2023 Business Predictions: Jennie Holland, Managing Director, Jennie Holland PR

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2023 Business Predictions: Jennie Holland, Managing Director, Jennie Holland PR
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Jennie Holland, Managing Director at Jennie Holland PR. Putting to one side the current economic challenges, I want to focus my 2023 predictions on that of the business owner. Everyone I speak to is incredibly busy and has been for what feels like a long time, and while we don’t know what the future holds in Q1, Q2 and beyond in 2023, I think we have a good idea of what might be to come. However, it’s not all doom and gloom, there is so much good that we take for granted. Business owners, and the teams that they lead, are accustomed to change, to adapting, to being agile – we learnt all about that during the global pandemic and some of those changes we made at that time continue to play their part in businesses. I predict that business owners will face what’s to come head-on and with a can do, carry on regardless attitude, because that’s what they do and have done before. They will keep their focus on their business strategies and goals and always with a positive mindset. So, whatever the economic weather in 2023, I know that with business owners at the helm of our East Midlands economy, we are in the strongest position we can be.

HSH Cold Stores to acquire fellow Grimsby firm

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HSH Cold Stores to acquire fellow Grimsby firm
Grimsby-headquartered HSH Cold Stores, part of Constellation Cold Logistics and a provider of temperature-controlled storage and distribution solutions across the UK, has reached agreement to acquire fellow Grimsby firm Associated Cold Stores & Transport Limited (ACS&T), a subsidiary of Camellia. The transaction is expected to close on 10 January 2023. The acquisition of ACS&T will expand HSH’s strategic presence across the UK, increasing the company’s storage capacity to include ACS&T’s facilities in Grimsby, Tewkesbury, and Wolverhampton, and grow the company’s storage offering to around 140,000 pallet positions. In addition, the acquisition will boost HSH’s offering of temperature-controlled distribution services, which grows to 75 LGV lorries when including HSH and ACS&T’s existing fleets. Anthony Howard, Managing Director at HSH, noted the strategic benefits of HSH’s acquisition of ACS&T: “We are enormously proud and excited to welcome ACS&T to the HSH family, the acquisition will provide a unique opportunity for HSH to expand its storage and distribution services for our new and existing customers. “Having co-founded HSH nearly 20 years ago, I am extremely proud to see how our company has grown over the years and would like to extend my gratitude to our team on reaching this milestone. I look forward to collaborating with the team at ACS&T to accelerate our growth and develop new high quality cold chain solutions.”

Frasers Group snaps up raft of fashion brands from JD in £47.5m deal

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Frasers Group snaps up raft of fashion brands from JD in £47.5m deal

Shirebrook-based Frasers Group has acquired a number of premium fashion brands from JD Sports Fashion.

The deal, including Base Childrenswear, Choice, Clothingsites (including Brown Bag Clothing), Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty Green, Prevu Studio, Rascal Clothing, Tessuti (including Xile), Scotts, Watch Shop and Topgrade Sportswear (including Get The Label), comes by way of the acquisition of shares held by JD and the transfer of all of the indebtedness owing to JD by the businesses, by, and to, subsidiaries of Frasers Group.

The amount payable for the acquisition of the shares and the indebtedness from JD is up to £47.5 million in the aggregate and will be funded from Frasers Group’s existing cash resources.

Completion of the acquisition of eight of the businesses and the debt took place on exchange, with completion of the acquisition of the remaining seven businesses (Cricket, Tessuti, Scotts, Giulio, Choice, Rascal Clothing and Topgrade Sportswear (including Get The Label)) expected to take place in early 2023.

Auctioneer reinforces senior management team with new director promotion

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Auctioneer reinforces senior management team with new director promotion

Following significant growth of the business, Nottingham-headquartered national auction house, John Pye & Sons Ltd, has reinforced its senior management team by appointing Addison Pye to the Board of Directors.

Addison Pye, grandson of founders Ann and John Pye, has been promoted to director from his previous position as a commercial manager, providing security and clear succession among the firm’s senior management.

