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
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.”
2023 Business Predictions: Helen Wathall MBE, Wathall’s
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 Helen Wathall MBE, the fifth generation of her family to run Wathall’s, which is Derby’s longest-established independent funeral directors. Helen also set up the award-winning Dandelions Bereavement Support Service.
There is growing awareness in the business community of the importance of workplace mental health, but many have still not fully embraced the devastating impact on someone’s wellbeing and performance at work after suffering a bereavement.
Introducing initiatives such as Mental Health First Aiders in the workplace remains incredibly important but, as pressures on everyone grows during this ongoing cost of living crisis, I think we all need to think about the broader support that can be offered.
Death is a particularly uncomfortable and often taboo subject to discuss at home, let alone the workplace, but it is important for employers to better understand and support colleagues who have lost a loved one.
People express and cope with grief in different ways, but there are a lot of common factors and emotions that people share throughout their grief journey.
During the pandemic, we launched a special online training programme for business managers which explains the grief process and provides practical advice and support – enabling employers to give their staff the validation and space they need to come to terms with their loss, and better cope with their work and home life.
This is obviously about duty of care in the workplace, but there is also a business benefit as employees are far more likely to return to full productivity far quicker if they receive the right understanding and support.
Charcon Hard Landscaping wins contract to supply sustainable products to the ongoing redevelopment of Derby City Centre
Charcon Hard Landscaping, a division of Aggregate Industries, has been awarded a contract to supply sustainable products to the ongoing redevelopment of Derby City Centre.
Derby City Council has started the first phase of its Mobility Programme to deliver better transport choices for the city.
The work will see the areas between The Spot, St Peter’s Street, Babington Lane and Gower Street transformed by improving access for cyclists and pedestrians seeing pavements widened and resurfaced, and stepped cycleways created.
Following Charcon’s technical presentation of their products and support in the design and detailing of the kerbs, the council chose Charcon’s bespoke Black Basalt Kerb, Eco CSK Kerb and Eco CSK cycle kerbs. These will be used to form kerb lines, cycle tracks and channels alongside a vehicle lane and new disabled parking bays.
The product replicates the look of natural granite and contains up to 65 per cent recycled or reclaimed materials. It replicates the look of natural granite but with a third less in terms of carbon footprint.
It will be manufactured at the Aggregate Industries Hulland Ward site near Ashbourne, Derbyshire meaning less transport costs and overall emissions.
Jamie Baldwin, general manager of Charcon Hard Landscaping, said: “We’re really proud to have been chosen to supply Charcon products to this important project in Derby.
“The Eco CSK Kerb is fantastic in terms of its overall look and finish as well as environmental considerations, which we know is a key decision factor for customers.
“We have supplied similar schemes on a national basis, but the Black Basalt kerb is a first and very much bespoke to the project so huge thanks must go to our technical, production and commercial teams.
“Sustainability is very important to us as a company and integral to what we do. The product is made up of a high degree of recycled or reclaimed content and with it being made in Hulland Ward, just 10 miles from Derby, it means a much lower carbon footprint for the project.”
Cllr Steve Hassall, Cabinet Member for Regeneration, Decarbonisation, Strategic Planning & Transport at Derby City Council, said: “These works represent just part of our on-going commitment to not only provide an improved travel experience in the city centre, but also to improve the overall look, feel and standard of our city centre streets to a level that residents rightly expect.
“This project is not the final word in delivering better transport for the city, and we’re looking forward to delivering further improvements going forward.”
Work to redevelop the key city centre area has already got underway and the project is due to be completed by mid-June.
The works are part of Nottingham and Derby’s Transforming Cities programme, funded by the Department of Transport and delivered by Eurovia on behalf of Derby City Council.
Both authorities secured £161 million from the Department for Transport to invest in local transport infrastructure that will improve sustainable transport, support growth, and encourage more low carbon journeys.
