Record quarter for Leicester online electrical retailer
Marks Electrical, the Leicester-based online electrical retailer, has hailed continued strong trading momentum with record sales performance in a trading update for its third quarter ended 31 December 2021.
The record trading period saw 27.4% revenue growth to £22.3m (Q3-21 £17.5m), including a strong performance during the seasonally important Black Friday and Christmas trading events.
The firm further reported year to date (YTD) revenue growth of 55% to £59.8m (2021 YTD: £38.6m), keeping the business on track to deliver its 2022 revenue target.
Mark Smithson, Chief Executive Officer, said: “I am delighted by our performance in the third quarter of this year, with year on year growth of 27.4%, and continued trading momentum against particularly strong comparatives. This high growth rate allowed us to continue to gain market share.
“In order to improve brand awareness, we continued our investment in TV campaigns, leading to increased website traffic and promoting the Marks Electrical brand. This, combined with our revised approach to digital marketing, helped attract new customers to our site.
“We’ve continued to work closely with all our suppliers in order to maintain inventory levels during the period, and have successfully coped with the continued surge in demand for our products, achieving record delivery numbers and ensuring we maximise the value on each vehicle. In a market with supply issues, this demonstrates the strength of our relationships with our suppliers and the agility of our business model to cope with peak demand.
“I am particularly proud of our further improvement on Trustpilot from 4.7 to 4.8, recognising the market-leading customer service that we provide. Our team has delivered a record quarter, handling increased throughput in our warehouse and via our expertly trained team of delivery drivers. Our call volumes have increased materially and our team have stepped up to deliver during the busiest time of the year, demonstrating the agility of our colleagues and business model to adapt quickly when volumes increase.
“Our momentum has continued into January and we look forward to maintaining our performance management discipline on revenue, profit and cash in the final months of the year.”
Care services firm purchases modern office property
Commercial property agents, Rushton Hickman Ltd, has just sold a 1,350 sq ft (125.42 sq m) two storey modern office property on behalf of private investment clients to Bluebird Care Services.
The property is located in the rural setting of the Lancaster Park Development at Needwood, on the outskirts of Burton upon Trent. The development comprises a mixture of modern industrial/warehouse, business and office units.
The new office location at 9 Lancaster Park, Newborough Road, Needwood, Burton-on-Trent will house a fully functional training facility to support their care team, along with a carers lounge, open plan office for management staff and several meeting rooms.
Bluebird Care provides a range of home and live in care services in the local community, which includes, reablement care, night sitting services, respite care, dementia care, learning disabilities support, and end of life care.
Operating across East Staffordshire and South Derbyshire, Bluebird Care provides homecare to their customers living in Burton, Uttoxeter, Marchington, Doveridge, Rocester, Swadlincote, Hatton, Tutbury, Barton and surrounding areas.
Rick Parekh, director of Bluebird Care, said: “It’s exciting times at Bluebird Care as we move into our new office in Needwood, Burton-upon-Trent.
“We have seen a continual growth for our services, providing high quality care to our customers in the comfort of their own homes and our new office will support us to increase our capacity of care. We hope to recruit 30 new care staff allowing us to provide further care and support in the local community and create new job opportunities.”
Vicki Jones, care manager at Bluebird Care, said: “Our dedicated team are proud to deliver a homecare service that we would be happy for our own family and loved ones to receive. We have a fantastic team whose passion is to always provide great quality homecare and the new office move will provide our care team with better support, including a learning and training facility, not to mention, their own dedicated carers lounge!”
Rushton Hickman commercial property agent, Simon Walker, said: “We are pleased to have recently concluded the sale of this property to Bluebird Care. As the property benefits from an excellent road network and is ideally located for Bluebird Care to provide services across the East Staffordshire/South Derbyshire regions, it was therefore an obvious choice to be considered for purchase.”
Mark Richardson, director of Rushton Hickman, added: “It’s great for us to have helped such a worthwhile business as Bluebird Care find a new home.
“The fantastic office premises they occupy with their flexible space and open plan layout are a perfect example of the type of facility many businesses are now looking for as a hub with a team who combine both home and office-based working. We see this as being the way the office market is going as we move into 2022 and beyond.”
Property firm’s latest acquisition could become home for care provider
A family-run property firm has expanded its portfolio with the acquisition of a block which could become an office space for a care provider.
The Nottingham-based Younas Family have purchased Unit 2 Pelham Court, in Pelham Road, off the city’s Sherwood Rise, for a six-figure sum.
It is just a stone’s throw away from two of the family’s other properties – Clarendon Park, which is Unit 1 Pelham Court, and the nearby Lancaster House.
The Younas’ latest acquisition – which brings the total of their commercial acquisitions in the NG5 postcode alone to £4m – consists of 2,000 sq ft of office space.