With more than seven years of experience throughout the business, starting as an auction porter, Addison has more recently led expansion projects in Europe with a new facility in Zaragoza in Spain. In addition, Addison has played pivotal roles in the development of new initiatives within trading and delivery departments, with him and his team often acting as the bridge between many operational departments, from IT to the sale rooms and marketing, requiring both creative and critical thinking skills daily.

Addison Pye, director, said: “I’m excited and honoured about the director’s decision to elect me to join the John Pye & Sons Ltd Board. I look forward to bringing my ideas to the table and continuing the rapid expansion of this dynamic business.

“It feels surreal to be following in the footsteps of my grandparents, the founders of the business, and I’m delighted to now be a part of the company I’ve grown up being fascinated with. I’m extremely driven to make the family and company proud and achieve our full potential over the years to come.”

John Pye & Sons Managing Director, Adam Pye, said: “Naturally I’m delighted and very proud. The continued success of the current Board is vital for our clients, customers and colleagues alike.

“My parents and founders, Ann and John are very proud, not just because the family business remains on a good course, but because Addison has a natural flare for business and finance. Addison’s well-rounded ability and creativity bring a new dynamic to the board and demonstrates the company’s ambition for the future.”

John Pye Auctions has continued to take industry leading strides in a record breaking 2021/22 financial year, now employing over 700 staff members and expanding into Europe. It recently celebrated having exceeded £33 million turnover for its last set of unaudited accounts, improving on the previous year’s turnover of £26.4 million by over 28 per cent, as it continues to realise its ambitious plans for growth.

£14m creative business hub prepares for 2023 opening in Northampton

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£14m creative business hub prepares for 2023 opening in Northampton
A new £14 million hub for creative businesses is gearing up to open its doors in Northampton. Vulcan Works has been created by transforming a Grade II listed ironworks factory in the heart of Northampton’s Cultural Quarter into a space that will support start-up businesses in the creative industries through the provision of lettable office space, workshops, meeting rooms and co-working spaces. The construction and refurbishment works have been funded by West Northamptonshire Council (WNC) and South East Midlands Local Enterprise Partnership (SEMLEP), who facilitated a Local Growth Fund contribution of £6.3 million, together with £3.06 million from the European Regional Development Fund. Vulcan Works has already attracted lots of interest from prospective tenants and viewings have been planned for the new year. Key stakeholders joined representatives from WNC for a first look in August once construction was completed. This was followed in September by the announcement that Oxford Innovation Space would take over as the management company for the new hub. Since Oxford Innovation Space started managing Vulcan Works in September, work has progressed and support staff and local suppliers are currently being appointed with a view to Vulcan Works officially opening in February. Among the newest recruits are commercial manager Kelly Boosey, centre manager Garrick Hurter and assistant centre manager Gail Haddon. Kelly said: “I am thrilled to come on board and work on such an exciting project. Already we have received a great volume of enquiries from a range of businesses within the creative and digital industries and have planned to start showing people around the space in the New Year. “We will host our first Open Day mid-January which is already fully booked with further dates planned, so that we can showcase this extraordinary space. We can’t wait to start building the community at Vulcan Works. “We are more than just space. Along with the fantastic, specialised business support we offer, we are going to create a brilliant hub for start-ups and scale-ups in Northampton. We would encourage anyone wanting to find out more to get in touch.” It is estimated that Vulcan Works will support around 150 start-up businesses in its first 10 years, creating around 500 jobs in the area. The centre has also pledged to work with local contractors and agencies, ploughing more money back into the local economy. Cllr Daniel Lister, Cabinet Member for Economic Development, Town Centre Regeneration and Growth, said: “We are thrilled with how Vulcan Works has turned out. The space has been finished to an exceptionally high standard, whilst retaining a number of period features which provide a nod to our local history here in Northampton. “The project is really gaining momentum now and is close to opening its doors. I look forward to finding out more about the creative start-up businesses who will call this unique space home and seeing what they achieve through the dedicated support on offer.” As part of the Vulcan Works’ unique offer, Oxford Innovation Space will also provide access to a programme of workshops, seminars, 1:1 coaching and networking. Jo Stevens, Managing Director at Oxford Innovation Space, added: “We have been managing Innovation Centres across the country for more than 30 years and each centre is different. “We are hugely excited by Vulcan Works and it has been an honour to be part of such an inspiring regeneration project. We can’t wait to see some talented creative businesses move in and hope they feel just as inspired by this space as we are.”