The Access Group acquires construction management software company
CSB Holdings Limited (CSB) has sold Construction Industry Solutions Limited and COINS US Group Corp (COINS) to The Access Group.
The Access Group is a Loughborough-headquartered provider of business management software to mid-market organisations in the UK, Ireland and Asia Pacific.
COINS is a construction management software and services company providing end-to-end business solutions to the contracting, home building and service management sectors globally, with more than 100,000 users worldwide.
Nelsons, in conjunction with international law firm Addleshaw Goddard, advised CSB.
David Kaplan, partner and solicitor in Nelsons’ corporate team, said: “We have worked with the key shareholders and management team of CSB for nearly ten years and I am delighted that all their hard work over the years in building and developing the COINS group and its offering has been recognised by a global leader in the software industry. By joining forces with Access, the COINS group will undoubtedly go from strength to strength.”
Other advisors to CSB included KPMG Corporate Finance, BDO and Ashgates. Advisers to Access included Travers Smith and PWC.
Brendan Flattery, Managing Director Access ERP, said: “We see a huge opportunity with COINS joining the Access Group and we will be sharing more details over the coming months about our joint plans for the future. With the size, complexity and geographical spread of COINS’ operations, we are now in an exciting discovery phase while we integrate our two businesses.”
Robert Brown, COINS CEO, said: “I am excited to be joining my peers at The Access Group and the opportunities that this acquisition creates for our staff, customers, and business partners. Access and COINS share the same vision of delivering a suite of market-leading, end-to-end, construction-focused solutions, that enable construction companies to achieve higher levels of productivity, margin and cash flow.”
Chris Bayne, CEO of The Access Group, said: “This latest acquisition supports our growth strategy and focuses on delivering solutions that meet the needs of our expanding international customer base. We welcome COINS’ customers, partners and employees into The Access Group.”
Bank of England announces ninth rate rise in a row
The Bank of England has increased the base rate from 3% to 3.5%, in the face of historically high inflation.
Marking the ninth rise in a row, it adds more pressure on businesses’ margins during the cost of doing business crisis.
Federation of Small Businesses (FSB) national chair Martin McTague said: “Today’s rise in the base rate was widely predicted, but there is also a sense in the air that the decision to go for an increase – with today’s the ninth in a row – may be less of a one-way bet in coming months.
“This time last year, the base rate was just 0.1%. The precipitous climb in borrowing costs in under 12 months has hit small firms hard, eroding their margins at a time when many are struggling with the very cost increases which prompted the Bank of England to increase the rate in the first place.
“Energy costs are by far the biggest driver of the inflation that businesses and consumers are experiencing, and interest rate increases are doing little to rein in energy bills, while making it harder for small firms to keep the lights on.
“SMEs are collectively carrying £33 billion extra in debt, much of it index-linked, compared to January 2020, before Covid hit. Every basis point increase means extra pressure for those on floating rates, and a disincentive to apply for finance for firms looking to grow and invest.
“Our Small Business Index found that in Q3, nearly two in five small firms applying for finance were offered a rate of 8% or higher, compared to a quarter of small firms in the same period in 2021.
“This was supposed to be the recovery period, where the economy got back into gear, with small firms providing the engine of growth. The cost of doing business crisis has knocked that plan off course, and many small businesses are wondering – amid strikes and disruption, near rock-bottom consumer confidence, and continued rises in input costs – how they will stay afloat.
“The Government’s forthcoming announcement on how it will support businesses once the Energy Bill Relief Scheme comes to an end must have a compelling offer for small firms, one in four of whom say they plan to close, downsize or restructure in the absence of a sufficient level of energy support after March.
“Many small businesses are struggling at the moment. They need certainty and support, to help them make the most of the festive season, and enter the new year in a spirit of optimism.”
Alpesh Paleja, CBI lead economist, said: “Another big interest rate rise from the Bank of England doesn’t come as a surprise, in the face of historically high inflation. However, with global price pressures starting to wane, along with the economy set to fall into recession, it is likely that we’ll see smaller interest rate rises for the foreseeable future.
