The existing management team at QuidMarket will continue to operate the business on a go-forward basis.
The $71m deal is an important step in Propel’s global expansion strategy. Since its initial public offering in October 2021, Propel has continued to broaden its product and geographic offerings with the introduction of Fora Credit in Canada, Lending-as-a-Service partnerships in the US, and, most recently, an embedded lending partnership with KOHO in Canada.
QuidMarket has served UK consumers since 2011. A fully online, lending solution, QuidMarket is built on scalable and flexible technology that has originated over 310,000 loans in the UK since beginning operations in 2011.
Supported by Propel’s AI technology, financial and operational expertise, and capital resources, QuidMarket is expected to accelerate its growth.
“The acquisition of QuidMarket will accelerate Propel’s growth and is a critical step in our journey to becoming a global leader,” said Clive Kinross, Chief Executive Officer, Propel.
“When we went public three years ago, we set a goal to grow globally. As disciplined operators with a track record of profitable growth, this acquisition had to meet our strict acquisition criteria including a favourable operating jurisdiction, a strong cultural fit and to be financially accretive to our shareholders.
“QuidMarket serves a market of more than 20 million underserved consumers in the UK where the demand for credit far exceeds supply. Backed by Propel’s AI-powered technology, financial and operational expertise, and capital resources, we believe QuidMarket will be able to accelerate its growth while broadening access to credit for more underserved consumers.
“The QuidMarket team has demonstrated deep experience and a customer focus that sets them apart. United by a shared purpose, together we will build a new world of financial opportunity for consumers globally.”
The acquisition is expected to close in either Q4 2024 or in early Q1 2025.
Fintech company to acquire Nottingham lender in $71m deal
Propel Holdings, the Canadian fintech company, has entered into a definitive agreement to acquire Stagemount, trading as QuidMarket, the Nottingham-based digital only consumer lender specialising in providing short-term installment loans.
Connect with the property industry this Thursday at the East Midlands Bricks Awards 2024!
Taking place on Thursday 3rd October, the highly anticipated East Midlands Bricks Awards 2024 is just days away.
Set to celebrate the region’s property and construction industry, the event at Trent Bridge Cricket Ground is also an ideal networking opportunity, presenting a chance to form new connections with business leaders from across the East Midlands, as well as hear from guest speaker Paul Southby.
Paul is a partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema in Nottingham’s Lace Market, and a longstanding trustee of environmental charity Clean Rivers Trust. He is chair of Nottingham Partners, a group of businesses that supports the work of the local inward investment agency, Invest in Nottingham, and a board member and past chair of Marketing Nottingham and Nottinghamshire Limited. Paul is also a former High Sheriff of Nottinghamshire (2022/23).
Attend the glittering awards ceremony to see who takes home the title of Contractor of the Year, Developer of the Year, Commercial Development of the Year, Residential Development of the Year, Sustainable Development of the Year, Deal of the Year, Most Active Agents of the Year, Architects of the Year, Excellence in Design, and Responsible Business.
The Overall Winner will also be revealed at the event, sponsored by Blueprint Interiors, who will be awarded a grand prize – a year of marketing/publicity with Business Link worth £20,000.
Chloe Sproston, Creative Director at Blueprint Interiors, shared: “We’ve been involved in the awards since 2019 either as an award nominee or a sponsor. We continue to be impressed with both the quality of award submissions, but also the event, which attracts the elite of our region’s construction and property professionals.
“This year, we’re particularly excited to sponsor the overall winner category, further demonstrating our commitment to showcasing the very best talent in the region’s property and construction industry.”
A highlight in the business calendar, book your place at the awards now to avoid disappointment!
The event will begin at 4:30pm and continue until 7:30pm. Complementary drinks and nibbles will be served on arrival. Dress code is standard business dress.