It had previously been owned by a counselling service, which has shifted to working online amid the pandemic.
Company director Shamraiz Younas said: “We are delighted to have been able to add this unit to our portfolio, which is next door to our other unit.
“I bought it off-market and spoke to the vendor directly. To have care providers interested is fantastic – we are very aware of the sterling work carers do.”
Discussions began six months ago, when Mr Younas initially approached the vendor. The deal was struck recently, with Mr Younas praising the swift transaction process.
The unit formerly comprised a large business facility over three floors, with a meeting room, boardroom and smaller rooms for counsellors.
There are seven off-road parking spaces, a modern fit-out, kitchens, bathrooms and LED lighting, and the developers are hoping to install electric charging points for vehicles.
“Our plans are to fully renovate the building and work will start shortly – our in-house construction team will be doing the renovations,” he added.
The company will be transforming the building into self-contained office space, to be let out.
Two care providers have already shown interest, with a view to taking on a long-term lease.
The Younas family are not fazed by the current trend of home-working taking precedence.
Mr Younas said: “We have more than 35,000 sq ft of acquisitions in the area and we have managed to fill it all.
“I think there is still a demand for offices. People will work from home, but many companies prefer to work from offices, particularly new businesses.”
Renovations are hoping to be completed by February 1.
The Younas family have their sights on an even more successful 2022 and are looking to grow bigger and faster in terms of commercial space, with a number of deals set to be complete in the first quarter. The firm is actively looking for acquisitions.
Over 7,000ft² of offices sold on Clarendon Business Park
FHP Property Consultants have completed on the sale of two self-contained office buildings on Clarendon Business Park in Nottingham.
Acquired by a rapidly expanding education provider, 2.1 and 2.3 provide just over 7,000ft² of accommodation with substantial car parking provision close to the city.
Thomas Szymkiw, of FHP’s Office Department, said: “I have been in touch with the purchaser of both properties for a number of years and was well aware of their desire to acquire a good quality self-contained office building in Nottingham.
“The right freehold option had been hard to find – however knowing the nature of their requirements I knew instantly that two, self-contained buildings situated in close proximity to each other on Clarendon Business Park would present the perfect opportunity to enable them to expand their educational services in the city.”
Metal recycling specialist awarded gold standard in FORS accreditation for fleet safety and emissions
Midlands-based metal recycling and waste management specialist, Ward, has been awarded FORS Gold accreditation for its fleet safety, driver training and overall transport operations.
The Fleet Operator Recognition Scheme (FORS) is a voluntary accreditation scheme for transport businesses which aims to raise the level of quality in operations. It recognises teams who are achieving exemplary levels of best practice in safety, efficiency and environmental protection.
Gold accreditation is only awarded to exceptional operators who have met exacting targets and is the top level of accreditation available. It enables the Ward team to promote its exemplary practice to customers, stakeholders and its supply chain partners.
Min Bawa, senior transport manager at Ward, said: “This is an incredible achievement and we are so proud of our team for being awarded FORS Gold status. We’re one of only a few recycling companies that hold the ISO 9001, 14001 and 18001 quality standards as well as retaining Investors in People accreditation and this additional recognition of best practice cements our commitment to quality even further.”
To achieve the accreditation the metal and waste management specialist had to evidence best practice across several areas including driver wellbeing, fuel efficiency, noise reduction and modal shift.
Min added: “Our fleet is under constant review. As part of our sustainability road map to 2030 we are committed to having a fleet that is 100% Euro 6 specification. By replacing older vehicles when the time comes and continually investing in the latest technology, we aim to reduce emissions, improve fuel efficiency and equipment safety, as well as supporting our drivers’ wellbeing with training and wider benefits.”
Operations director, Donald Ward, added: “We want people to know that when they choose Ward as their supplier they are guaranteed a low carbon footprint, high standards of sustainability, safety and great level of service. FORS Gold is recognition that we consistently achieve that.”
APSS to give away a free office design in celebration of its 25th year in business
Lincolnshire commercial office design and refurbishment company APSS is celebrating its 25th anniversary this year by giving away a free office design to one East Midlands business.
Established in Lincoln in 1997 by Chairman Darren Crookes, the company has naturally evolved from a partitions and storage solution company to provide a full design and fit out service. It includes its own in-house joinery department to speed up delivery time on projects and decrease overall costs for the customer.
Stuart Marsland, sales director for APSS, said: “To reach 25 years in business is a huge milestone for any company. To celebrate, we’re giving businesses in the East Midlands the chance to win a free office design. We know many companies have had to shift to a more flexible, hybrid way of working due to the COVID pandemic. However, many have not had the ability to change the office environment to reflect this new way of working.
