgan OBE spoke of the importance of future leaders in the region. In his speech Stuart Dawkins said: “Generation Next is a community in which to belong, in which to grow. It’s a valuable asset for the East Midlands. I would like to congratulate all the Generation Next Awards winners and all the finalists that got to this stage.” DJ Beau Jack played an upbeat set to mark the occasion after the awards were announced, while winners and guests interacted among street food stalls, bars and arcade games as they celebrated their success. Winner of the Future Leader Award, Emma Sharpe said: “I’ve got quite a large team in quite a small organisation so I really have to role model good leadership. It’s really nice that the judges have recognised that. Being someone that really advocates for your team regardless of their position is what makes a good leader, support your team members, care how they are. I’m glad that I’m able to show that. I’m really proud of winning this award.” Generation Next Lead and East Midlands Chamber Director of Resources Lucy Robinson said: “The level of talent this year among all the winners and entrants was just off the scale. It’s tremendous to see the ingenuity of young people across the East Midlands. Generation Next does wonders in boosting confidence, we hear that all the time from our members, and enabling young people’s business skills to develop is something really special. “While the country was racing to polling stations to decide who’ll lead it, we were celebrating the brightest-shining future leaders, entrepreneurs and creatives right here in the region, so I’m sure it was a memorable night for them. “Bustler Market was the perfect place for the ceremony – Generation Next really values the benefits of networking with like-minded young people, so having an informal environment with street food stalls really added to that. I like to think the East Midlands will fare pretty well over the years ahead as the business stars we saw tonight will no doubt make their mark.” Generation Next Awards 2024 Winners  Apprentice of the Year, sponsored by Loughborough College
  • Emily Barnes – Donaldson Filtration GB
Creators and Makers Award
  • Alistair Bullock – Purpose Media
Customer Service Award
  • Hayley Cousins – Loughborough College
Entrepreneur of the Year
  • Stephen Atkinson – Longbow Venues
Environmental Warrior Award sponsored by Hydropath Technology
  • David Allerton – SE-LF
Equality, Diversity, and Inclusivity Award, sponsored by Futures Housing Group
  • Laura Till – AMBITION Sports Coaching Ltd
Innovation and Technology Award, sponsored by Hardy Signs
  • Elizabeth Ashton – Loughborough University
Investing in Young Talent Award
  • Longbow Venues
Rising Star Award, sponsored by Nottingham Trent University
  • Scarlet McCourt – trentbarton
Start-up Award, sponsored by University of Nottingham
  • Danielle & Ben Slater – Stephen Eve Financial Planning Ltd
Volunteering & Charitable Impact Award, sponsored by ITS Technology Group
  • Joshua Leach-Aslam – Two Chevrons Group / Two Chevrons CIC
Future Leader Award, sponsored by University of Derby
  • Emma Sharpe – Menphys

Labour wins UK general election

Keir Starmer is set to become the new Prime Minister after a landslide general election win for Labour. It follows 14 years leading the country for the Conservatives, which saw major losses on election night, while Labour smashed the number of seats required for a majority. The Liberal Democrats also saw significant gains, while Nigel Farage became an MP as leader of Reform UK, and the Greens saw a good performance. A number of high profile Conservatives saw themselves lose out, including previous Prime Minister Liz Truss, Grant Shapps, Penny Mordaunt, and Jacob Rees-Mogg. Rishi Sunak, however, held his seat in Richmond and Northallerton. This morning Keir Starmer said to a cheering crowd: “We did it. “You campaigned for it. You fought for it. You voted for it and now it has arrived. Change begins now.”

Local business leader reactions to follow.