East Midlands Bricks Awards 2024
When: Thursday 3rd October 2024, 4:30pm – 7:30pm
Where: The Derek Randall Suite, Trent Bridge Cricket Ground
Keynote speaker: Paul Southby, chair of Nottingham Partners, board member of Marketing Nottingham and Nottinghamshire, partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema, trustee of Clean Rivers Trust, and former High Sheriff of Nottinghamshire
Dress code: Standard business attire
Tickets: Available at https://www.eventbrite.co.uk/e/east-midlands-bricks-awards-2024-tickets-902294566337?aff=oddtdtcreator
Thanks to our sponsors:
Shortlist for the East Midlands Bricks Awards 2024
Architects of the Year – sponsored by Mather Jamie IMA Architects Design Haus Architecture Matthew Montague Architects Commercial Development of the Year – sponsored by Global HSE Group Brackley Property Developments – The Dock Extension, Leicester Pick Everard – Nottingham Central Library G F Tomlinson – The Air and Space Institute, Newark Contractor of the Year – sponsored by EMEC Ecology Cawarden Clegg Construction Winvic Deal of the Year – sponsored by Tutum Consulting heb Surveyors – The Oaks, Mansfield FI Real Estate Management – The Quad, Chesterfield Freeths – Former Boots factory site, Beeston Developer of the Year – sponsored by IMA Architects Vistry Group East Midlands Indurent Wavensmere Homes Excellence in Design – sponsored by Cawarden G F Tomlinson – The Air and Space Institute, Newark Design Haus – Musters Road Distinctive Developments – Woodwell and Meadow Barn Most Active Agent – sponsored by Roy Geddes Bricks Rigby & Co FHP Property Consultants Salloway Property Consultants Residential Development of the Year – sponsored by Devello Distinctive Developments – Woodwell and Meadow Barn Phoenix Brickwork UK LTD – IQ Nelson Court Chevin Homes – Chevin Close Responsible Business – sponsored by Press for Attention PR Stepnell Ltd Cawarden Cora Sustainable Development of the Year – sponsored by Viridis Building Services Ltd CPMG – Sir Peter Rubin Centre for Veterinary Education Henry Brothers Construction Ltd – Alfreton Park School Keepmoat – Gedling Green The Overall Winner, sponsored by Blueprint Interiors, will also be announced at the ceremony, who will be awarded a year of marketing/publicity with Business Link worth £20,000.
To be held at:
J25 business park reaches full occupancy
The latest letting at Interchange 25 Business Park by FHP has resulted in full occupancy on the site.
The final ground floor office suite was let to WHP Trust Ltd, the newest tenant to arrive on the business park, further enhancing the diverse range of occupiers. FHP recently secured the first floor tenants at Unit 5 Interchange earlier this year to Equans Ltd.
Interchange 25 Business Park is situated just off Junction 25 of the M1 Motorway and the A52 which connects Nottingham and Derby. The park comprises a development of 8 self-contained detached office buildings.
Amy Howard from FHP Property Consultants said: “I am thrilled to have secured the final letting with WHP Trust, achieving full occupancy on-site for our client. The business park has remained consistently popular throughout the years we have marketed these office suites and continuing our client’s success by attracting strong tenants.
“It was always a risk to split the floor plates on a floor-by-floor basis on Unit 5 with Equans occupying the first floor, however, the level of interest and enquiries during the short marketing period stayed strong to secure us a tenant. It is encouraging to see the demand for out-of-town business parks remain consistent, helping to revitalize the office market and encourage take up.
“I had been in discussions with WHP Trust for several months prior to securing this office space for them. From the first viewing at Interchange, it was evident that the unit suited all their requirements and needs, and solicitors were soon instructed. It has been a pleasure to assist them throughout their search and I wish them every success in their new office premises.”
A spokesperson for Interchange said: “As always, it is great to see the site reach full occupancy and the diverse range of tenants that we have on-site. FHP Property Consultants have done an excellent job in securing another tenant for Unit 5 to achieve this. We are continuing to listen to tenants’ needs and requirements so we can make the park suitable, keeping them tenants for a number of years to come.”
Clowes Developments launch Mansfield mixed-use development scheme
Clowes Developments have unveiled their plans for Pleasley Hill in Mansfield, which will provide a mixed-use development scheme prominently set just to the north-west of Mansfield Town Centre.
The 35-acre site, which is being marketed by FHP Property Consultants and Fisher German, offers potential for a wide range of end occupiers on both a freehold and leasehold basis.
With outline planning consent in place for a range of users, it is anticipated that over 300,000ft² of space will be developed together with a further 850 homes, which will augment the commercial development element and provide much needed residential development in the area and potentially supply additional labour for the commercial occupiers.
Marc Freeman, Development Director at Clowes Developments, said: “The combination of 850 homes and up to 300,000ft² of commercial space at Pleasley Hill is a very exciting opportunity that we are delighted to bring forward.
“We have appointed FHP Property Consultants and Fisher German to act on our behalf here and we are confident that they can provide us with a range of industrial, manufacturing and logistics users, petrol filling station, retail and leisure facilities in line with our outline planning consent and we will support their efforts by turning around proposals for occupiers quickly to try and create a best in class development in this north Nottinghamshire location.