“Nonetheless, high inflation and weakening activity will continue into 2023, putting strain on many households and businesses. With monetary policy focused on tackling inflation, the government must use economic levers to stem the severity of an oncoming downturn, but also to address the UK’s persistent weakness in investment and productivity. We cannot afford to have another decade where both are stagnant.”
Games Workshop reveals agreement with Amazon to develop IP into film and TV productions
A Nottingham-headquartered manufacturer and seller of fantasy miniatures has reached an agreement in principle with Amazon, to develop its intellectual property into film and television productions.
The agreement would also see Games Workshop grant Amazon associated merchandising rights.
In advance of contracts being entered into, Amazon will be commencing certain development activities (such as holding preliminary discussions with writers) in order to facilitate the project. It is intended that rights will initially be granted to develop the Warhammer 40,000 universe.
Whilst the parties have reached agreement on material commercial terms, the project is wholly dependent on and subject to contracts being agreed and entered into, which the businesses say they are working towards.
Green credentials provide silver lining for Nottingham Venues with EcoSmart recognition
Nottingham Venues, the brand behind meetings, events, hotel stays and a collection of venues across the University of Nottingham’s campuses, has been awarded Greengage’s ECOsmart Silver accreditation.
The accreditation is awarded to hotels and meeting venues demonstrating an eco-friendly approach.
General manager of Nottingham Venues, Tom Waldron-Lynch says: “Sustainability is an increasingly critical issue, with green credentials as a supplier taken into account in many decisions, be it for meetings and major conferences or overnight and short-term accommodation in terms of the commercial market.
“Becoming ECOsmart certified venues provides our delegates and guests with industry-recognised reassurance of knowing we have been comprehensively and independently assessed and that we operate in a sustainable way.
“It is a fantastic achievement considering we have only been operating under our new brand and structure since the summer and is testimony to the hard work of the team in fulfilling our vision of a more sustainable future for hospitality.”
Andrew Perolls, CEO of Greengage Solutions, said: “Nottingham Venues are a great example of embracing environmental and social sustainability at an advanced level. We are so pleased they have achieved the ECOsmart Silver accreditation.
“An eco-approach is comprehensively embedded in the operations and fabric of the buildings’ with features as diverse as LED lighting, elimination of palm oil, use of recycled ocean plastic in promotional items, using green spaces to encourage biodiversity as well as paying particular attention to looking after the well-being of staff.”
The latest recognition for Nottingham Venues follows news that they have now returned to pre-pandemic levels of business, a year on from re-opening and comes amidst a major recruitment drive, with 10 jobs currently available across the organisation.
It is hoped that candidates for those roles may well be attracted by the sustainable approach of the Nottingham Venues, as well as their recent (November) accreditation as an officially recognised “Real Living Wage” employer.
Waldron-Lynch concludes: “It is actually just over a year since we reopened fully post-pandemic and I am proud to say that we are back to the levels of business that we enjoyed before the Covid crisis.
“Indeed, we are actively recruiting at the moment, with business bookings especially rising, as many organisations return with renewed vigour and confidence to the exhibitions and conference schedules that have been mothballed for so long.
“Of course, recruiting and retaining team members to help us to deliver these experiences can be another challenge. We hope that by going the extra mile for our people and our planet we can be an employer of choice for the industry locally and a partner of choice for guests and delegates globally.”
Axil Integrated Services appoints new head of sustainability and zero-waste
Axil Integrated Services has appointed Gina Rudkin as head of sustainability and zero-waste. In this role, Gina is responsible for leading the company’s efforts to reduce its own environmental impact and drive sustainability initiatives across all aspects of its operations, as well as supporting Axil’s clients with their initiatives.