“This has meant many offices have wasted space that could be put to better use. For example, changing banks of desks for alternative collaboration space, creating more group meeting rooms or individual rooms specifically designed to provide a quiet space for virtual meetings.
“We want to help companies see the potential its current office space has when designed specifically for the way the business now works.”
To enter the competition, businesses need to submit an online form before February 7th, 2022 and answer four questions about what both they and their staff want included in their office environment. The winner will be chosen by a panel of judges and will receive computer-generated images and a video walkthrough of the design to show the potential the office has.
In the last 25 years, APSS has completed over 10,000 orders for customers across the country. The company’s first-ever customer was Siemens. Since then, it has designed and refurbished offices and retail spaces for Wren Kitchens, Slimming World, Octopus Energy, Loughborough University, University of Sheffield and Bakkavor to name just a few.
For all terms and conditions of the competition, please visit the APSS website.
Graduate job vacancies 20% higher than pre-pandemic, reports Institute of Student Employers
The graduate jobs market has recovered with the number of vacancies now 20% higher than in 2019 before the Covid-19 pandemic, reports Institute of Student Employers (ISE).
Companies responding to ISE’s Vacancy Survey 2022 represent the UK’s largest graduate employers. They reported that job vacancies for graduates will increase by more than a fifth (22%) in 2022 compared to 2021.
Sectors with the biggest jobs growth this year are the built environment (48% growth), energy, engineering and industry (41% growth), and health and pharmaceuticals (37% growth).
The charity and public sector is the only industry to reduce the number of graduate jobs in 2022. However, even with the 11% reduction in vacancies this year, the sector is above pre-pandemic levels.
ISE’s Vacancy Survey shows the pandemic’s impact on the graduate labour market. For example, compared to 2019, graduate vacancies have risen by 67% in the built environment, 42% in digital and IT, and 24% in health and pharmaceuticals.
All sectors have returned to pre-pandemic levels of hiring with the exception of jobs in retail and FMCG. While this sector is currently recruiting 3% fewer graduates than in 2019, it has increased vacancies by 20% from 2021 to 2022.
Meanwhile, school leaver jobs in retail and FMCG have increased by 55% since last year.
Overall school and college leaver vacancies did not dip during the pandemic and have grown by 17% compared to 2021. As well as retail and FMCG experiencing strong growth, finance and professional services has grown by 37%, and the built environment sector by 30%.
There is evidence that recruitment has returned to a student-driven market. While competition for graduate jobs reached a record high in 2021, nearly half (48%) of graduate employers reported that they had received fewer applicants than this time last year. This is due to more graduate vacancies and difficulties engaging students with online careers events now they have returned to campus.
Nearly one in five employers (18%) noted that the quality of graduate applicants had dropped. They stress that to be successful, students need to focus on career planning and application readiness.
Stephen Isherwood, chief executive of ISE, said: “The number of graduate jobs has slowly increased but this is the first time we’ve seen hiring back to pre-pandemic levels. It demonstrates business confidence and how much employers continue to value a degree.
“This is great news for those job hunting. The hike in vacancies means a return to a student-driven market. However, with a significant number of employers noting a drop in the quality of applicants, students should be aware of resting on their laurels.
“The graduate labour market is and always has been competitive. While students should feel confident about their prospects, they need to apply themselves rigorously to their job search and make every application count.”
Six-year high for private equity-backed buyouts in the East Midlands
The value of private equity-backed deals in the East Midlands was at its highest level for six-years in 2021, according to provisional data from CMBOR, the Centre for Private Equity and MBO Research.
There were 13 deals in the East Midlands in the year with a combined value just shy of £1bn – at £989m, significantly up from the total value of £152m in 2020 and the highest since 2015 (which stood at £1.56bn and was dominated by one major deal).
Whilst the number of deals in the East Midlands was in line with the average for the past ten-years (13), the total value for the year was above the annual average of nearly £708m, according to the data in CMBOR’s first full-year announcement since its re-establishment within Nottingham University Business School with the support of Equistone Partners Europe.
Five deals were recorded in the first quarter of the year, four in the second quarter and two in each of the last two quarters of 2021.
In the neighbouring West Midlands, 16 deals were completed in the year with a combined value of £4.7bn which was in part driven by two landmark deals – Aggreko’s delisting from the London Stock Exchange following its £2.3bn acquisition by private equity firms TDR Capital and I Squared Capital, and Blackstone’s acquisition of warehouse and house builder St Modwen in a deal valued at nearly £1.7bn.
CMBOR’s year-end report also showed that private equity activity across the whole of the UK reached levels not seen since before the global financial crisis. At £45.8bn, the cumulative value of the 235 buyouts of UK-based companies in 2021 represented the biggest headline figure in the 35-year history of CMBOR, surpassed on an inflation-adjusted basis only by the £44.1bn recorded in 2007.