“We are excited to see the scheme move forward and from the initial discussions our agents have had, we are confident that this scheme will be a success in 2025 and beyond.”
Tim Gilbertson of FHP Property Consultants said: “It’s great to see Clowes yet again put their money where their mouth is and bring forward this fabulous scheme which will offer a range of uses in a prominent position just to the north-west of Mansfield Town Centre.
“Well located, prominent and very easily accessible from both the centre of Mansfield and M1 motorway, this scheme really does tick all the boxes and we are expecting interest from occupiers looking to buy or rent space across a range of uses.
“Both our roadside retail/leisure and industrial/warehouse teams will be involved with this development, highlighting again the range of uses the scheme can accommodate.”
Rob Champion of Fisher German added: “Likewise, we can’t wait to get stuck into this development and it’s a pleasure to act on behalf of Clowes Developments once again.
“We have seen the growth in and around Mansfield in recent years and with this scheme providing additional housing plus employment facilities, it will bring much needed jobs and development to the area serving the future housing to be developed but also the existing neighbourhoods to the north-west of Mansfield.
“The scheme’s main road prominence and ease of access from the surrounding areas leave us confident in our ability to quickly find new occupiers wanting to take advantage of a great location and a developer who is ready and raring to develop and bring prosperity to the region.”
Exosens invests £1m to propel research and innovation with Space Park Leicester
A pioneer of technology used across the Solar System, Exosens – through its brand Photonis – has invested £1 million to advance space research and innovation facilities in collaboration with Space Park Leicester.
Exosens has worked with University of Leicester academics for more than 25 years and more recently it forged a relationship with the university’s science and innovation hub, Space Park Leicester, working alongside it on technology which is being used in some of today’s most exciting space missions.
It has now invested £1 million, through funding and other support, contributing to the creation of a Centre of Excellence in Optics Design and Manufacturing at Space Park Leicester.
This funding will enhance the METEOR space programme which brings together more than 100 researchers and industrial research and development personnel working on Earth observation and the challenges facing the space sector’s evolution.
Dr Adrian Martindale, Head of Space Projects and Instrumentation at Space Park Leicester and a Lecturer in Space Instrumentation at the University of Leicester, said: “Photonis’ technology is the enabler for certain types of scientific instruments and as a result its technology is on lots of space missions and is all over the Solar System.
“Exosens is supporting us to help develop the quality of the product and the performance of the technology, to push us into the next generation of projects. We have aspirations in space and they have aspirations for a market on the ground and by working together we hope to take both of these things forward.”
Chris Tisse, Chief Technology Officer at Exosens, said: “We are proud to support cutting-edge space research at Space Park Leicester. This significant investment reflects our commitment to advancing the technology that powers groundbreaking space missions and innovation. By working together with the brilliant minds at the University of Leicester, we aim to push the boundaries of what’s possible in both space exploration and Earth-based applications.”
Leicester space academics worked with Photonis on detector systems and together they developed an entirely new X-ray optic.
Photonis’ technology was the cornerstone of Space Park Leicester’s Mercury Imaging X-ray Spectrometer (MIXS) instrument which is on its way to Mercury on the European Space Agency’s BepiColombo mission.
Dr Martindale said: “Photonis’ technology is absolutely crucial to the development of that instrument. Essentially, MIXS will help to measure the X-rays that are emitted from the surface of the planet and by measuring them we’ll be able to figure out what the rocks on the surface are made of. This will tell us how the planet formed and we’ll see whether that fits in with theories about how the Solar System formed.”
The optic Photonis developed with Space Park Leicester has also led to Leicester’s space scientists working on several more significant missions.
These include SVOM (Space-based multi-band astronomical Variable Objects Monitor), which is dedicated to the study of the most distant explosion of stars, and SMILE (Solar wind Magnetosphere Ionosphere Link Explorer) which is a wide-field X-ray telescope that uses micropore optics to spectrally map the location, shape and motion of Earth’s magnetospheric boundaries.
Dr Martindale added: “Photonis’ technology will answer questions about Mercury and as a result questions about planetary science, it will answer questions about astronomy through SVOM and it will answer questions about the Earth through SMILE.”
Healthcare services provider secures new contract and extension valued at £6.1m
Totally, the Derby-based provider of frontline healthcare services, corporate fitness and wellbeing services, has been awarded a new contract for insourcing services and a contract extension for the delivery of NHS 111 online services; both contracts are for the North of England.
