East Midlands Chamber appoints director of policy and insight
Richard Blackmore has been named as the new director of policy and insight at East Midlands Chamber, following 8 months as head of special projects.
Prior to joining the Chamber, Richard spent 9 years at the Confederation of British Industry (CBI), 7 of which as Midlands director.
The Chamber’s director of policy and insight is responsible for engaging with senior civil servants and government decision makers, at all levels, in shaping policy that enables economic growth in the East Midlands.
East Midlands Chamber Chief Executive Scott Knowles said: “One of the most important elements of the Chamber’s role at the heart of the East Midlands business community is to be its voice and lobby those in power at local, regional or national level to get the best outcomes for businesses in the region and grow its economy.
“Richard’s thorough understanding of the needs of businesses across the East Midlands, the challenges they face and opportunities they can seize, arms him with the skill to be the crucial link between what the business community says it needs and then getting those things into policy and pushing for their implementation. I extend my congratulations to Richard as he takes on the post.”
Richard Blackmore said: “I’m delighted to take on the role of director of policy & insight. Since joining the Chamber, I’ve enjoyed seeing first-hand the valuable work that takes place every single day in supporting, listening to and driving the asks businesses need for growth. I’m very much looking forward to working with businesses of all sizes, playing my part building on and continuing that journey, helping their success.
“We’re in the early days of devolution and the East Midlands Combined County Authority’s inception, we also have a general election just a fortnight away and I stand ready to engage with whoever is placed to represent each part of the East Midlands, locally or nationally, to get the asks outlined in our Manifesto for Growth actioned and be that ear and strong voice of the business community.”
Medical packaging firm acquires Derby business
Sterimed, a medical packaging firm, has completed the acquisition of Riverside Medical Packaging, a supplier of sterilization packaging systems and services, based in Derby.
Specialist in complex medical packaging solutions, Riverside has become over the past 40 years a leading UK provider of tailored contract packing services for the medical device industry, housing 12 cleanrooms (3 Class 8 & 9 class 7) with significant thermoforming production capabilities.
Under the tradename Aseptic Medical Devices (AMD), the company has also successfully developed multi-packed syringes and medical devices in a format designed exclusively for the production of aseptically manufactured parenterals for hospital pharmacists and compounders.
The management team of Riverside, led by the Managing Director Matthew Roe, will stay in place and join the entrepreneurial journey of Sterimed. David Shaw, founder of the company, will stay as a director of Riverside and will join the Sterimed core entrepreneurs’ team by becoming a shareholder of the Sterimed group alongside the existing management team, families, and financial partners of Sterimed.
Thibaut Hyvernat, president and CEO, said: “I am delighted to welcome a wonderful new team, and a wonderful business, within Sterimed. All the preparatory works and discussions have taken place in such a constructive spirit that this alliance became obvious for everybody very quickly, making all of us sure of its relevancy.
“This is another big step forward in Sterimed development strategy, bringing a lot of new cross-fertilization opportunities for Riverside Medical and a number of current Sterimed sites and businesses.”
David Shaw, founder of Riverside, said: ”We are delighted and thrilled to have completed this transaction and to now be part of the Sterimed Group. Over its 45 year history Riverside has grown into one of the UK’s leading medical packaging suppliers. Our success has been the result of a dedicated and committed workforce, long term vision and innovation.
“With the synergies, opportunities and security that will now arise from being part of the Sterimed family of companies, I am confident that the future prosperity of Riverside is assured, and our customers will benefit hugely from the wider variety of services Riverside will now be able to offer.”
Matthew Roe, who will remain as Managing Director of Riverside, said: “Myself, my management team, and our proficient and experienced workforce are thrilled to be joining the Stermed Group.
“The synergies for cooperation and expansion within the group will accelerate our growth and cement our position as one of the leading providers to the medical device industry. The partnership with these prestigious medical packaging companies will give us a global presence and create exciting new opportunities.”
Sally Saunders of Translink said: “It has been a privilege to work with the shareholders of Riverside Medical packaging. The business has achieved significant growth through continued innovation and building trusted customer relationships, becoming a market-leading player and we are excited to see the huge growth potential in joining forces with the Sterimed group.”
Advisers on the transaction included Sally Saunders and Amanda Betts from Provantage Corporate Finance. Legal advice came from Nigel Blackwell and Harpinder Nahl from Browne Jacobson.