Gina brings a wealth of experience to the role, having spent the past 25 years working in the waste management field. She has a proven track record of driving change and implementing sustainability and zero-waste strategies within organisations and is a Certified Green Business Council TRUE Zero Waste Advisor.
In 2021, she was appointed as a Chartered Institute of Waste Management (CIWM) Fellow, becoming the 36th female Fellow since the organisation’s inception in 1898. Such awards are offered to leading professionals in resources and waste management as a formal acknowledgement of their outstanding achievements in the sector.
In her new role, Gina will advise clients how to best move waste through the hierarchy, helping them to recognise the importance of keeping materials at their highest use for as long as possible before being classified as waste.
Providing expert support, Gina will act in a consultative capacity, advising on new environmental regulation and working closely with clients to navigate legislation that may impact their business.
“We are thrilled to have Gina join our team and lead on sustainability,” said Managing Director, Edward Pigg. “At Axil, we pride ourselves on our client partnerships and ability to offer practical, tailored solutions to our clients. Now, more than ever, businesses need the support of their partners to provide actionable solutions to problems, mitigate risk and plan for a more sustainable future. Gina has the expertise and vision to help us, and our clients achieve our shared goals and make a real difference.”
Drawing on her previous experience leading the Waste Training Academy for ISS Facilities Services, she will support Axil clients to increase their understanding and competency within their businesses through bespoke training programmes.
Gina will work with colleagues, customers, and external partners to build programs that create a positive impact on the environment and deliver social value for local communities.
Commenting on her appointment, Gina said: “I am excited to join Axil Integrated Services to build on its impressive environmental agenda and clear commitment to finding innovative ways to make positive environmental and social impact. I look forward to collaborating across the full value chain to move the dial beyond recycling and align the business more closely with our clients sustainability and ESG goals.”
BDO expands Midlands team with M&A hire
Accountancy and business advisory firm BDO LLP has bolstered its M&A team with the appointment of Ben Dawson as director.
At BDO, Ben will be responsible for supporting business owners and management teams in the East Midlands on mergers and acquisitions, raising capital, as well as designing and delivering successful, value maximising exit strategies.
As a qualified chartered accountant, Ben joins from Ideagen – a fast-growing, PE-backed, global software business, where he had responsibility for leading its M&A growth strategy. Ben has 16 years’ experience working in the Midlands corporate finance market in a variety of roles, including at KPMG, Natwest, and Foresight Group, where he led and managed several investments in regional SMEs.
Roger Buckley, corporate finance partner at BDO in the Midlands, said: “We’re delighted to welcome Ben to the team – someone who has vast experience and a depth of understanding of the Midlands corporate finance market that adds real strength to our proposition.
“As the UK braces itself for the biggest downturn of any advanced economy, regional businesses will be looking at alternative ways to secure financial stability and diversify their offering. The role of M&A will be important, as investor cash continues to follow fast-growth and scalable businesses, with a strong ambition and clear strategic intention.”
According to BDO’s recent Rethinking the Economy survey, nearly a third of Midlands businesses intend to take on additional private equity funding and growth capital in the next 18 months. In the last three to six months, 64% of regional businesses have changed their approach to raising finance, with 14% seeking funding earlier than planned to support growth strategies.
Dawson said: “The East Midlands is a vibrant and diversified regional economy, with strong long-term growth prospects, but remains somewhat underserved in terms of M&A advisory services. BDO is a strong, forward-thinking brand, with a full-service offering, deep sector insight, and a global reach that positions it perfectly for this market, creating a highly exciting opportunity.
“I look forward to leveraging the breadth of my experience, including the insight gleaned from seeing transactions through the lens of funder, investor and strategic acquirer, to deliver great outcomes for businesses in the East Midlands and beyond.”
He added: “This is an excellent time to join BDO. The firm is investing significantly in the East Midlands, with a new office opening and several recent senior hires and promotions. The M&A team has an established pipeline of opportunities in the region, which I look forward to helping to develop over the coming months.”