The insourcing contract, to be delivered by Pioneer Healthcare, is a further expansion of Totally’s footprint across the North of England. The contract, valued at £5 million will enable the treatment of patients across multiple medical specialties, including outpatients and day cases. This new contract will be mobilized immediately and the work delivered by end of March 2025.
Totally has also been awarded a contract extension for existing services delivering NHS 111 “Speak to” and online dispositions for a Trust in the North East of England. The contract runs from 1 April 2024 to 30 September 2025 and is valued at £1.1 million.
Wendy Lawrence, Totally CEO, said: “These two contracts demonstrate how we can support this for patients across the UK – making sure patients can access help when they need it, and increasing capacity so that no one waits longer than they need to for essential treatment.”
Government funding secured setting the scene for two cultural projects in Derby
Government funding has been secured for two key cultural projects in Derby, paving the way for the restoration of the historic Guildhall Theatre, and Derby Theatre’s redevelopment project.
Sign-off of £20 million of UK Government funding, which was put on hold when the General Election was called, has now been confirmed by the Ministry of Communities, Housing and Local Government (MCHLG).
Partners Derby City Council, the University of Derby and Derby Theatre will now work to develop their plans for the two buildings.
Half of the funding, £10 million, will go towards bringing the Grade II listed Guildhall Theatre back into use. Further funding has been allocated from the Council’s capital budget, and opportunities for match funding are being explored.
Councillor Nadine Peatfield, Leader of Derby City Council and Cabinet Member for City Centre, Regeneration, Strategy and Policy, said: “It is fantastic news that this much-needed funding has been secured for our city. Now we can look towards restoring one of our historic buildings and create more space for community-led arts groups to perform right in the city’s cultural heart.”
The other half of the funding will go towards a new accessible and flexible studio theatre adjoining the current building at Derby Theatre. In addition, a new Learning and Research Hub will develop further the undergraduate and postgraduate offer to study theatre in a professional setting and give more space to Derby Theatre’s expanding community programme.
Professor Kathryn Mitchell CBE DL, Vice-Chancellor of the University of Derby, said: “We are delighted that plans to develop Derby Theatre are progressing forwards.
“The Theatre plays a vital role in the creative and cultural ecology of our city and is a key part of our university. As a professional, producing and learning theatre, it provides our students with a unique and valuable opportunity to study alongside professionals.
“We are fully committed to supporting Derby Theatre and the regeneration of our city and look forward to continuing to work with partners on this project.”
Sarah Brigham, CEO and Artistic Director of Derby Theatre, said: “These new facilities will enable us to expand and embed our community programmes into the heart of the theatre, become a hot house for artistic talent in the city and develop work which suits a more intimate setting. At a difficult time for artists and cultural venues, we are delighted by this vote of confidence in Derby Theatre.”
ITP Aero UK opens doors to school students to learn more about aerospace
ITP Aero UK has opened its doors for groups of students from five local schools to learn more about manufacturing and engineering in aerospace.
The event was hosted at ITP Aero’s largest UK site in Hucknall, Nottinghamshire, as part of Make UK’s National Manufacturing Day 2024. Students enjoyed a packed day of activities to help inspire the next generation of manufacturers and engineers.
Twenty four students from four local schools/colleges joined the event where they were invited to take a tour of the whole ITP Aero UK facility and learn about the many products and processes that take place within its walls. They also had the chance to speak to the teams on-site about their careers, and find out more about ways to break into the sector.
Following the tour, ITP Aero UK’s team of STEM Ambassadors held some fun activities to get the group thinking and working together. As part of the day, the Midlands Aerospace Alliance and their Defence Roadshow were hosted, which enabled visitors to get an even greater understanding of the whole industry.
Across the country, British manufacturing companies opened their doors to give their local communities the chance to see first-hand the potential careers and jobs on offer in this sector. National Manufacturing Day 2024 is open to all age groups, from school leavers to more experienced workers looking at reskilling to consider the possibilities of a career in manufacturing.
Ian Williamson, Managing Director of ITP Aero UK, said: “Together at ITP Aero, we find better ways to power flight and keep its magic alive. As a growing company, we are continuously looking to the future and seeking people who can help us to create world-class products.
“We were delighted to invite our local schools and colleges in to see our company, and to show students, teachers and careers advisers what we do and the diverse range of careers we offer.
“There is so much history here in Hucknall. We sit on the site where the Flying Bedstead was developed and first took flight, and have been producing parts for aeroplane engines here since the second world war. Events like this show our commitment to continue making history, with the manufacturers and engineers of the future.”