Local business supporting Nottingham Hospitals Charity this Christmas

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Local business supporting Nottingham Hospitals Charity this Christmas

The team at local business, Shredall SDS Group, is supporting Nottingham Hospitals Charity this Christmas, raising money for the cause and spreading some festive cheer in the area.

A cheque for £1,000 was presented to the charity for the children’s neonatal ward at Queen’s Medical Centre (a specialist centre for East Midlands children, treating over 1,500 babies every year). Shredall SDS Group continues to make a difference for these children and their families year-round through its work with the Nottingham Hospitals Charity Business Club.

Beyond its financial contributions, the organisation also volunteered to help bring comfort, joy, and festive spirit to the poorly children at the hospital this holiday season. Founder and chairman, Lloyd Williams, became Santa for the morning, handing out sweets and chocolate to young patients.

And finally, putting its industrial-grade equipment to good use, the local business has committed to helping the Nottingham Hospitals Charity to collect Christmas trees in the New Year as part of its recycling scheme. This allows households across Nottingham to sign up to have their old trees collected, whilst also donating towards the cause.

Shredall SDS Group will be volunteering once more for this day on Saturday 7th January 2023, contributing its document storage vehicles to fetch trees across Nottinghamshire. The Christmas trees will then be recycled to help local residents have the most sustainable festive period possible.

Charlotte Williams, marketing and PR manager, said: “Partnering with Nottingham Hospitals Charity is our way of saying thank you for the amazing work they do! In an ideal world charities wouldn’t need to exist but they do. Every donation received, big or small, adds up, and helps charities get to work and make a positive difference.

“Seeing the smile on the children’s faces when they saw Santa this week was incredible and helped spread some Christmas cheer. We look forward to continuing to work with NHC in 2023 and help support their fundraising appeals.”

Leicester financial services company acquires Nottingham firm

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Leicester financial services company acquires Nottingham firm
Furnley House, a financial services company part of Superbia Group, has acquired CDG Financial Services Ltd as it looks to expand its holdings, with Shawbrook backing an initial deal worth £3.9 million. Based out of Leicester and employing 42 people across the group, Furnley House provides IFA services, Fund Management, and Investment Research Services to its clients. With over £450 million assets under influence, Furnley House is now looking to further expand its portfolio through organic client growth and acquisition of firms that reflect its business values.
The initial £3.9m funding will be used to refinance the group’s existing debt and provide funding for the acquisition of CDG. Furnley House will then be provided with additional funding for an additional IFA acquisition expected in the first quarter of 2023. Stefan Fura, Managing Director at Furnley House, said: “Our partnership with Shawbrook has been vital to support Superbia Group as it enters a new era of expansion – extending the capabilities of our offering, and reach of our services. “Shawbrook’s ability to quickly onboard us and provide a line of credit made them an obvious choice when assessing possible lenders. The team also reassured us that deadlines would be met, enabling us to proceed with the acquisition with minimal issues. “We look forward to working closely with the Shawbrook team as we continue our partnership in future.” Steve Armstrong, director, Corporate Lending at Shawbrook, said: “Furnley House has an experienced management team and a history of completing successful acquisitions. It is a pleasure to be able to support them as they continue to expand their business. “With a strong presence in their market already and strong ambitions for the future, we’re looking forward to seeing and supporting their journey.” Furnley House was recommended to Shawbrook by the Heligan Group who have worked with the Bank previously. Matt Croker, director, Heligan Group, said: “Furnley House is an ambitious and high-growth business being backed by a lender who recognises the achievements of Stefan and his team to date and their ability to continue their buy and build strategy. It was great to be involved in this phase of their story and we look forward to seeing them continue to grow with Shawbrook’s support. Well done to all involved.” Gunner Cooke LLP provided legal counsel to the Shawbrook team with Shakespeare Martineau acting for Superbia. Magma Chartered Accountants also conducted the Financial Due Diligence on the deal.