Infuse Technology appoints head of sales and procurement
Simon Hulland joins Derby-based IT services provider Infuse Technology in a new role as head of sales and procurement as the firm continues to strengthen its team and grow its client base of Midlands and UK-based businesses.
With 30 years’ experience in IT, Simon started his career at 18 as an IT consultant and engineer at Infuse’s group company PKF Smith Cooper where he worked for over 10 years, before he transitioned into IT sales and procurement.
In the past five years, Simon established a complete global procurement and logistics department at a UK IT firm, whilst simultaneously running their UK sales department.
Simon will be taking this experience into his new role at Infuse, where he will head up all sales and procurement for their existing and new clients, as well as proactively looking at ways to continually grow their portfolio of services to better serve their clients.
Paul Howard, Managing Director of Infuse, said: “We are delighted to welcome Simon to Infuse and to push forward with our growth plans across the Midlands and UK. With Simon’s extensive experience in IT, sales and procurement, we are confident he will be an asset to our specialist team and instrumental to our future growth.”
Simon Hulland, head of sales and procurement, said: “I am excited to be joining Infuse and applying my expertise from my career so far to my new role here. Working with people, building connections and securing new business opportunities are where my passions lie. I have lots of ideas I can’t wait to implement and look forward to helping Infuse further their expansion plans.”
An introduction to the AI Act: what you need to know
Whether you’re an organisation using AI-driven chatbots for customer enquiries, developing predictive algorithms for credit risk, or image recognition software for security purposes, the upcoming legal obligations of deploying certain artificial intelligence (AI) technologies under the EU’s landmark AI Act may severely impact your data handling practices.
A team of experts in data protection services and AI governance have penned the following article to help businesses understand the requirements of the AI Act, as well as what will be required of your organisation in order to achieve compliance.
What is the AI Act?
The AI Act establishes a regulatory and legal framework for the deployment, development and use of AI systems within the EU. The legislation takes a risk-based approach, categorising AI systems according to their potential impact on safety, human rights and societal well-being. Some systems are banned entirely, while systems deemed ‘high-risk’ are subject to stricter requirements and assessments before deployment. AI systems are categorised into different risk levels based on their potential impact, with the burden of compliance increasing proportionate to the risk. The three main categories are prohibited, high risk and low risk. Prohibited systems are banned entirely, due to the unacceptable potential for negative consequences. High risk systems are those with a significant impact on people’s safety, wellbeing and rights. They are allowed, but are subject to stricter requirements. Low risk systems are those which pose minimal dangers, and therefore have fewer compliance obligations.How will the AI Act and the GDPR work together?
“In many cases the AI Act and the GDPR will complement each other,” comments one UK-based data protection specialist. “The AI Act is essentially a product safety legislation designed to ensure the responsible and non-harmful deployment of AI systems. The GDPR is a principles-based law, protecting fundamental human privacy rights.”Where are we at the moment?
The AI Act was approved by the European Council on 21 May 2024, with a phased implementation schedule over two years, which has been designed to give organisations time to make necessary changes to their systems and practices. The Act will apply to public and private organisations operating within the EU that develop, deploy, or use AI systems within the EU’s single market. This includes companies, institutions, government bodies, research organisations and any other organisations involved in AI-related activities.When will the AI Act apply?