Will Copeland, from Equistone’s Midlands office, said: “With the exception of 2015, the deal value of buyouts in the East Midlands is the highest it has been for over 10 years. The region has built-on the resilience shown in the second half of 2020 and continued to be an attractive region for investment capital.
“Average deal value in the East Midlands rose significantly from £14m in 2020 to £76m in 2021, well above the average for the last ten years of £53m, with sector-focus predominately being in business services and technology companies,” said Copeland.
“For the year ahead, there are several interesting opportunities emerging in the Midlands, both from a platform investment and bolt-on investment perspective. There is some anticipation that the latter may arise from more distressed situations.
“Meanwhile, we will continue to focus not only on finding new investment opportunities but also realising value for our investors. I suspect we’re not the only general partner in this segment that has returned more capital to investors than we invested in 2021,” he said.
Across the UK, record levels of capital deployment were accompanied by strong exit activity, as private equity firms realised 124 investments in the UK at an aggregate value of £27.9bn – the largest such figures since 2018 and 2017, respectively. Floatations were a significant contributor, accounting for the largest single exit (Blackstone and CVC’s relisting of Paysafe via sale to a Special Purpose Acquisition Company) and reaching their highest volume since 2017 and cumulative value since 2015.
These seven UK listings, totalling £11.3bn, showed private equity firms also steering investee companies back towards public markets following a successful hold period.
Dr Kevin Amess, Associate Professor in Industrial Economics at Nottingham University Business School and Fellow of CMBOR, said: “We’ve seen an extremely buoyant UK buyout market in 2021, indicating that the industry has mounted a near full recovery from the impact of Covid.
“What is interesting is how part of that recovery has involved private equity taking an ever-greater role in funding high-growth companies in those sectors such as technology and healthcare that will be the fundamental building blocks of the UK economy post-pandemic.”
2022 Business Predictions: Natalie Bamford, Managing Director of Colleague Box
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 Natalie Bamford, Managing Director of Derby-based personalised gift box business Colleague Box.
Following the lockdown in 2020, 2021 was the year that everyone got used to working from home.
This was a huge opportunity to enable firms to demonstrate to their workers that they were thinking of them.
For Colleague Box, as a business created during the pandemic specifically for delivering happiness to those working remotely or furloughed, we saw a huge increase in demand as organisations adjusted to the massive change. Businesses wanted to repay the faith which their employees had in them, and I think that we all became more empathetic as we tried to find that perfect work-life balance.
In 2022 – and with the Government once again advising people to, if they can, work from home – this looks set to continue. Companies are now more aware of the needs of their staff, more in-tune to their wellbeing and the loneliness which can come from working remotely.
We have seen Christmas parties cancelled and, as a result, Colleague Box HQ has had its busiest year to date in response to this; businesses still want to thank their employees for their continued hard work and a Colleague Box is the perfect way to do that.
Next year looks set to be another year of growth for Colleague Box and fellow online delivery services. I think we are all more in-tune now when it comes to wellbeing and that is reflected in the new range of products we are launching; our latest addition is a collaboration with Rebecca Smith of Derby-based Peachy Mind which aims to create a mindful experience for companies to purchase for their teams.
Rebecca, who is a qualified psychotherapist and mental wellbeing consultant, has pre-recorded workshops where she talks through the contents in each wellness box, explaining the meaning behind each item, creating a practical and enjoyable experience with notes to takeaway.
It will help with continuing the mindful journey as, in 2022, many more businesses and organisations take action on mental wellbeing in the workplace.
Insurance broker acquires Leicestershire firm
Aston Lark, the insurance broker currently backed by Goldman Sachs but soon to become part of Howden, has acquired Phoenix Healthcare (UK).
Phoenix Healthcare was established in 1996 in Oadby, Leicestershire and is a leading independent UK broker and adviser specialising in all aspects of corporate healthcare provision.
Peter Blanc, Aston Lark Group CEO, said: “When I first met Paul and Lee, it was clear that they share the same client service ethos as Aston Lark. We’re becoming a real powerhouse in Private Medical Insurance, and I’m delighted to welcome Paul, Lee and their team to the Aston Lark family.”
Paul Wright, founding director of Phoenix Healthcare, said: “Both Lee Shorter and I have over 35 years’ experience in the industry, and are delighted to choose Aston Lark as the long-term partner for our business. We firmly believe that they will be a great home for our staff and share our client-first approach to corporate healthcare broking.”
Lee Shorter, founding director of Phoenix Healthcare, added: “Becoming part of Aston Lark and having access to their resources and products will provide great opportunity for further helping our clients.”