Jobs saved as Grantham hotel sold out of administration

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Jobs saved as Grantham hotel sold out of administration
The Olde Barn Hotel in Grantham has been sold out of administration, seeing all jobs saved. The sale to an unnamed buyer comes after the hotel fell into administration for the third time. It had previously been rescued by Shepherd Cox Hotels (Grantham) Limited in 2020, part of the Shepherd Cox Hotel Group. The Olde Barn Hotel has over 100 bedrooms, a leisure club, restaurant and function facilities. Nicholas Barnett, administrator at Libertas Insolvency Practitioners, said: “I can confirm that following an extensive marketing campaign (that took place prior to my appointment), a sale of the business and assets took place shortly after my appointment as administrator of the company. “I am pleased to report that all employees were transferred to the purchaser and as such there will be no redundancies. “Furthermore, the purchaser is honouring all pre-paid future bookings, so the hotel continues to trade and customers will not be affected.”

Joules subsidiary The Garden Trading Company rescued from administration

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Joules subsidiary The Garden Trading Company rescued from administration
A Yorkshire entrepreneur has rescued The Garden Trading Company (a subsidiary of Market Harborough-based Joules Group PLC) from administration, saving all 53 jobs. Under the undisclosed deal, TIM Group Holdings (TGH) will work with the current management team to continue to deliver “exceptional quality” home and garden products. TGH, founded by Yorkshire entrepreneur Tim Whitworth, is a private equity house that uses independent capital to invest in and partner with businesses of varying sizes. Tim Whitworth, managing partner, said: “We are delighted to have the opportunity to work with a business with such great history and provenance, along with an unrivalled product range. We are extremely impressed by the management team and have great confidence in supporting and investing in their future.” Ryan Grant and Will Wright from Interpath Advisory were appointed joint administrators to The Garden Trading Company on 16 November 2022. Founded in 1994, The Garden Trading Company takes inspiration from both the British countryside and city lifestyle trends to develop products for consumers and some of the world’s leading retailers. Laurie Houghton, Managing Director of The Garden Trading Company, said: “I’m delighted that TIM Group Holdings shares our vision and commitment to both our customers and our team to support our ambitious plans in growing both the brand and product range in the future.” Ryan Grant, Managing Director at Interpath Advisory and joint administrator, said: “The Garden Trading Company had grown rapidly to become a leading retailer of distinctive garden and homewares, so we’re pleased to have achieved this outcome which ensures the business will continue to trade, and which safeguards over 50 jobs. We wish the management team and TGH all the very best for the future.” The Garden Trading Company was advised on the legal aspects of the deal by Eversheds Sutherland. The buyer, TGH was advised by Freeths LLP.

Melton Building Society appoint new non-executive director

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Melton Building Society appoint new non-executive director
Melton Building Society have announced the appointment to its Board of Elizabeth Lockwood as non-executive director and chair of the Risk Committee. Elizabeth joins the Melton Board after 25 years in the banking industry as a risk management specialist. She spent 15 years covering corporate and financial institutions at Deutsche Bank in the UK, before moving onto senior and executive risk roles in commercial, retail and private banking at RBS/Natwest. In her free time, Elizabeth volunteers as an external expert member of the of the Audit and Risk Committee for Samaritans and she is a qualified executive coach and therapeutic counsellor. Melton Building Society is a signatory of the Women in Finance Charter and is proud to have a gender mix across the Board, which includes three females in key roles within the Board for the first time in the society’s history. This includes a female chair, chair of Risk Committee and senior independent director. The society’s approach is to achieve this balance of representation whilst also pursuing the strategy of hiring the right person for the role, regardless of gender. Chair of the Board, Fiona Pollard, comments on the appointment, saying: “We are very pleased to have Elizabeth Lockwood join the Board of the Melton Building Society. She has a wealth of knowledge from her years as the deputy chief risk officer for NatWest Holdings and her experience will be a great addition to our Board. We are delighted to welcome her.” Elizabeth says: “I’m thrilled to be joining the Melton Board and to be part of a community helping to build a modern mutual society.”
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