The AI Act’s finalised text will be published in the Official Journal of the European Union, officially entering into force twenty days after publication – expected by late June or early July 2024. The new law will then apply two years later, in 2026. The EU Commission has also established the EU AI Office. From 16 June 2024, the AI Office will support the implementation of the AI Act across all Member States.Timeline and important deadlines
The AI Act becomes law (expected late June to early July 2024) 6 months later AI practices with unacceptable risks to health and safety or fundamental human rights will be banned. The deadline for compliance on unacceptable risk AI systems is, understandably, one of the first to be enforced, so organisations should evaluate their risk exposure in this area as soon as possible. 9 months later The AI Office will finalise the codes of conduct to cover the obligations for developers and deployers of AI systems. These codes will provide voluntary guidelines for responsible AI development and use. 12 months later The rules for providers of General Purpose AI (GPAI) will come into effect and organisations must align their practices with these new rules. “GPAI” refers to advanced AI systems capable of performing a wide range of tasks – ChatGPT being one such example. In addition, the first European Commission annual review of the list of prohibited AI applications will also take place 12 months after the AI Act enters into force. 18 months later The European Commission will issue implementing acts for high-risk AI providers. This means organisations using high-risk AI systems must follow a standard template to monitor the AI systems after deployment. The monitoring plan will help to ensure that any issues or risks are promptly identified and addressed. 24 months later The remainder of the AI Act will apply, including regulations on high-risk AI systems listed in Annex III of the AI Act. These systems include those related to biometrics and include technologies such as fingerprint recognition, facial recognition, iris scanning and voice authentication. 36 months later Regulations for high-risk AI systems stipulated in Annex I become effective.Conclusion
The AI Act represents a substantial legislative shift for organisations that use artificial intelligence in the EU, and organisations must plan for severe criteria and assessments, especially for systems posing a high risk. As the AI landscape continues to develop, staying informed and adaptable will be key for businesses to continue harnessing AI’s potential while adhering to new legal obligations.Games Workshop to invest in new manufacturing facility
Games Workshop is set to expand in Nottingham, investing in a new manufacturing facility to be built on land it owns on Willow Road, Lenton.
The business has submitted plans for the new facility to Nottingham City Council as it looks to support ongoing business growth.
Subject to planning permission, it is proposed that the new facility will be open in Spring 2026.
When it opens, Games Workshop will move its packing operations out of existing factories along Willow Road and relocate them to the new facility.
Moving packing operations out of existing factories creates space for Games Workshop to expand Tooling and Injection Moulding operations. This expansion programme will start in 2026 and will last for at least five years. This period will see investment in machinery and infrastructure and the creation of new jobs in the Tooling and Injection Moulding areas.
Dan to lead BHP’s new commercial finance service
Independent accountancy firm BHP has appointed Dan Summerfield to head up its new Commercial Finance service.
With recent data highlighting that access to funding is becoming more challenging for SMEs, the firm’s new offering will help clients identify and secure the right finance product for their needs, while ensuring they have access to competitive terms.
Dan, a Yorkshire financier, joins BHP from Panacea Investment Group in Leeds and has held senior roles in the banking and finance sector over his 30-year career. Dan will oversee all aspects of commercial finance and the firm’s Professional Banking and Finance team, ensuring his wealth of experience can support clients across BHP’s five offices.
Hamish Morrison, Joint CEO at BHP, said: “As trusted advisors, we’re committed to not only delivering a high-quality service to our clients but also expanding our offer to meet the challenges our clients may be experiencing. This new service is evidence of that approach, and we believe it will ensure our clients and their businesses can thrive, despite potential headwinds.”
Dan added: “I’m pleased to be joining BHP as it continues to grow. Together with the other partners, I’m looking forward to expanding this service to ensure we can support our clients.
“The finance market has been a volatile space over the last few years, adding to the challenges many businesses have had to face. With the marketplace expected to continue to change as a result of economic uncertainty, it’s crucial that businesses have access to expert advice. Bringing together my experience with the other expertise within BHP, we can offer integrated advisory services that empower our clients.”
Dan is the latest hire for BHP, which has recently announced the appointment of Mark Stanton to Partner in its Digital Finance team, made several new promotions and created new heads of service positions.
BHP Joint CEO Lisa Leighton said: “The last year has been a transformational period for our business as we’ve continued to grow organically, by supporting our clients to do the same. Having been recognised repeatedly over the last 12 months by independent assessor Great Place to Work® UK in a number of categories, we’re pleased to not only be able to attract the best talent in the region, but also to find new talent through our graduate and non-graduate training schemes.
“As we continue to invest in our services and our people, we’re really looking forward to what’s to come for BHP and our clients.”
Northamptonshire logistics firm falls into administration
Northamptonshire-based Linkline, a provider of UK and international logistics, haulage, warehousing, and pallet network services to businesses, has fallen into administration.
The company, which employed 104 staff, operated out of its three hubs near Wellingborough.
Due to the economic challenges and competition within the logistics industry, the director of Linkline had recently launched an accelerated M&A process to find a buyer for the business and explore restructuring options. However, without any viable offers and unable to meet its financial obligations, Linkline couldn’t continue trading and administrators were ultimately appointed.