Stephen Phipson, CEO of Make UK, the manufacturers organisation, added: “This is a really exciting day where the manufacturing sector came together to celebrate the amazing things that Britain designs and makes.
“Britain’s manufacturing companies are at the forefront of global renewable technology development and some of the most innovative engineering developments seen anywhere around the world.
“This is a sector with amazing opportunities and we hope National Manufacturing Day has again this year given people who have never had the chance to see inside their local businesses just what is going on and the opportunities available to them.”
Derbyshire, Nottinghamshire and Leicestershire businesses win Regional British Chambers of Commerce Awards
East Midlands Chamber has congratulated four of its members, revealed as winners of the Regional British Chambers of Commerce Business Awards 2024.
Derbyshire’s Midland Lead, Derby-based HSG UK, Nottingham-based Turner and Townsend and Leicestershire-based Druck have been announced as recipients.
The four regional winners were put forward by East Midlands Chamber after first winning its own local Business Awards in 2023.
Regional British Chambers of Commerce awards won by East Midlands Chamber members:
Midland Lead – People and Work Business of the Year
HSG UK – Green Innovation Business of the Year
Druck – Global Britain Business of the Year
Turner & Townsend – Digital Revolution Business of the Year
East Midlands Chamber Chief Executive Scott Knowles said: “Being presented with a British Chambers of Commerce Business Award is testament to the leadership, strategy and innovation at each of these firms. The East Midlands punches high, and these thoroughly deserved awards further underline the region’s place as a Centre of Trading Excellence.
“I extend my congratulations to Midland Lead, Turner and Townsend, Druck and HSG. These East Midlands Chamber members continue to be a shining example of what great business looks like, driving economic growth and, between them, doing Derbyshire, Nottinghamshire and Leicestershire proud.”
Midland Lead Managing Director Francoise Derksen said: “We’re delighted that Midland Lead has been recognised by the British Chambers of Commerce for this prestigious People at Work award.
“Over the last few years, we have continuously invested in a series of initiatives to make sure that our team feel valued and that everyone can thrive, through development, coaching and training programmes, reward plans and health and wellbeing initiatives.
“We believe it is the people who work here, that help us drive forward and we recognise that every member of staff plays an important role in our future success. To see our commitment to people development being recognised by the BCC, is truly inspiring.”
Turner & Townsend Director Mark Deakin said: “At Turner & Townsend we are working with our clients to innovate and digitally transform our services. It’s fantastic that the British Chambers of Commerce has recognised our achievements with this award.
“Central to our mission is supporting our clients in achieving their net zero carbon ambitions using our digital tools to account for the two currencies of construction – cost and carbon.”
Druck, a Baker Hughes business, Vice President Gordon Docherty said: “Being recognized as one of the East Midlands’ most successful businesses is a tremendous accolade and reflects the quality of our pressure measurement technology and the hard work and dedication of the Druck team.
“From the highest mountains, the deepest oceans, and even in outer space, Baker Hughes’ Druck solutions are enabling customers from every corner of the world achieve efficiency and productivity gains.”
HSG UK Founder and Managing Director Simon Rice said: “We are obviously deeply honoured to receive this recognition for our work in making a positive impact on environmental sustainability.
“This caps off an incredible year for HSG having achieved The King’s Award for Enterprise in Innovation for our next generation products which enable our family-owned company to continue to punch above our weight in the competitive washroom services industry by bringing innovative products and services to market in line with its mission to raise washroom hygiene standards and help customers achieve their sustainability targets.
“HSG’s ethos is rooted in developing sustainable systems and products and our vanguard water conservation system is proven to significantly reduce water consumption, save money and improve the washroom environment.”
Leicestershire business growth consultancy makes raft of appointments
Leicestershire-based business growth consultancy, Champions (UK) plc, has strengthened its Creative and Content team with seven new appointments.
The family-led company – which incorporates business growth, after-dinner speaking, music and entertainment, celebrity talent, and events – was set up in 2003 and employs nearly 100 full-time staff.
With a growing number of national and international clients to support, the company has expanded its team with Wayne Rees as Graphic Designer, Sophie Turrill as Content Executive, Mark Lawrence as PR Executive, Coby Allen as Creative Media Executive, Oliver Hunter as Marketing Executive, Ryan Jhaj as Strategy Executive, and Taylor Morley as Digital Marketing Exec.
Champions MD Matthew Hayes said: “We’re delighted to be adding to the talent in our Creative Team to help manage the increasing output for our clients. I am sure they will all prove to be real assets for the company and welcome them into the Champs team. I look forward to working with them.”