Rick Harrison and Chris Pole of Interpath Advisory were appointed as joint administrators to Linkline Transport Limited on Tuesday 18 June 2024.
100 staff were made redundant on appointment. The joint administrators have retained the remaining staff to support them in winding up the business’s operations and will market the business and assets for sale.
Rick Harrison, Managing Director at Interpath Advisory and joint administrator of Linkline Transport Limited, said: “The UK logistics sector has been reeling from multiple economic factors that have made trading conditions challenging for many operators. In addition, Linkline struggled in the face of intense market competition and without significant additional investment, it was unable to continue trading.
“Our team is on site to provide support for employees in making the appropriate claims with the Redundancy Payments Service and is also engaging with customers.”
Banner Jones advises on sale of Peak Sensors Holdings
Banner Jones, in collaboration with Mitchells Accountants, has advised Peak Sensors Holdings on its recent £2.4 million sale to SDI Group plc.
SDI Group plc, quoted on AIM, specialises in the design and manufacture of scientific and technology products for digital imaging and sensing and control applications. This acquisition expands its portfolio and capabilities.
Peak Sensors, a leading UK manufacturer based in Chesterfield, produces standard and bespoke temperature sensors, including thermocouples and resistance thermometers, servicing various industries such as glass, ceramics, incinerators (including energy from waste), cement and ovens.
With a 5,300 sq ft leasehold facility and 14 employees, Peak Sensors reported revenues of £2.1 million for the year ending March 31, 2023.
Further to the acquisition Roshan Aucklah, CEO of Peak Sensors since 2017, will continue to lead the business under SDI Group ownership. Peter Smith, one of the founders, will remain as a consultant. Peak Sensors will now be part of SDI Group’s Sensors and Controls division.
Andrew Fielder, Solicitor and Head of Business Legal Services at Banner Jones, said: “It was a real pleasure to support Peak Sensors in an acquisition deal that will enhance and drive the company’s success. We are also pleased to have worked again with Mitchells Accountants to support another local Chesterfield business.”
Ken Ford, Chairman of SDI, said: “The acquisition of Peak Sensors is a strategic step in our Group growth, demonstrating opportunities to acquire businesses with high-quality products and export growth potential. We expect the acquisition to be earnings-enhancing in the first full year of ownership. We are delighted to welcome Roshan Aucklah, Peter Smith, and their staff to the SDI Group.”
Warehouse investor sells Chesterfield site for £46m
Warehouse REIT, the multi-let warehouse investor, has completed on the sale of £57.5 million of single-let assets in three separate transactions.
This includes Barlborough Links in Chesterfield, sold for £46 million.
Warehouse REIT acquired the site with Amazon as its tenant in 2020 for £57.3m.
The deal is in line with Warehouse REIT’s strategic focus on the multi-let warehouse asset class.
The other properties sold comprise Parkway Industrial Estate in Plymouth, sold for £6.3 million, and Celtic Business Park in Newport, sold for £5.2 million.
Simon Hope, Warehouse REIT, said: “Rebuilding dividend coverage is our key priority, and by reducing our debt and our finance costs, the sale of these single-let assets is an important milestone in that respect.
“At the same time, we continue to reshape our portfolio to focus on the highly attractive multi-let subsector of UK real estate, which plays to our strengths and is where we can drive income and capital growth over the long term.”
Forum to help budding entrepreneurs succeed in business
Budding entrepreneurs can get free expert guidance from top local business professionals at a summer forum that is being staged in Erewash.
The event aims to encourage start-up ventures while also providing crucial mentoring to people who want to grow existing enterprises.
Experts on start-ups, IT, law and business finance will be on hand with friendly one-to-one advice.
The event on Wednesday 26 June has been organised by the Erewash Partnership, which is a local enterprise agency supported by the council.
It is being sponsored by Morley Hayes Hotel, which is hosting the session in its Granary Loft from 11am to 2pm. The Mayor of Erewash Cllr Kate Fennelly will be among attendees.
Entry is free for Partnership members, guests and those who may be interested in joining.
An invitation to entrepreneurs states: “Whatever your business and whatever market you are aiming for, this event could provide the springboard, inspiration and contacts that you are looking for.”
Places need to be booked in advance.
